Your source for answers to common questions about property, taxes, and assessments in Lee County Property Appraiser, Florida. Whether you’re a homeowner, business owner, or investor, our FAQ section is here to provide clarity and guidance on various property-related matters.Lee-County-Property-Appraiser

Common Questions

How is the property evaluated?

Florida statutes establish three valuation approaches: 1.) “Direct Sales Comparison”, 2.) “Replacement Cost”, and 3.) “Profit Capitalization”. In Lee County, we use a computerized mass assessment system that includes elements of all three assessment approaches. However, remember that the best proof of fair market value is when several properties similar to yours are sold.

Do I have to accept the market value of the property appraiser?

If you feel that your appraisal does not reflect the fair market value of the property, you can ask the employee to hold a hearing before the Commission de Régularisation de la Valeur (V.A.B.). The board appoints special magistrates, who are qualified appraisers or notaries, independent of the real estate appraisal office. Just to hold appraisal hearings.

What is the release of homes and save our homes?

The Homestead Waiver is a constitutional benefit that exempts up to $50,000 from the appraised value of your property. You will also benefit from Save Our Homes, which limits increases in your appraised value (not your taxes) to CPI or 3%, whichever is less. Homestead will be granted to applicants who apply for a homestead exemption by March 1, possess title to the property, are bona fide Florida residents, and live in the home and make it their permanent residence on January 1.

How is the assessed value of my property determined in Lee County?

The assessed value of your property in Lee County is determined by the Property Appraiser’s Office. This value is based on various factors, including the property’s condition, location, recent sales of similar properties, and market trends. The assessed value is used to calculate your property taxes. It’s important to note that Florida has a Save Our Homes Amendment, which limits annual increases in the assessed value.