A Florida parcel has just value of $330,000, assessed value of $300,000, and applicable exemptions totaling $50,000. What is the taxable value?
Correct Answer
D) $250,000
Taxable value is assessed value minus applicable exemptions, not just value minus exemptions. Here the taxable value is $250,000.
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A Florida property has a taxable value of $145,000 and a combined millage rate of 16.5 mills. What is the annual ad valorem tax?
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A Florida assessment-limited property had a prior assessed value of $350,000. Assuming the next year's limitation factor is 2.00%, what is the capped assessed value before exemptions?