Understanding the profession of property appraisal is the first step for a new homebuyer. Appraisers of real estate have to meet state licensure or certification requirements.
You won’t have to choose your own appraiser. Lang Realty agents work with appraisers on a regular basis.
Here’s some Frequently Asked Questions:
What Is a Property Appraisal Report, and Why Is It Required?
“The Florida Constitution Article VII, Section 4, requires the Legislature to establish regulations that “shall secure a just valuation of all property for ad valorem taxation.” The Palm Beach County Property Appraiser has an extensive FAQ for new homeowners: Frequently Asked Questions
What is in a Real Estate Appraisal Report?
The Florida legislature created Section 193.011, Florida Statutes, requiring the property appraiser to consider eight factors in arriving at a just valuation of a property: the present cash value of the property; highest and best use; location; quantity or size; cost and present replacement value of any improvements; condition of said property; income from said property and net proceeds of the sale.
How Does a Property Appraisal Work?
The property appraiser is required to physically inspect the property at least once every five years. But there’s an update: “Where geographically suitable, and at the discretion of the property appraiser, the property appraiser may use image technology in lieu of physical inspection to ensure that the tax roll meets all the requirements of law. The Department of Revenue shall establish minimum standards for the use of image technology…However, the property appraiser shall physically inspect any parcel of taxable or state-owned real property upon the request of the taxpayer or owner.”
