Governor Crist Signs - CS/HB 909 - Ad Valorem Taxation

Today, Governor Crist signed into law CS/HB 909 - Ad Valorem Taxation. This bill, sponsored by the Government Efficiency & Accountability Council and Representative Peter Nehr, adds clarification to the definition of Highest and Best Use, one of the eight criteria to be considered by County Property Appraisers in arriving at "Just Valuation". Representatives Jim Frishe and Ed Hooper, both of Pinellas County, co-sponsored this bill.

The legislation also requires important and much needed changes to the composition and conduct of Value Adjustment Boards.

The clarification to Highest and Best Use include requirements that the County Property Appraiser take into consideration the legally permissible use of the property, including any applicable judicial limitation, local or state land use regulation, or historic preservation ordinance, and any zoning changes, concurrency requirements, and permits necessary to achieve the highest and best use.

Both the clarification to Highest and Best Use and the change in the composition and conduct of the Value Adjustment Boards are important victories for Florida Taxpayers.

Congratulations!

Valuation Professionals Fundraiser

Just a quick post to show my appreciation to Joni Herndon, SRA, Henry Entreken, MAI, H. Linwood Gilbert, MAI and Dan K. Richardson, PhD, MAI, AICP for their hosting and the success of last night's reception.

It was an honor to have such distinguished and well respected appraisers host the reception and humbling to for the elite of Tampa Bay Valuation Professionals to express their support with their attendance and contributions.

Thanks to you all!

Here's a couple photos.

From the Trail

June 11, 2008 Fundraising Reception

The message below was sent to several hundred appraisers in the Tampa Bay Area last week. Keep in mind, the reception is open to all. Please RSVP if you plan to attend

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We are fortunate that a true professional, Frank Gregoire, has agreed to run for the position of Pinellas County Property Appraiser.

Frank is a 50 year resident of Pinellas County and has been an appraiser for over 30 years. Frank has a national reputation as being completely honest, an energetic volunteer and a tireless advocate for the public interest.

In eight years of service on the Florida Real Estate Appraisal Board, Frank was elected and served as Chairman four times. He helped coordination between state and federal agencies, helped rewrite Florida statues and helped ensure that Florida’s education and testing requirements for appraisers safeguarded the public. It is vital that our new Property Appraiser be able to help rewrite the complex new tax regulations, following the direction of the legislature and the public, and lead the office in a new direction.

Frank knows the values and the ups and downs of the real estate market in Pinellas County like few others. While the administration of the office is generally satisfactory, it is vital to have a leader who truly understands the laws and economics affecting real estate.

Please join us at an afternoon reception in honor of Frank Gregoire.

Henry C. Entreken, Jr., MAI
Joni L. Herndon, SRA
Dan K. Richardson, PhD, MAI, AICP
H. Linwood Gilbert, Jr., MAI

Afternoon Fundraising Reception for
Frank Gregoire, IFA, RAA
For
County Property Appraiser

Date: June 11, 2008

Time: 5:30 to 7:00 PM

Location: Bascom’s Chop House
3655 Ulmerton Road, Clearwater
Click HERE for Map

Cost: Cash Bar

Campaign Donations: Always Welcome!
Click HERE to Contribute Online

RSVP:

Respond via email to linwood@urbanrealtysolutions.com or call 727-410-7065

Political Advertisement paid for and approved by Frank Gregoire, Republican, for Property Appraiser

Someone ought to tell tax man that housing boom's over

A column from Friday's St. Petersburg Times:

By James Thorner

Times Staff Writer

In print: Friday, June 6, 2008

When home sales were blazing three years ago, property values soared on the blast of hot air. These days, with sales as cool as Dick Cheney at an Osama bin Laden rally, values are thunking back to earth.

Unless you're Juan Lopez, resident of St. Petersburg's Allendale Terrace neighborhood.
At the height of the housing boom in December 2005, Lopez and his wife, Joyce, paid $250,000 for a rough-around-the-edges 904-square-foot house near 36th Avenue N and Seventh Street. It was built in 1941 and suffered from renter's rot. A new appraisal values the home at $237,000.

Try telling that to Pinellas County. The property appraiser's office values the house at nearly $300,000 and taxed the Lopezes $5,600. Here's the twist: The county admits his house is nearly worthless, but claims his land alone would sell for $300,000.

Full Article

The article does not tell the entire story. The Just Value of the Lopez property increased by 32.75% between 2006 and 2007. What is interesting is the increase in Just Value for the residence to west was just 26.17% and the residence to the east increased by only 12.33%!

Three residences, all on the same block, all built between 1940 and 1941, each of wood frame construction and between 904 and 987 sq.ft. of base area. How is it that the rate of appreciation (there was appreciation between 2006 and 2007?) ranges from 12.33% to 32.75%.

It's clear that the time in NOW to elect a Professional as Pinellas County Property Appraiser.

vote4frank.org

You Are Invited!

You Are Invited

to

the Campaign Kickoff Fundraising Reception

to elect

FRANK GREGOIRE

Pinellas County Property Appraiser

Kickoff Fundraiser
Wednesday, May 28th
5:30 – 7:00 pm

Reception to be held at

THE VENUE

Tampa Bay’s newest leader in entertainment and culinary elegance
2675 Ulmerton Road, in Feather Sound

Complimentary hors d'oeuvres and cash bar will be available
Please RSVP to Frank@Vote4Frank.org by Monday, May 25
or call Frank at 727-410-7065

Election laws limit contributions to $500.00 per person or corporation

vote4frank.org

Political Advertisement paid for and approved by Frank Gregoire, Republican, for Property Appraiser

Candidate Petitions-Last Week

We're in the last drive to collect Candidate Petitions to qualify to have Frank Gregoire on the ballot for Pinellas County Property Appraiser. Rather than pay a qualifying fee of nearly $9,000.00 to the Supervisor of Elections, we are in the midst of collecting 6,200 Candidate Petitions.

Any registered voter in Pinellas County may complete a petition. It does not matter if the voter is registered as a Democrat, Republican or with no party affiliation. This is merely to make sure the voters have a choice in the upcoming election.

To get a copy of the petition, just go to the campaign website

http://www.vote4frank.org/

click on the link to the Candidate Petition or use this link

http://www.vote4frank.org/images/Frank-Gregoire-Petition.pdf

Complete the petition with your name, birth date, residence address, signature and date. Drop it in the mail to the address on the petition. Please mail to arrive not later than MAY 16, 2008.

Here's a short clip to describe why this is necessary. THANKS for your help.

Petition Signatures!

Yesterday, April 19th, two different locations were worked to obtain Candidate Petitions. At 9:00 A.M., we visited Puyear Park in northeast St. Petersburg to watch the opening of the first public outdoor Jai Alai court in North America. The afternoon was spent along the seawall in Vinoy Park talking with voters enjoying the Mainsail Art Festival.

Among the voters at Puyear Park signing the petition to get Frank Gregoire on the ballet was St. Petersburg Mayor Rick Baker.

We're working at another location today in an effort to get closer to the goal of 6,200 signed Candidate Petitions before the qualification deadline. You can help by surfing over to http://www.vote4frank.org/ and downloading a pdf of the Candidate Petition. Mail to the address on the petition. Please take a minute to forward the link to your friends, family and colleagues that are registered to vote here in Pinellas County. Encourage them to download the Candidate Petition and forward the link to their friends. If you forward to 20 people in your address book, we are that much closer to the goal.

Your help is essential to elect a Certified Appraiser to the office of Pinellas County Property Appraiser and restore competency, credibility and integrity to the office.

Gregoire Elected to Honorary AARO Membership

The Board of Directors of the Association of Appraiser Regulatory Officials (AARO) unanimously elected Frank Gregoire to Honorary Membership during their meeting in San Francisco Monday, April 14, 2008.

According the AARO President, Bob Keith, Administrator of the Oregon Appraiser Certification & Licensure Board, "Frank, you have faithfully served AARO for many years and have made a significant and important contribution towards the accomplishment of our mission. On behalf of the Board of Directors and the entire Association I say thank you and congratulation on this honor, which you richly deserve."

The mission of the Association of Appraiser Regulatory Officials is to improve the administration and enforcement of real estate appraisal laws in member jurisdictions.

Island of Disenchantment

Update to add link to (UN)real estate blog post:

(UN)real estate

Feel free to comment on the (UN)real estate blog. I particularly like the third post.

Foreclosures leave Clearwater's Island Estates residents disenchanted

By James Thorner
Times Staff Writer
Published Friday, April 4, 2008 5:11 PM

In a cobalt blue Bentley that he bragged once belonged to boxer Mike Tyson, Marty Donovan looked the part of a superstar real estate agent.

And he was. The Chicago native racked up dozens of home sales between 2004 and 2007, most in a single neighborhood, Clearwater's Island Estates. His $40-million in annual sales placed him at the top of heap.

Full Story Here

St. Petersburg appraiser Frank Gregoire, until recently chairman of the Florida Real Estate Appraisal Board, said the sales bear the hallmarks of a common scam.

Buyers find a compliant appraiser to justify a higher loan amount from the bank, pay the seller a lesser amount, stop making house payments and walk away with the extra cash.

More sophisticated operators make payments for several months before they quit the property, Gregoire said. That way it looks like they were honest buyers but simply fell on financial hard times.

"Some thief sticks up a bank and gets $10,000 and the FBI will pursue him like he's the scourge of the earth," Gregoire said. "Other guys use real estate to take a bank for hundreds of thousands or tens of millions of dollars. I wish they were pursued with the same zeal.
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Not mentioned in the article are my comments about the effect of fraudulent, cash back transactions on assessed values. Neither did Thorner address my contention that the Pinellas County Property Appraiser's office must use more diligence in verifying transactions and rate the fraudulent transfers as UNQUALIFIED.