Clearwater, FL (Feb. 4, 2009) - This is an interesting question that I’ve been asked several times recently, so I finally called the Property Appraiser’s Office to find out for myself.
Now, before I tell you the answer, I want to clarify a few terms.
Appraised Value – This is done by an Appraiser hired to determine the value of a home when it has been sold, when it is being re-financed, or to determine the market value of a home.
Just Market Value – This is the term the Property Appraiser’s Office uses for the fair market value of a property. (This is usually broken up into two parts—the Just Market Land which is how much your land is currently worth, and Just Market Improved which is how much your home or building, is worth currently without the land value. Then there is Total Assessment, and it’s the two values added together.