Proposed property tax notices to be mailed

Notices of Proposed Property Taxes, also known as TRIM (Truth in Millage) Notices, are scheduled to be mailed to Walton County property owners Aug. 20.

Walton County Property Appraiser, Patrick Pilcher, explained that the TRIM Notices are prepared and mailed by the property appraiser on behalf of all taxing authorities in the county. The Notices indicate the tax rate and amount of individual taxes proposed by each taxing authority for the upcoming fiscal year. Also found on the TRIM Notices are market and assessed property values as determined by the property appraiser. Applicable property tax exemptions are displayed as well.

According to Pilcher, the property appraiser certifies the property value totals to each taxing authority on July 1. Within 25 days, each of the taxing authorities computes a tentative tax rate and advises the property appraiser of the tentative tax rate. The rate is computed by dividing the taxing authority proposed budget by the total taxable property value (budget $ / property value = tax rate).  After receiving the tentative tax rates, the property appraiser prepares and mails the TRIM Notices.

Walton County Taxing Authorities include the Board of County Commission, Walton School District, Northwest Florida Water Management District, North Walton Mosquito Control District, South Walton Mosquito Control District, South Walton Fire District, Argyle Fire District, Liberty Fire District, and the municipalities of Freeport and DeFuniak Springs. The City of Paxton currently does not levy a property tax.

Walton’s 2010 taxable value is set at $11,457,498,231, a decline of 16.8 percent from the previous year. Each of the Taxing Authorities experienced a property value decline, including the municipalities of Freeport and DeFuniak Springs, who posted valuation drops of 14.3 percent and 4.1 percent, respectively.

All property owners are encouraged to carefully examine their TRIM Notice. Questions regarding property values and tax exemptions should be directed to the property appraiser’s office at 892-8123 or 267-4500. Questions or concerns about tax rates or proposed budgets should be directed to the taxing authorities. Contact information for each is found on the TRIM Notice.