The Palm Beach County Property appraiser has a terrific web site with all kinds of tools available in it that are very useful when looking at property. After years in the business I know what all the descriptors are but they can be confusing for folks visiting the site for the first time. Well, here they all are:
Acreage – Any parcel of land measured in terms of acres.
Actual Year Built – The year an improvement is completed.
Ad Valorem – “According to Value.” A method of taxation using the value of the property taxed to determine the tax amount.
Assessed Value – Value placed on a homesteaded property before any exemptions are deducted but after the property tax cap is factored. For non-Homestead properties, the assessed value is the value placed on a property after a 10 % cap is factored. Assessed Value minus exemptions equals Taxable Value.
Assessment Caps – Florida provides tax savings benefits on assessed values of certain real properties.
- A 3% cap applies to the assessed value of residential properties with a qualified Homestead Exemption.
- A 10% cap on non-homesteaded properties applies to the assessed value of second homes or Commercial properties.
Building Number – For parcels containing multiple buildings, the number assigned to each building.
Depth – Refers to the depth of a lot, a measurement from the front property line to the rear property line.
Exemption Amount – The dollar amount of an approved exemption.
Extra Features Description – A description of an improvement on a property, such as a pool, patio or additional room.
Improvement Value – The value placed on a building.
Instrument Owner – The person(s) listed on a deed, mortgage or other legal document.
Land Line Number – A designated line for each of several land classifications which may be found on a parcel.
Land Value – The estimated market value of the land.
Legal Description – The portion of the property record that defines a parcel’s boundaries and its location in Palm Beach County.
Location Address – the situs or street address of a property.
Mailing Address – The address used by the property owner to receive mail regarding their property.
Market Value – The estimated price a willing buyer would pay and a willing seller accept, both being fully informed and the property exposed to the market for a reasonable period of time.
Municipality – An incorporated area of the county such as a City, Town or Village.
Name – The name of the property owner(s).
Non-Ad Valorem – A method of taxation that uses the size of a unit or the number of units to assess a fee for services, such as the Solid Waste Authority.
Official Record Book – The designated book where a document is recorded in the Official Records of the County.
Official Record Page – The designated page within an Official Records Book where is document is recorded.
Parcel or Property Control Number – A unique 17-digit number assigned to each parcel of land and each living unit within a condominium or cooperative. The PCN is used to locate and identify the parcel or unit.
Price – Refers to the actual price paid for a property.
Property Control Number – See Parcel Control Number
Quit Claim Deed – A deed operating as a release that is intended to give up any title, interest or claim the grantor may have in the property, but not containing any warranty of a valid interest or title in the grantor.
Sales Date – The date a sale occurs as recorded on a deed.
Save Our Homes – Save Our Homes, also known as the 3% cap, is not a cap on taxes paid and applies only to residential properties with a qualified Homestead Exemption. The 3% cap limits the increase in the annual assessment of properties in Florida to 3% or to the percentage change in the National Consumer Price Index, whichever is less.
Subdivision – A division of a single parcel of land into smaller parcels.
Tax Year – The year taxes are being levied.
Taxable Value – The Assessed Value, less any exemptions.
Total Square Footage – The gross square footage of a parcel or improvement to a parcel.
Total Tax – The sum of all ad valorem taxes and non-ad valorem fees.
Unit Rate – The estimated market value contribution for each unit of an improvement.
Units – The number of units of an improvement, such as square foot or linear foot.
Year of Exemption – The year the exemption applies.
Zoning – The division of a city by legislative regulations into areas, specifying the uses allowed for the real property in these areas.
