The Volusia County Property Appraiser’s Office has released its refined numbers on the county’s property values and tax base, and the total value of all of its real estate — land and improvements — is almost $59.4 billion.
The estimated total worth of the county’s real property is known as the just value, or the market value of all properties, including government and institutional properties that are tax-exempt. Of that grand sum, the county’s tax base now amounts to just under $36.7 billion.
The latest tax roll is an increase of 8.8 percent over the 2018 tax base, which was $33.7 billion. The tax base includes industrial, commercial, residential, agricultural and vacant or undeveloped properties privately owned and subject to ad valorem taxation.
Ad valorem is a Latin phrase meaning “according to value,” and it refers to the millage levied by local governments and special taxing authorities, such as the School Board and hospital districts. Many of the private taxable properties have partial exemptions, notably the residential properties with homestead exemptions.
The preliminary tax roll is the document used by local governments and special taxing agencies in setting their millage rates for the coming fiscal year. The preliminary tax roll includes the current millage of each taxing authority within the county and the rollback rates.
The rollback refers to the tax rate which, if levied, would generate property-tax revenues equal to those of the prior fiscal year, without taking into account new construction and, in the case of cities, annexations.
Property Appraiser Larry Bartlett said the 2019 rollback rates will be released before July 1, the state’s deadline for counties to release their preliminary tax-base figures.