Leon County Property Appraiser Akin Akinyemi, PhD, RA, CFA, CMS, announces that the preliminary 2023 tax roll has been submitted to the Florida Department of Revenue and local taxing authorities. Based on market conditions as of January 1, 2023, taxable property values in Leon County increased approximately 7.8% from 2022 to 2023, with overall market values reflecting an increase of over 10%. The assessed value of properties with homestead exemption will not increase by more than 3% above last year’s value.

“The real estate market in Leon County remains strong, resulting in another year of consistent increases in property values. Florida’s lower cost of living, favorable climate, and limited supply of available housing stock have fueled this continued trend of rising values,” said Akinyemi. “The federal government’s efforts to curb inflation through higher interest rates have resulted in a decline in the number of real estate transactions, still property values have continued to increase.”

Local taxing authorities, including Leon County, the City of Tallahassee, and Leon County Schools, rely on these preliminary values to determine their proposed millage (tax) rates and to prepare their upcoming operating budgets. In August, property owners will be mailed a Notice of Proposed Property Taxes and Non Ad Valorem Assessments, also known as a TRIM (Truth in Millage) Notice, that will detail the value of their property, proposed tax rates, and public hearing information.