The Indian River County Property Appraiser is not a business but an elected politician, responsible for appraising the value of all property in Indian River County, Florida, for property tax collection purposes. As of 2015, David C. Nolte holds this office. Nolte's website, IRCPA.org, provides taxpayers with information regarding how real estate value and tax rates are determined, the process of disputing the office's determined market price, a list of tax exemptions, and a variety of tax-related forms.Continue Reading
While Nolte's website provides a wealth of information concerning property taxes, his role in the process is limited to fair valuations of real estate. He has no control over the tax, or millage, rates applied to his number. The office bases its value on what a willing buyer would pay a willing seller for the property, less real estate fees, attorney's fees and other closing costs. Since a higher assessed value ultimately leads to a higher property tax bill, many residents would prefer the assessment to be as low as possible.
Nolte's office appraises property using a computer-assisted model that considers three factors: cost, sales comparison and income. Sales comparisons are the most heavily weighted if recent data is available. Should a resident disagree with the office's market value, she has the right to challenge it before a Value Adjustment Board comprised of two county commissioners, a member of the school board, and two private citizens. A fee is required to challenge the value in this manner, and the resident has the right, though no obligation, to hire an attorney for the hearing. Winning this hearing requires facts, usually recent property sales in the area, and cannot be done on the basis of something such as economic hardship or broad generalities.Learn more about Real Estate