June 1 Estimate of Value - 2013

PRESS RELEASE CLAY COUNTY PROPERTY APPRAISER • PO BOX 38 • GREEN COVE SPRINGS, FL 32043 • 904-284-6305 • Fax: 904-284-2923

For Immediate Release

Date:

June 3, 2013

Contact:

ROGER A. SUGGS, CFA, AAS, CCF, PROPERTY APPRAISER STATE - CERTIFIED GENERAL REAL ESTATE APPRAISER RZ2771

Phone:

904-269/284-6305

Fax:

904-284-2923

PROPERTY VALUES INCREASE IN CLAY COUNTY

Roger A. Suggs, CFA, AAS, CCF, Clay County Property Appraiser, submitted the taxable value estimates to the Clay County taxing authorities on Friday, May 31 st . For the first time in six years the taxable value for Clay County has increased. The statutory assessment date for the 2013 Assessment Roll is January 1, 2013. Therefore, the overall increase in value is a reflection of the upward direction the real estate market has taken during 2012. The majority of residential home values increased; however, there were still some areas which remained flat or decreased slightly. Additionally, the majority of commercial property values remained flat or decreased slightly due to depressed rental rates and high vacancy rates. The combined increase of taxable value for all property types for the 2013 Assessment Roll is over $133 million countywide. Although new construction in Clay County is still significantly lower than the peak in 2006 ($650 million), the 2013 taxable value of new construction increased 31 percent to $91.4 million, from $69.8 million in 2012. All indications of permit activity remain positive. The chart below illustrates the amount of new construction taxable value per taxing authority.

2013

2012

$ Difference

% Difference

BCC - 001

$91,445,004 $69,803,242

$21,641,762

31.00%

GCS - 002

$1,207,056

$2,140,006

-$932,950

-43.60%

KH - 003

$430,443

$49,292

$381,151

773.25%

OP - 004

$793,179

$364,108

$429,071

117.84%

School Board

$97,539,835 $75,757,134

$21,782,701

28.75%

SJRWMD

$91,561,482 $70,089,168

$21,472,314

30.64%

Increases in the taxable value for the various taxing authorities in Clay County include:

Board of County Commissioners, 1.70 percent increase School Board, 1.60 percent increase Green Cove Springs, .60 percent increase Town of Orange Park, .20 percent increase Keystone Heights, .90 percent increase St. Johns River Water Management District, 1.70 percent increase

The Property Appraiser’s Office is required to provide a certification of taxable value on July 1 st .

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