Audit memo Granite Seminar highlights this Florida rule. A Florida assessment-limited property had a prior assessed value of $190,000. Assuming the next year's limitation factor is 2.00%, what is the capped assessed value before exemptions?
Correct Answer
C) $193,800
Apply the stated limitation factor to the prior assessed value. That gives $193,800.
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Training example Granite Workshop asks the question this way. A Florida parcel has just value of $410,000, assessed value of $360,000, and applicable exemptions totaling $51,411. What is the taxable value?
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