Florida Department of Revenue

Property appraisers are encouraged to alert affected property owners and assist them in identifying any loss in property value sustained as a result of the Deepwater Horizon oil spill.

The property appraiser may want to provide interim assessments. If so, the property appraiser may want to consider including a disclaimer like the following: Interim assessments will not be used in determining the January 1, 2010, or January 1, 2011, values for property tax purposes.

As stated in the order, “the magnitude of this event is historic and its ultimate scope is presently undeterminable.” Generally speaking, appraisals conducted later in the year will be more credible since additional information may be available.

The executive order applies to publicly and privately owned properties, including totally or partially exempt properties.

The property appraiser should provide appropriate disclaimers, including scope of work and intended use, for any interim assessments.

For more information about valuation methodologies, the following links may be helpful:

• International Association of Assessing Officers (IAAO)

• Florida Chapter of IAAO

• Appraisal Institute

The Department will review budget amendments for funds necessary to carry out the governor’s executive order.

The order encourages property appraisers to track additional costs in producing interim values to file separate claims. Some of the associated costs may include hiring temporary staff, additional mailing, and communication costs.