No tax relief for homeowners, despite declining values

By Jeff Waters, Democrat Reporter

July 08, 2009 04:34 pm

— Most homeowners will not get relief from property taxes this year, despite the drop in the assessed values of many homes.
In response to the downturn in the housing market, Suwannee County Property Appraiser Lamar Jenkins lowered the assessed values on most homes in the county.
However, the board of county commissioners raised the millage rate (to 8.5095 from last year's rate of 7.6160) to help make up for lost revenue. So even though your home is probably worth less than it was last year, you’ll likely pay just as much – or more -- in property taxes. Jenkins said the county's taxable value will be about $172 million less than last year, a deficit of nearly nine percent.
"It's not going to be a big tax relief for the taxpayers," Jenkins said Tuesday.
Jenkins said those that will see tax relief are those that own open lands and commercial properties. He said homesteaded properties will be hit the hardest.
"There's going to be 10,000 that get no relief," said Jenkins. There are 10,406 homesteaded properties on the tax roll.