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Property Tax Appraisal | Capprice Kitchen with Pineywoods Realty Blog

Wednesday, June 9, 2021   /   by Capprice Kitchen

Home Values in Nassau County are Soaring to Record Levels

The primary responsibility for the office of Property Appraiser is to produce a tax roll that is fair and equitable. Florida Statutes requires us to identify and appraise every parcel in the County to a “Just or Fair Market Value” each year. This is the starting point for Florida’s property tax system and the funding source for local government. In my forty plus years in the real estate and appraisal business, I have never experienced a real estate market like the one we are in currently. Almost every property offered for sale is receiving multiple offers the first few days on the market, resulting in bidding wars and sales prices above the original list price. The record level of appreciation is a direct result of limited supply and increased demand. It is simple supply and demand economics. Inflation has driven building costs to record levels, making existing homes more attractive.
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  buying a house, real estate market, property taxes, property tax appraisal