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Commercial

 

The Commercial Department is responsible for assessing income-producing properties and businesses, such as retail stores, offices, warehouses, cemeteries, golf courses, 10 or more unit rental apartments and commercial condominiums.

Q. How is commercial property appraised?
A. Commercial property is appraised primarily by using the income capitalization approach.

Deputy appraisers look at rent rolls and operating statements provided by property owners. Rental rates, expenses, vacancy and other operating data are analyzed and compared to similar properties. The information provided is exempt from Florida's Public Records law and is kept confidential.

Q. How often is commercial property checked?
A. Because income can fluctuate from year-to-year, we request income data annually. A deputy appraiser inspects the property at least once every five years.

Q. If I disagree with the assessment, can I get a review?
A. We are happy to go over your assessment with you at any time. Please bring documents, such as the rent roll, financial operating statement, current appraisal or estimate of repair costs.

Q. What is the 10% cap?
A.The annual increase in the assessed value of non-homesteaded properties, such as Commercial or second homes, cannot exceed 10 %. The 10% cap went into effect in 2009. The assessment cap is not a cap on property taxes.

Q. Do I have to apply for the 10% assessment cap?
A. No, it is not necessary for the property owner to apply for the tax savings benefit.   Our office automatically calculates the annual cap on non-homesteaded property.

Q. Is government-owned  property taxed?
A. Certain properties in Florida are not subject to certain ad valorem taxes.  Among these Specialized Exemptions are Institutional Exemptions for government properties.

For assistance or more information on:

Improved commercial and industrial properties, call us at (561) 355-3988.

Apartments and retirement facilities, call us at (561) 355-3831.

Vacant commercial and industrial land, call us at (561) 355-4090.