For some in Pinellas, assessed values top market

Pinellas County residents received word this week about what many already knew: The value of their property is decreasing. Despite that, about 189,000 home­owners will see their assessed values go up. Why? Blame Save Our Homes. The tax cap limits the yearly increase in assessed value to 3 percent. Over time, in a rising market, that creates a disparity between the market value and assessed value. At a time when property values are flat or decline, state law requires that assessed values continue to increase to close that gap.

Click here to enter the Tampa Realtors MLS (updated daily)
Register to receive an email every morning of today's new listings
Visit my website or contact me by email