June 2023 | Issue No. 13 Newsletter

Commercial Department

Here at the property appraiser’s office we are bound by statute, which is one of the things I love the most, not counting our staff or our amazing community. This month we will talk about our commercial department located in our Inverness office. Our commercial department currently has five staff members with a total of 33 years of experience among them. It is their job to ensure that all commercial parcels are valued correctly. This department works alongside our tangible personal property (TPP) department, which we talked about in our April guest column. If you missed it, you can read it on our website located at citruspa.org.  

The commercial department uses Florida Statute 193.011, 193.017, 194.023, and 194.034 when valuing commercial property. 

Florida Statute 193.011 states the eight criteria in which should be considered when placing a value on a property. 1) The present cash value, what a willing buyer would pay to a willing seller. 2)The highest and best use of the property, can and will it be legally permissible, and assumed to achieve its highest and best use. 3) The location of said property. 4) The size of the property. 5) The cost of the property and the present value of all improvements. 6) The condition of said property. 7) The income a property can achieve. 8) The net proceeds a property seller can achieve after deducting all usual and reasonable cost of sale fees. Any TPP should not be considered as part of the sale price of real estate.   

Florida State Statutes (FSS) requires that property appraiser's offices around the state visit every parcel a minimum of once every five years. This includes vacant residential and commercial parcels, improved residential and commercial parcels, industrial parcels, and agricultural parcels. All of our values are to be certified by the Florida Department of Revenue (DOR) every year. If our values are not approved, we can not certify our tax roll. If we don’t certify our tax roll, then the taxing authorities can’t prepare their budgets and determine millage rates.

So how do we come up with the value of a commercial property? Well, did you know that we use three different types of valuation for valuing commercial property? We use the cost approach, income approach, and sales comparison approach. 

The “Cost Approach”. This is the first type of valuation for valuing commercial property. In this approach, an appraiser will estimate the value of a real estate property based on the cost it would take to build it from scratch. With the cost approach, the formula used to calculate value is land value plus construction cost, minus accumulated depreciation.  

The “Income Approach”. This is the second type of valuation. In January, we mail out an income and expense request form and letter that is due back in our office by March 31st. Again, this date is regulated by statute. These forms are handled with confidentiality and are not public record after we receive them. The office uses this information to develop our rental rates and to build our vacancy and expense ratios with local information that we have received back from our business owners. In this approach, we take the effective gross income, which is the potential gross less the vacancy ratio, then subtract expenses to develop a net income. We then capitalize the net income with a market cap rate. This is the value based on as much local information that we have been able to obtain. 

The “Sales Comparison Approach”. This is the third type of valuation. When a property sells, the sale price does not equal the assessment value of the property. It may be higher or lower. One sale does not determine a market value. The property appraiser’s office studies all “like sales” in the county to build a sales comparison for a specific type of property. This is used to find an average price per square foot that a certain type of property will sell for. 

Final reconciliation will occur after researching and studying all three approaches to value and determining that they all fall within a specific value range. We apply the value that we determine is most likely to answer all three approaches to value. 

We look forward to providing Citrus County residents and property owners with continued information in the coming months. Our Customer Service Department is always available to answer questions in both offices. Please call (352) 341-6600 or visit our website at www.citruspa.org. Our social media pages are also available via Facebook or Instagram at @CitrusCountyFLPropertyAppr.


Cregg E. Dalton, CFA

Citrus County Property Appraiser

June 1st Taxable Value Estimates Issued To Taxing Authorities

Holiday Closures & Celebrated Holidays!

The Citrus County Property Appraiser's office will be here Monday - Friday all month! No holiday closures for June.

Happy Fathers Day! We honor & thank the seasoned veteran dads, the stepdads and foster dads, the new dads, the men who are waiting to become dads, the amazing single dads, the dads who have lost children, the dads we have lost, the men who will one day become dads and the amazing women that play both mom & dad.

Community Outreach

Habitat for Humanity

Cregg Dalton, Citrus County Property Appraiser and Meghan Maguire, Community Outreach Coordinator were able to represent our office on Friday, April 28th at the Citrus County Habitat for Humanity home dedication along with community partners from the Citrus County Chamber of Commerce.

The new homeowner received many gifts for her beautiful new home that she worked so hard for. Thank you Citrus County Habitat for Humanity for inviting us once again.

(Photo provided by: Habitat for Humanity of Citrus County)

Life South Community Blood Centers "Battle of the Creggs/Craigs"

Always a great time partering with the Citrus County Fire Rescue and our friends over at Life South! What an amazing turn out we had! Can't wait for our next blood drive!


Realtor Training Session

Another great training session with our realtors friends!

Property Appraiser Cregg Dalton, Director of Customer Service Kelly Carpenter, Director of Land Records Ric Fritz, Parcel Records Manager, Cathy Brusko, Assistant Property Appraiser Dan Robbins & Senior Tangible Personal Property Specialist, Alison Wheeler had the pleasure of speaking with a great group of realtors from Tropic Shores Realty as well as the President from the REALTORS® Association of Citrus County!!

We also we able to include two of our new employees in on this training. What better way for them to get an overall inside look on our office than learning with the local realtors.

We love holding these classes with our local realtors. If your realty office or any other organization would like to schedule a training class, please contact Meghan Maguire at [email protected] and she will get you signed up for our next class.

2023 Tyler Connect Conference

Assistant Property Appraiser, Darren Pillsbury, Programmer Analyst II/Team Lean, Edwin Abbey, Programmer Analyst I, Tyler DeSomma & Sr. Field Appraiser/ Team Lead, Nic Martin were part of the 6,000 attendees at this year's Tyler Connect 2023 even in San Antonio, Texas! They had many presenters speak on topics of new innovations, inventions and the best-in-class practices for helping governments build safe, smart, strong and vibrant connected communities. Tyler Technologies, INC is our software company we use inhouse for all our property appraiser functions!

First Responder's Appreciation BBQ

Always a great time at the Citrus County Chamber of Commerce Annual First Responder's Appreciation BBQ! We have the absolute best first responders in the state if not the country! We are so thankful for all they do for us. Being able to spend time with them and serve them was an honor.

Purple Heart Presentation

We would like to thank the Military Order of the Purple Heart - Aaron A. Weaver Chapter 776 for inviting us to speak at their meeting on this past Tuesday, May 16th. Always a great time speaking with this group of veterans. We were able to answer their disabled military veteran exemption questions, and make sure that they are all getting the exemptions they are entitled to.

Staff Highlights

Employee Funds Donation


On May 4th, the Citrus County Property Appraiser's office dressed in our best Star Wars attire! The employees had the privilege to make our monthly employee funds donation towards Vitas Healthcare of Citrus County. Representatives from their office joined us and spoke about what they do for not only the patients but their families as well. We thank them for all they do for the citizens in Citrus County!

Parcel Records Department - Social Media Information Posts for May 2023

Important Information

❓Do you own a home and have a homestead exemption?

❓Are you a disabled veteran or surviving spouse of a

veteran with a 10% or more service-connected

disability rating?

If you answered yes ✔ to those questions, make sure

you have applied for our disabled veteran exemptions/ tax discounts. 💲

☎ Contact our office at (352) 341-6600 and speak with one of our customer service members. They can let you know what exemption(s) you might be eligible for.

Disabled Veteran Exemptions

👉 Combat Disabled veteran discount, age 65 and older or surviving spouse carryover

👉 Veteran, disable 10% or more by misfortune or during wartime service

👉 Service-connected, totally and permanently disabled veteran or surviving spouse

👉 Surviving spouse of veteran who died while on active duty

👉 Veteran confined to wheelchair, service-connected, totally disabled

April 2023

Market Snapshot

The Realtors Association of Citrus County recently released their Market Snapshot for April 2023.

  • The Median Sale Price for Single Family Homes saw a decrease however the Townhouses/Condos saw an increase.
  • There was a decrease in closed sales for both Single Family Homes and Townhouses/Condos from last year.
  • Both Single Family Homes & Townhouses/Condos saw a increase in active inventory from last year.

Each month we will supply you with the most current information provided by our Florida Realtors.

Disaster Preparedness

Stay Connected

Using your mobile device's camera, scan this QR code to E-file for homestead, apply for a job, visit us on YouTube, Facebook, Instagram, or access our website.

Facebook        Instagram        Web        YouTube

Hometown Citrus Magazine

Make sure to read our monthly articles that are featured in the Hometown Citrus magazine! If you missed it in your mailbox you can read the entire magazine from their Facebook page! Their latest publication was from May 15-June 15, 2023.

Homestead E-File

We are currently accepting applications for 2024.

The e-filing service is currently available for homestead exemption only. You may qualify for additional exemptions. Select from the list of available exemptions while filling out the homestead exemption application.

A customer service representative will contact you if additional documentation is required. For more information, please contact our office: Email or (352) 341-6600.

Before proceeding, please read the following:

  • To be eligible for homestead exemption, you must be a permanent resident of Florida, who owns and occupies real property as of January 1 of the year in which you are applying.
  • If you have recently closed on your property, please allow our office 30 to 60 days from your closing date to process the deed and ownership change. Click this link to check the ownership status of your property.
  • If your property is secured from public record per Chapter 119, Florida Statutes, you will need to file homestead exemption by mail or in person.

Please have the following information available for all applicants:

  • Florida Driver's License or ID card reflecting homestead address
  • Florida vehicle tag number and/or voter registration reflecting homestead address
  • Social Security number, date of birth, date of occupancy, marital status, and phone number
  • If married, you will also need the above information for your spouse
  • Your previous address

FREE Property Fraud Alert Service

The Citrus County Clerk of the Circuit Court & Comptroller's Office offers a free monitoring service to help detect fraudulent documents, such as a deed, that may be recorded in Official Records with your or your business' name on it.

The free alert service will send you the official records document number and link via email for you to review the document on the Clerk's website and take action, if necessary.

Sign Up Here

Congratulations 2023 Graduates!!

Stronger Together - 2023 Family Photo