Page 10 - Hobe Sound Reflection - August '21

Page 10, Hobe Sound

loCal governMent

Estimate Your Taxes Before Martin County Total Market years since 2006 with 7.89 percent increase over last year. The
Residential properties experienced one of the largest growth
You Buy A Home Value Increases By More Than median sale price of single-family homes increased to $388,945
compared to $365,000 in 2019. Median condominium sale prices
By Jenny Fields, $2 Billion increased to $168,500 compared to $148,750 in 2019.
Martin County By Jenny Fields, Martin County Property Appraiser “This year’s residential market value growth may be
Property Appraiser With 2021 tax roll figures in today, the Martin County attributed to the overwhelming amount of demand which has far
You are all settled into Property Appraiser’s Office announced that the county saw an outpaced local supply,” said Martin County Property Appraiser
your new home and in increase in total market value to more than $36 billion. This is an Jenny Fields. “Listing times have shrunk significantly, properties
November you are sent your increase of more than $2.1 billion or 6.42 percent as compared are receiving offers above asking prices, and many properties
first tax bill. It is then you to last year’s figure of $34 billion. Taxable value increased more are being purchased sight unseen. Home buyers are relocating to
realize, “Wait! Why are than $1.2 billion or 5.27 percent as compared to last year’s figure Martin County from out of state and highly populated counties
they so different from last of $23.8 billion. Reported values are based on market conditions in Florida.”
year?” as of Jan. 1, 2021. Commercial and industrial properties logged another
Two things I highly year of growth this year with a 5.9 percent increase
recommend before buying a Martin County compared to last year.
home: “Net new construction growth was $297 million this year
1) Please read this article; and History of Total Market Value which is comparable to the past three years,” said Fields.
2) Use our Property Tax Estimator found on our website. “We are however, seeing many multifamily projects in the
This easy and handy tool can save you “tax-bill-sticker- $ Billion pipeline that may finish construction this year and will go
shock” when you receive your first tax bill the year following 38 on the 2022 tax roll.”
your home purchase. 36 $35.29 $36.26 Fields and her team of professionals certified the 2021
The reality is when you purchase a new home, the 34 Preliminary Tax Roll to the Florida Department of Revenue
property taxes will be affected. Please do not assume that 32 $30.25 (DOR) on Friday, June 25. This is the earliest the office has ever
the property taxes you’re looking at online or on a Multiple 30 submitted preliminary numbers to the DOR. A deadline is set for
Listing Service (MLS) will be the same for you. The 28 July 1 each year for all property appraisers’ offices throughout
property taxes shown are representative of what the current 26 the state to submit their values. The early tax roll submission
homeowner is paying, and not what you will pay. The reason 24 $23.15 was a result of a multiyear conversion project to upgrade the
is that the assessed value of the property you are interested software used for appraisal and assessment administration. The
in purchasing will reset to full market value on Jan. 1. When 22 new system is already creating efficiencies by reducing the time
the value resets, your property taxes will be higher than what 20 2007 2012 2017 2021 to run and validate technical tax roll reports.
the prior owner was assessed. Taxing authorities will use these values next to help them
That’s why our office recommends using the Property Figures from July 1, 2021 prepare for their upcoming budgets and to determine their
Tax Estimator before you purchase your home. It’s easy to Martin County History of Total Market Value proposed millage rates.
use and only takes minutes to calculate the range of what
you may pay. Residential Taxable Values For All Municipalities
The Property Tax Estimator is located at www.pa.martin.
fl.us/tools-downloads/property-tax-estimator. Median Sale Price
• The first question asks: Will you get homestead? Answer
yes or no. Condo Single Family
• Next, you are asked to enter the market value and $388,945
assessed value of your current home. If you don’t know the $340,000 $365,000
values, go to the Real Property Search section of our website $295,000 $327,000
and search for your address or last name. Click the link on
your property and then select the Value History at the top of $168,500 Founded in 1925, The Martin County Property Appraiser’s
the page. Your home’s current market and assessed values $115,000 $126,900 $133,000 $148,750 Office (MCPAO) is one of 67 county appraisal offices in the
will be found there. state of Florida. Governed by the Department of Revenue,
• Finally, fill in the sale price of your new home, and the MCPAO values more than 100,000 real, commercial,
select if your home is in Martin County or a municipality in industrial and tangible personal properties throughout
the county. the county for a total of 543.46 land area square miles.
A variety of results will populate including the range 2016 2017 2018 2019 2020 The MCPAO is one of 52 offices in the United States and
of what you can expect to pay in property taxes the year Year of Sale Canada to receive the prestigious Certificate of Excellence
following your sale. This will help you calculate what your Figures from July 1, 2021 in Assessment Administration from the International
monthly mortgage may be and avoid surprises in the future. Martin County Residential Median Sale Price Association of Assessing Officers.
Before you purchase a new home, please make it a point
to visit our website and use the Property
Tax Estimator.
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