Plant City residents had the opportunity to hear from their Hillsborough County Property Appraiser Bob Henriquez, on Thursday, Dec. 9. He gave a presentation on the fluctuating market for various properties and how tax dollars play a pivotal role.
It was the most recent luncheon hosted by the Greater Plant City Chamber of Commerce at the Arthur Boring Civic Center.
As an appraiser, Henriquez said, “our job is to determine the assessment or the value of all the properties in Hillsborough County. We report all that information to the taxing authorities.”
He explained that there are approximately 520,000 properties in Hillsborough County, including residential, commercial, industrial and tangible. This year’s county tax roll has accumulated over $184 billion in just value – or market value. The vast majority of it comes from residential properties making up 57%.
The overall property value in Hillsborough County has been rising steadily – anywhere from 6.5% to 10% since 2013. According to estimates, the COVID-19 pandemic has had little impact.
Henriquez predicts that 2022 will see a historic high that could exceed a 10% increase in property value.
January 1 is always the beginning of a new tax year when the appraiser assesses county-wide properties. For example, a house’s value is based on its current condition when inspected and by the value of the surrounding houses. Residential properties are physically inspected every four years and sales are inspected in the year they are sold.
Commercial properties are analyzed based on the cost, market and income approaches. For tangible properties, the appraiser examines the returns submitted by the taxpayer.
The appraiser will report to the taxing authorities the assessed value plus any incentives such as a homestead exemption. Within Florida, this exemption allows up to a $50,000 deduction from the assessed value of a homeowner’s primary place of residency. It also limits an increase in assessed value to 3% or a change in the consumer price index (CPI) – whichever is less.
The taxing authorities, in turn, factors all of that information when calculating the millage rates, ultimately determining what the proposed property taxes are.
Then in August, the appraiser mails out the notice of proposed property taxes (trim notice) to property owners, explaining the value as well as the taxes that have been determined.
Henriquez encourages property owners to carefully look through the notice in case they see any discrepancies with property value or taxes owed.
“The reality of it is, it has literally everything that’s important that you should know as to what goes into your taxes,” he explained.
If taxpayers object to what’s in the notice, they have a 25-day period to make an appeal to the Value Adjustment Board. However, discussing the matter with the property appraiser can help the owner have a better understanding of what’s calculated on the notice and they may potentially withdraw the appeal.
Then in November, tax collectors mail out tax bills which are due by March. 30 of the following year.
Another highlight at the luncheon was Plant City presenting a check donation to the South Florida Baptist Hospital Cancer Resource Center – A Place for Her.
It was a part of the Pink Patch Project which raises funds for hospitals and organizations that support women suffering with breast cancer.
Funds are raised with the purchase of pink patches or pink keychain fobs.
It’s held throughout October – Breast Cancer Awareness Month. However, Plant City got a head start months in advance.
When Plant City Police Chief James Bradford brought the project to town, it was met with much support.
Not only did it have the backing of the police department, but The Greater Plant City Chamber of Commerce and the Jarrett-Scott Ford dealership volunteered to distribute the pink memorabilia.
Jim Scott, general manager of the dealership, also funded 100% of the merchandise so it could be supplied and sold in Plant City.
The project was successful in raising approximately $5,994 which was presented as a big pink check.
Deborah Curtis, RN manager of A Place for Her, and Kimberly Kincaid, CFM coordinator of A Place for Her, were both present to accept the check.
Bradford also presented plaques to both the Jarrett-Scott Ford dealership and The Greater Plant City Chamber of Commerce for their partnership.
“Their support was overwhelming and never ending, and I’m honored to have worked with them,” he said. “All these were an attempt to stimulate the conversation within the community and encourage public awareness about the ongoing fight [against] this disease.”