Page 13 - Stuart Exposure - August '21

Stuart Exposure, Page 13

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

Taxable Values For All Municipalities
Founded in 1925, The Martin County Property Appraiser’s
Office (MCPAO) is one of 67 county appraisal offices in the
state of Florida. Governed by the Department of Revenue,
the MCPAO values more than 100,000 real, commercial,
industrial and tangible personal properties throughout
the county for a total of 543.46 land area square miles.
The MCPAO is one of 52 offices in the United States and
Canada to receive the prestigious Certificate of Excellence
in Assessment Administration from the International
Association of Assessing Officers.