Karen Arbutine & Associates

Seminole County Property Appraisals Reduced

Thu, Oct 15, 2009 at 2:40PM

The Seminole County Property Appraiser ahs adjusted the Just/Market Value for homes in Heathrow.  This information can be found at the Appraiser website:  www.scpafl.org  Once on the site click:  Record Search, then:  Yes - then enter the Owner's name.  Click on the name and the page will open which will provide the 2008 and 2009 Working Values.  The sharp drop in property values 25 - 30% then flows to the Assessed Value.  Some of us will find that our Save Our Homes (SOH) Adjustment has been wiped out while others will find it sharply reduced.  The result may be a smaller reduction in the Appraised Value (only about 10%) or little reduction since the market value reduction just reduces the SOH adjustment. If your appraised value goes down, your estimated taxes will likewise be reduced.  When property values begin to increase, the SOH cap will limit your annual increase to 3% and the starting point will be based upon the current lower valuations.

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