Nassau County Property Appraiser’s Office
A. Michael Hickox,
Nassau County Property Appraiser
Contact: Kevin Lilly, 904‐491‐7302
April 26, 2018 9:33 a.m.
It appears the November 6, 2018, ballot will contain the question for voters to decide if they want an additional, up to $25k, homestead exemption from property taxes on the amount of property valued between $100,000 and $125,000. Around the State and in Nassau County, voters are asking their Property Appraiser how much will they save?
The Property Appraiser, A. Michael Hickox, has a map layer on his website to provide an answer to everyone in the county that has homestead exemption (www.nassauflpa.com). Hickox said, “Our website will show you, based on the most recent final 2017 values, how much of the proposed $25,000 in additional exempt value of your property you would receive. It will show what that additional exemption benefit will save you in taxes as well.”
Nassau County has over 50,000 real estate parcels and approximately 22,000 properties are receiving the residency‐based homestead exemption. If this amendment passes in November, over 15,200 of those properties would receive a benefit in 2019. Not everyone with homestead will save taxes if this amendment passes. “Some people will be disappointed when they realize their value was lower than the $100,000 necessary to benefit. We want people to know what to expect before they vote, so we are putting the information for everyone to see on the website.” said Chief Deputy, Kevin Lilly.
The amount of taxes saved range from $.01 to $333.32, depending on the value exempted and the millage rate in your taxing district. The typical resident with homestead receiving the full additional benefit will save about $220. In the City of Fernandina Beach, the full additional benefit would be about $333 dollars because of the higher millage rate. This additional exemption will reduce the taxable value in the County by nearly $350 million dollars, saving property owners in Nassau County over $3.2 million dollars in property taxes.
That is a reduction of $350 million of an expected increase closer to $600 million for the year. With the expected increase in market value and all of the new construction, this exemption is not expected to be a reduction in overall County taxable value, but a reduction of the percent of taxable value increase from the previous year.
If the taxpayers said “I was going to give the County a raise in taxes of $4 million, but now I’m only going to give you a raise of $1.7 million this year. Did the County lose money from their budget? No, they are getting less of an increase than they wanted for that year. It will be up to your County Commissioners and the other taxing districts to decide what to do with setting their tax rate. “All of the articles and news about this amendment passing and the negative consequences are coming from government bureaucrats. I haven’t heard one taxpayer complain they could save some property taxes,” said Hickox. “I believe it will pass and the sky will not fall in Nassau County because of this amendment.”
“As I have said, I determine the values and administer exemptions, commissioners set your taxes! Stay tuned and as always, please contact us if you have questions about your values or exemptions.”
Anyone unsure about their exemption status may contact our office by email through the link at the top right of our website http://www.nassauflpa.com/home
Or, go to www.3hxestimator.org and select a county and enter an address for more information on tax savings in that county.
Will You Benefit?
Find out if you will receive any exemption benefit from the proposed 3rd Homestead Exemption (Additional $25,000) on the ballot for the November 6, 2018 General Election.
Understanding the 1st, 2nd, and 3rd Homestead Exemption
Choose your County:
• All calculations are based on 2017 assessment roll data and 2017 final millage rates.
• Recent purchases in 2017 and 2018 may show $0 benefit as a new homestead application may not yet be reflected at this address.
• Assessed value must exceed $100,000 to receive any benefit from the 3rd Homestead Exemption.
• Full (100%) benefit from the 3rd Homestead Exemption is not received unless your property’s Assessed Value is greater than or equal to $125,000.
• Estimates assume no partial homesteads. Homestead percentages less than 100% would result in a lower estimate.
• If passed, this exemption would take effect January 1, 2019 for the 2019 tax year. Brought to you by your participating Florida County Property Appraisers