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Tax Glossary

Ad Valorem – A Latin term meaning "according to worth", referring to taxes levied on the basis of value. Taxes on real estate and tangible personal property are ad valorem.

Appraisal – The dollar value assigned to a person's property by the Property Appraiser. This amount, less any exemptions, is the basis of the ad valorem portion of the tax.

Assessment – The actual amount of tax a person owes. The ad valorem is based on the appraised value of the property, less exemptions, multiplied by the millage rate.

Millage Rate – The rate of taxes levied based on a mill (1/10 of one cent), or one dollar per one thousand dollars of taxable value. A 30-mill tax rate levied against a taxable value of $100,000 would generate a $3,000 tax liability.

Non-ad Valorem – Tax Assessment not based on millage and value, usually flat amount of $x per acres, housing unit, lot, etc. (e.g. Solid Waste Authority fees are based on the type of property producing the waste).

Parcel – A geographically described tract of land for which a deed exists.

Real Property – Land, buildings and improvements.

Tangible Personal Property – Goods, chattel and other owned objects. For taxation purposes in Florida, vehicles and household goods are not considered tangible personal property.

Tax Deed Application – A legal document filed with the Tax Collector by the holder of a tax certificate to demand payment. The tax deed may be applied for two (2) years from April 1 of the year of issuance. If the taxes are not paid by the date set for the tax deed sale, the property is sold by the Clerk of Courts' Office to the highest bidder.

Tax Lien – A lien for property taxes effective January 1st of the tax year. Taxes are due November 1st and are payable prior to April 1st of the next year.

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