The appraiser must also determine the value of the land itself - without buildings or any improvements. The income approach is the third method used to evaluate property - usually commercial property. It requires a study of how much revenue your property would produce if it were rented as an apartment house, a store, an office building and so on. The appraiser must consider operating expenses, taxes, insurance, maintenance costs, and the return or profit most people would expect on your kind of property. The TRIM Notice tells you the taxable value of your property.
Taxable value is the just value less any exemptions.
The TRIM Notice also gives you information on proposed millage rates and taxes as estimated by your community taxing authorities. It also tells you when and where these authorities will hold public meetings to discuss tentative budgets to set your millage tax rates. Fees not related to your property value may also appear on your TRIM notice for garbage collection, roads, lighting and other government services. These fees set by your taxing authority are not affected by any changes in the value of your house or property. If you think the taxable value shown on your TRIM Notice is not correct, you are encouraged to contact the Okaloosa County Property Appraiser's Office to speak with an appraiser.