The Hillsborough County Property Appraiser or Appraisal Assessor is in charge of evaluating all property within the county for taxes. He/She administers homestead, property tax and other property valuation maps and maintains current ownership records of all real estate within the county. The Appraisal Assessor's office is located in Room 15 of the local Hillsborough City Hall. All questions may be directed to him at this office. In addition, he/she is available for meeting with home and business owners for any special need they may have concerning the property taxes.

 

The hillsborough county property appraiser usually makes a recommendation as to what the final property value should be, either lower or higher than what the homestead exemption is. If it is determined that the homestead exemption should be removed, the final market value will be anywhere from one thousand two hundred thousand (1,200) to four thousand (4,000) dollars for each lot. The Hillsborough County Property Appraiser will make this recommendation either based upon previous sales data or upon the current market value of the said property.

 

The final homestead exemption value will be determined by looking at what the owner owes on his/her current property. If the homestead exemption has been removed, the tax roll will show a zero for that year. If it was never removed, the final homestead value would be the taxable income of the owner minus the homestead exemption. This is why it is important for the Hillsborough County property appraiser to also perform a desktop appraisal. A desktop appraisal, also known as an escrow appraisal, is performed before the home is offered for sale.

The Role That the Hillsborough County Property Appraiser Plays

 

While this method is not foolproof, it does offer a more accurate look into the overall market value of a home. If a seller agrees to purchase the house at the current market value, they can save themselves a significant amount of money on the taxes. The county property appraiser will use the escrow process in order to determine the value. It is important for homeowners to see what the appraiser's final market rate is, so they can have a better idea of what to expect when they are selling their homes.

 

Some people feel as though the way the Hillsborough County property appraisers determine the value of a property is unfair. They claim that the values set by the tax roll and the homestead exemption are not fair. They argue that the only reason the values are set the way they are is because the Hillsborough County property appraiser does not fully understand the market. This can be true, but homeowners need to look deeper into how they came to this conclusion.

 

The way the Hillsborough County property appraiser arrived at the value of a property is by using several different pieces of information. These include the sales price of the home, the taxes and homestead exemptions included in the sale, and recent sales in the area. All of these factors will affect the final valuation of the home, and the homestead exemption is just one of them.

 

When the homestead exemption is figured into the final price of the house, property owners often find that the actual sales price is lower than the sales price listed on their property taxes. To account for this, the property appraiser will add a small amount of the homestead exemption onto the total market value. Homeowners who are concerned about this method should ask the Hillsborough County property appraisers to provide them with the complete list of homestead exemptions on the property. Property owners who believe that the final market value has been understated may consider appealing the valuation by requesting that a re-evaluation of the tax be done.

 

The Hillsborough County property tax is based on many different factors, including the real estate value of the property and several other pieces of local and federal information. Since the rates are often set by local governing bodies, it is important to contact your local governmental agencies to see what their real estate valuation rates are. While many property owners are unhappy with the rates, it is important for those who use the local government services to understand why they are set. This will allow you to weigh the benefits of shopping for better tax rates with the reality of the current tax rate.

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