Major Mistake Made By Many Appraisers In Florida Property Taxes
If you have a real estate license or are an appraiser licensed in Florida, state statutes governing your conduct are in Chapter 475. And Chapter 475 has a definition of real property which is applicable to your practice. BUT, if you are involved in ad valorem taxation – as a Value Adjustment Board special magistrate, for example – the applicable definition is in Chapter 192.
There are significant differences in the two definitions, so it’s critical to apply the correct one to whatever services are being provided. That’s why due diligence - also known by appraisers as scope of work - is so important.
Someone once said never assume. And, that’s the point on this subject. Another point in ad valorem valuation is that one’s opinion, even based upon professional work, is not the key. Compliance with state laws is!