Property appraiser's office seeks business owners' cooperation

Citrus County Property Appraiser Geoffrey Greene says his office is seeking assistance from businesses throughout the county.

This year, the office will be expanding its mailing of income and expense letters to approximately 3,000 Citrus County businesses. The mailing is scheduled for mid-February.

In these challenging economic times, obtaining as much information on the local market is important when valuing properties within Citrus County, Greene said. The office is required by Florida Statutes to consider the cost, market and income approach when valuing each commercial property. The requested information helps accomplish the task.

The mailing outlines the needed information, and the business property owner will determine whether it applies to the particular property. If the recipient is an owner/occupant of 100% of the specific business property, this may not apply to you. It will apply if the property is leased to one or more tenants. Cooperation is appreciated in filling out the supplied form and/or providing copies of other documents that an owner may have or shortly may be supplied from accountants.

As the letter explains, the more local information the Property Appraiser’s office can obtain, the better values will reflect Citrus County’s market. Whatever information is provided combined with other similar properties will be used to establish a reflection of the area’s local market conditions. All information supplied is kept strictly confidential, pursuant to Florida Statutes.

Without local information, the only other means available is to use published information reflecting state, metro, and national data in order to obtain enough information to produce a market value. Using this information alone without adjustments for local conditions is not the preferred option. The main objective is to do the best possible job in establishing a fair and equitable value for all area commercial income properties using the best information available.

The sole purpose of the mailing is to ask for the business community’s cooperation and participation. If there are questions, contact the Commercial Appraisal Department Manager John Steelfox, as outlined in the letter.