Tax Glossary

Ad Valorem – A Latin term meaning “according to worth,” referring to taxes levied on the basis of value. Taxes on real estate and tangible personal property are ad valorem.

Appraisal – The dollar value assigned to a persons property by the Property Appraiser. This amount, less any exemptions, is the basis of the ad valorem portion of the tax.

Assessment – The actual amount of tax a person owes. The ad valorem is based on the appraised value of the property, less exemptions, multiplied by the millage rate.

Millage Rate – The rate of taxes levied based on a mill (1/10 of one cent), or one dollar per one thousand dollars of taxable value. A 30-mill tax rate levied against a taxable value of $100,000 would generate a $3,000 tax liability.

Non-ad Valorem Tax – Assessment not based on millage and value, usually flat amount of $x per acres, housing unit, lot, etc. (e.g. Solid Waste Authority fees are based on the type of property producing the waste).

Property Control Number – A digit number identifying real property; a parcel number.

Real Property – Land, buildings and improvements.

Tangible Personal Property – Goods, chattel and other owned objects. For taxation purposes in Florida, vehicles and household goods are not considered tangible personal property.

Tax Certificate – A first-lien instrument offered for sale by the Tax Collector through competitive bid to pay delinquent taxes. A tax certificate expires seven (7) years from the date issued.

Tax Deed Application – A legal document filed with the Tax Collector by the holder of a tax certificate to demand payment. The tax deed may be applied for after two (2) years from April 1 of the year of Tax Lien – A lien for property taxes effective January 1 of the tax year. Taxes are due November 1 and are payable prior to April 1 of the next year.

Taxable Property – Real property and tangible personal property.