Glossary

Actual Year Built - The year an improvement is completed.

Ad Valorem - "According to Value." A method of taxation using the value of the property taxed to determine the tax amount.

Assessed Value - Value placed on a homesteaded property before any exemptions are deducted but after the property tax cap is factored. For non-Homestead properties, the Assessed Value is the same as Market Value. Assessed Value minus exemptions equals Taxable Value.

Building Number - For parcels containing multiple buildings, the number assigned to each building.Depth- Refers to the depth of a lot, a measurement from the front property line to the rear property line.

Effective Year Built- An Appraisal judgment which reflects the condition and utility of a structure as of January 1st in the current exemptions assessment roll.  Aka Effective Age.

Exemption Amount- The dollar amount of an approved exemption.

Extra Features Description- A description of an improvement on a property, such as a pool, patio or additional room.

Improvement Value- The value placed on a building.Instrument Owner- The person(s) listed on a deed, mortgage or other legal document.

Land Line Number- A designated line for each of several land classifications which may be found on a parcel.

Land Value - The estimated market value of the land.

Legal Description- The portion of the property record that defines a parcel's boundaries and its location in Sarasota County for Tax Roll purposes only.

Location Address - the situs or street address of a property.

Mailing Address - The address used by the property owner to receive mail regarding their property.

Market Value- The estimated price a willing buyer would pay and a willing seller accept, both being fully informed and the property exposed for a reasonable period of time.

Municipality - An incorporated area of the county such as a City, Town or Village.

Name - The name of the property owner(s).

Non Ad Valorem - A method of taxation that uses the size of a unit or the number of units to assess a fee for services, such as the Solid Waste Authority.

Official Record Book - The designated book where a document is recorded in the Official Records of the County.

Official Record Page - The designated page within an Official Records Book where is document is recorded.

Parcel Number - A unique 10-digit number assigned to each parcel of land and each living unit within a condominium or cooperative. The Parcel Identification Number is used to locate and identify the parcel or unit.

Price - Refers to the actual price paid for a property.

Quit Claim Deed - A deed operating as a release that is intended to give up any title, interest or claim the grantor may have in the property, but not containing any warranty of a valid interest or title in the grantor.

Sales Date - The date a sale occurs as recorded on a deed.

Subdivision - A division of a single parcel of land into smaller parcels.Tax Year- The year taxes are being levied.

Taxable Value - The Assessed Value, less any exemptions.

Total Square Footage - The gross square footage of a parcel or improvement to a parcel.

Total Tax - The sum of all ad valorem taxes and non-ad valorem fees.

Unit Rate - The estimated market value contribution for each unit of an improvement.

Units - The number of units of an improvement, such as square foot or linear foot.

Year Built - The year a structure was completed for assessment purposes as determined by a Deputy of the Property Appraiser's Office.

Year of Exemption - The year the exemption applies.

Zoning - The division of a city by legislative regulations into areas, specifying the uses allowed for the real property in these areas.