Taxable property value estimates in Fernandina Beach may decrease to 1.5 billion

Press Release submitted by Nassau County Property Appraiser’s Office

Michael Hickox
Michael Hickox, Property Appraiser

Justin Taylor, Public Information Officer

The 2013 estimates for the county’s just value increased due to improved market conditions, however, due to corrections to the tax roll, taxable values decreased just under 1 percent. Nassau County’s taxable value is estimated to be over $6.1 billion, compared to a little more than $6.2 billion in 2012.

The City of Fernandina could see the taxable value fall to $1.5 billion, a decrease of over 2 percent. The Town of Callahan is estimated to have a slight decrease in their taxable value to over $66 million, down almost 2% from last year. The Town of Hilliard is expected to see a slight increase of 1.5 percent, bringing their taxable value to over $72 million. The taxing authorities will use these estimates to determine the tax rate and to help them prepare the upcoming budget.

Hickox explains that inconsistent units of measurement needed to be corrected throughout the county prior to releasing the preliminary tax roll. “Corrections needed to be made in order to show consistency in appraisal methodology.” He continued, “My first priority was to have a fair and equitable tax roll for all property owners.” The official preliminary tax roll is expected to be released to the taxing authorities and the Department of Revenue by July 1st.

June 10, 2013 10:15 a.m.