Assume a Florida homestead is subject to a 3% Save Our Homes cap for the coming year. If last year's assessed value was $180,000, what is the capped assessed value before any exemption is subtracted?
Correct Answer
D) $185,400
Under the stated assumption, the cap-limited assessed value is last year's assessed value increased by 3%. That equals $185,400.
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A licensee in Fort Lauderdale is preparing a BPO and finds these comparable sales: Sale 1: $425,000 (sold 2 months ago), Sale 2: $445,000 (sold 4 months ago), Sale 3: $410,000 (sold 6 months ago). If the market has been appreciating at 0.5% per month, what should be the adjusted value of Sale 3?
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