TALLAHASSEE, Fla. (WTXL) — Now is the time to budget.
Leon County's Property Appraiser, Akin Akinyemi, says the public needs to be informed, as property values skyrocket.
While the 58,000 homeowners that qualify for homestead exemption in Tallahassee stay at a 3% taxable rate on property, home and commercial property owners should expect a large increase this tax season.
"The real estate market has been active. This year, the preliminary tax report reveals an overall market value of greater than 11 percent reflecting an increase in taxable value in over nine percent. Those increases represent the highest increase in values that we have seen in over a decade," Andy Janecek, Public Information Officer for Leon County Public Appraiser Office said.
The city of Tallahassee, Leon County School board and others, will establish their budgets and form a tax rate for this next tax year.
In August, homeowners will receive a truth in millage notice, which has more specific information and describes these proposed tax rates.
Go to leonpa.org for an online estimator of your new property tax rates.