When it comes time to sell a home, or purchase one for that matter, one needs to enlist the services of a reliable and well-respected Bay County Property Appraiser. This highly trained professional can assist in making a good offer on a house and make sure that it is priced appropriately. In addition, he or she will ensure that the appropriate documentation is in place, in order to close on the sale. Whether the home was newly constructed or a newly owned home, or a home that has been on the market for some time, the appraiser will be able to help find out what the fair market value of the home is, both according to the condition it has been in, and according to the desirability of the property itself.

 

The role of the bay county property appraiser is very important in the sale of homes and other commercial properties. It is his or her job to give an accurate and fair assessment of a home's worth. In many cases, home owners will attempt to "fix" their properties before selling them, and will make many changes to increase the worth of the home. Unfortunately, this will sometimes cost home owners more money in the end, when they must pay to have everything altered, or add extra commissions to cover marketing costs.

 

Also, if there are any outstanding debts on a mortgage or a loan, abay county property appraiser may file a motion to suppress the debt, based on the fact that it may bar the buyer from closing on the home. For example, a bank may file a motion to dismiss a lien holder's right to collect on a mortgage, when the bank is attempting to foreclose on a home. In the case of a Panama City home, the bank may file a motion to dismiss a homestead exemption, if the homestead exemption was acquired solely by accident, without having the intent to hold on to it for an unfair reason. In other words, a bank may file a motion to suppress based on an accidental acquisition of an unwarranted homestead.

Bay County Property Appraisers

 

A bay county property appraisal in Panama City will always reflect the current residential address of a property. That is to say, when a home is sold in bay county, the seller is generally provided with a street address to which the real estate deed applies. The street address is typically shown as a one or two line block number. That way, it is easy to locate a particular home on which to purchase. It is also easy to find out whether the home is a market-rate property, subject to what is called a fair market value. That is, it is not necessarily reflective of what the home would be worth if sold on the open market.

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In addition, the appraiser must determine and apply an appropriate level of millage. It is a rule of thumb that the greater the millage, the lower the property values in bay county property assessments. The reason for this is that a higher millage rate typically indicates that a property is more highly structured, which can result in a higher resale value. It can also mean that the building is somewhat older. While older buildings typically have more resale potential, they are typically worth less than newer developments, such as condominiums, single family homes and so on.

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The application of appropriate millage rates is not automatic. Whenever a new development is built along a former parcel of land, it is required to get the go-ahead from the taxing authorities before it can commence operation. The same goes for any major remodeling projects like additions to the roof or flooring. Therefore, it is important for property owners to keep up with changes on the property valuation scales as these changes occur.

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In addition to paying the appropriate taxes and fees, property owners need to comply with other necessities, such as obtaining building permits from the proper local departments. If the new construction exceeds the maximum allowed limits, the extra cost can be passed on to the new owners through increases in property taxes. Conversely, if the structure is deemed to be too small, it will not qualify for insurance or special assessments imposed by the bay county government. When either situation exists, the owner must contact a qualified, experienced and licensed bay county property appraiser to determine what his or her property is worth.

 

A qualified appraiser determines the value of a property based on the location and condition of the real property, as well as the surrounding structures and factors such as architectural style, appeal and style, condition and wear, curb appeal and neighborhood proximity. The appraisal then provides a market value of the property, which includes both its residential and nonresidential components. This figure is then used by the taxing authority to calculate property taxes and interest. The county, however, only weights the residential component of the assessment; it does not include the commercial or industrial components of the valuation, nor does it include the value of any improvements that the owner has made to the real property.

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