QP8 – Caps and Freezes

QP8 – The County’s Appraisal procedures are properly maintaining Capped Values within the five percent (5%) and three percent (3%) increases allowed unless the property is improved or transferred, and are not increasing the taxable value subject to the Constitutional Senior Valuation Limitation Exemption. (ARTICLE X, 8B) The OTC shall review the “Capped Valuation Audit Report” (or equivalent) produced by the County that will randomly select five Capped Residential Properties with a Homestead Exemption, five Capped Residential Properties without a Homestead Exemption, five Residential Properties with a Senior Valuation Limitation Exemption, and five Capped Commercial Properties. The Residential with Homestead should have no more than a 3% increase in Taxable value, the Residential without Homestead and the Commercial should have no more than 5% increase in Taxable value, and the Senior Valuation Limitation Exemption Accounts should have no increase in Taxable Value. This report should exclude any accounts with New Construction or a Cap Removal for the Current Year. (Copied from the 2023 Performance Audit Updated July 12, 2023)

To print the Valuation Cap Audit Report, from the Assessment file go to:
File — Print — OTC Audits — Parcel Selection — Valuation Cap Audit

The Valuation Cap Audit Report will Print.