The hillsborough county property appraiser deals with all real estate on the county's lands. The Appraiser determines the current market value for millions of individual parcels, administer homestead and property tax exemptions, and maintains current county maps of property. Appraisers are licensed by the Florida Department of Financial Services and are expected to adhere to professional practices. Their work is often performed on behalf of the County, but they may also independently perform contract work for individual homeowners.
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Generally speaking, the Appraiser will examine market data to determine what the current market value of a parcel of land is. In many cases, this data is provided by the developer. However, in some cases the Appraiser will visit the site after it has been completed to conduct an inspection. Sometimes the property appraiser will personally inspect a site and give an assessment afterward. A Hillsborough County property appraiser will make a recommendation to the County Commission when he/she makes a recommendation that a homestead exemption is granted to a home owner.
Typically, a homestead exemption refers to a reduction in your property taxes based upon the appraised value of your home. If you are seeking a homestead exemption, it would be advisable for you to seek the help of a Hillsborough County property appraiser who would be able to tell you exactly how much your home is worth in comparison to others in your area. In many cases, a desktop appraisal done by a property appraiser will actually come out lower than the homestead exemption that you might get if you were to look at the property appraisal yourself. This is because an appraiser is trained to look at what he sees in a given area and not necessarily what the value of a certain item is in comparison to other items in that particular area.
Why Does Hillsborough County Appraisers Considering The Standard homestead Exemption At All?
The problem with using a desktop appraisal is that it doesn't take into consideration everything that an appraiser looks at. For example, if you ask the appraiser to "read the paper" and find out how much your house is worth, then you could be looking at something that is in actuality values may be far lower than they really are. On the other hand, if you asked the appraiser to read the newspaper and find out the property tax rate in Hillsborough County, then you would be looking at something that might be higher than the actual tax rate on homes in Hillsborough County... especially if there was a homestead exemption involved. A Hillsborough County property tax rate can change dramatically from year to year and sometimes even in just one day.
This is where a professional Hillsborough County property appraiser comes into play. A professional appraiser, or many appraisers, actually look at more than just the property tax rate. First, they look at the market value of the home. Then, they take into account any other liens, debts or mortgage payments on the home, and they make a determination of what the home is worth. They don't stop there. Appraisers also consider the condition of the home as well as how much of a profit the home is worth.
When Hillsborough County started allowing home owners to have a homestead exemption in 2021, a new real estate phenomenon was created. Unlike in years past, property owners were not allowed to have a homestead exemption. This was done to protect the value of the homes in the area. Unfortunately, in some areas of Horseshoe Causeway, the homestead exemption is costing homeowners more money than they are actually receiving in sales. As a result, Hillsborough County now requires homestead exemption applicants to provide documentation that shows they are making an offer that is consistent with the current market value of the home.
The county's three property appraisers currently are Pugliescu, Rhea and Covid-19 pandemic. In addition to being paid by the property owners, each appraiser is also required to pay into the Hillsborough County Tax Roll. The Covid-19 pandemic is not required to pay into the tax roll; however, he or she must appraise properties using the standard county property appraiser's guidelines.
Many of the appraisers are concerned that the new system of requiring homestead exemption could conflict with the professional judgment process used by these same professionals when making their final evaluation of a home. Currently, only one of the appraisers has changed from using a traditional rolling county property tax roll to the Covid-19 desktop appraisal method. However, this is the only method that has been proven to have error-free results. No other county in Tampa is using this method of computing property value.
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