j u 0 ffi I Cl FLORIDA ADJUSTMENTS - PDF document

1 ... "' j u. 0 ffi I Cl FLORIDA ADJUSTMEN
... "' j u. 0 ffi I Cl FLORIDA ADJUSTMENTS MADE DR-493 R.11/12 Rule 120-16.002 Florida Administrative Code Eff. 11/12 RECORDED SELLING PRICES OR FAIR MARKET VALUE IN ARRIVING AT ASSESSED VALUE Sections 193.011(8) and 192.001(18), Florida Statutes Rule 120-8.002(4), F.A.C. Palm Beach County Assessment Roll 2019 Enter the percent of adjustment on each line. Do not use ditto (") marks. If the property appraiser reports an adjustment of zero, the Department will use zero for that property group in its ratio studies. % Ad' t 0 tJUS men % t t 0 11us men Use Code 15% I 0% Use Code 03 15% I 0% Use Code 10 15% I 0% Use Code 08 15% I 0% Use Code 40 15% I 0% Use Code 11 -39 15% I 0% Use Code 99 15% I 0% 41 -49 15% I 0% Use Code 01 15% I 0% Use Code 50 -69 15% I 0% Use Code 02 15% I 0% Use Code 70 -79 15% I 0% Use Code 04 15% I 0% Use Code -89 15% I 0% Use Code 05 15% I 0% Use Code 90 15% I 0% Use Code 06 & 07 15% I 0% Use Code 91 -97 15% I 0% INSTRUCTIONS The property appraiser must complete this form stating the eighth criterion adjustments selling prices or fair market value, based on Section 193.011 (8), F.S .. in arriving at assessed value. The property appraiser must provide to the Executive Director complete, clear, and accurate documentation justifying any eighth criterion adjustments that exceed fifteen percent (Rule 12D-8.002(4), Florida Administrative Code). This submission is Section 192.001 (18), F.S. The property appraiser must send this completed form to the Department annually with the preliminary assessment roll. Witness my hand and signature at __ W __ l_W __ f_cl __ VJ.. __ at_ __ t).._t.A-. _________ _ DOROTHY JACKS ---------cFA, AAS Palm Beach County Property Appraiser June 2J, 2019 Patrick Creehan, Interim P

2 rogram Director Governmental Center -
rogram Director Governmental Center - Fifth Floor 301 North Olive Avenue West Palm Beach, FL 33401 tel 561.355.3230 fax 561.355.3963 pbcgov.org/papa Florida Department of Revenue - Property Tax Oversight P.O. Box 3000 Tallahassee, Fl RE: Form DR-493 for 2019 Dear Dr. Creehan, We have submitted our form DR-493 for 2019. The form is titled "Adjustments made to recorded selling prices or fair market value in arriving at assessed value." The form should be revised to exclude the words ""or fair market value." In Palm Beach County, we adjust sale prices before we utilize them to value the population of properties. Since we are using adjusted sale prices, it would be improper to make an additional 15% adjustment to arrive at assessed value. As you know, F.S. 193.011(8) makes no mention of adjusting "fair market value" in addition to sales, this is just an error on the form that should be corrected. For that reason, we have modified the form to indicate that we are only adjusting sales by 15%, not a second adjustment for fair market value. That is why you see "15%/0%" in the column titled "% Adjustment." The 15%, reflects the adjustment we make to sales. The 0% is the indication that we are not making a second adjustment to assessments after applying the adjusted sale prices. If you have any questions, feel free to call me directly. WEST COUNTY SERVICE CENTER 2976 State Road 15 Belle Glade, FL 33430 tel 561.996.4890 fax 561.996.1661 NORTH COUNTY SERVICE CENTER 3188 PGA Blvd., Suite 2301 Palm Beach Gardens, FL 33410 tel 561.624.6521 fax 561.624.6565 MID-WESTERN COMMUNITIES SERVICE CENTER 200 Civic Center Way, Suite 200 Royal Palm Beach, FL 33411 tel 561.784.1220 fax 561.784.1241 SOUTH COUNTY SERVICE CENTER 14925 Cumberland Drive Delray Beach, FL 33446 tel 561.276.1250 fax 561.276.1278