Taxable Values Continue to Decrease for Most of Nassau County

The City of Fernandina could see the taxable value fall to $1.5 billion, a decrease of over 2 percent.

Nassau County, FL – The Nassau County Property Appraiser’s Office recently released the 2013 estimated preliminary tax roll and the initial numbers show a slight increase in just value and a slight decrease in taxable value for most areas.

On May 30th, Property Appraiser Mike Hickox released the estimated preliminary values to the Nassau County taxing authorities, citing a stabilizing market in the local economy for the 2012 calendar year.

The 2013 estimates for the county’s just value increased due to improved market conditions, however, due to corrections to the tax roll, taxable values decreased just under 1 percent.

Nassau County’s taxable value is estimated to be over $6.1 billion, compared to a little more than $6.2 billion in 2012.

The City of Fernandina could see the taxable value fall to $1.5 billion, a decrease of over 2 percent.

The Town of Callahan is estimated to have a slight decrease in their taxable value to over $66 million, down almost 2% from last year.

The Town of Hilliard is expected to see a slight increase of 1.5 percent, bringing their taxable value to over $72 million.

The taxing authorities will use these estimates to determine the tax rate and to help them prepare the upcoming budget.

Hickox explains that inconsistent units of measurement needed to be corrected throughout the county prior to releasing the preliminary tax roll. “Corrections needed to be made in order to show consistency in appraisal methodology.” He continued, “My first priority was to have a fair and equitable tax roll for all property owners.”

The official preliminary tax roll is expected to be released to the taxing authorities and the Department of Revenue by July 1st.