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Property Appraiser Tracy Drake tells VAB buyers are often blindsided by tax increases, urges better disclosure
Summary
Property Appraiser Tracy Drake told the Clay County VAB on July 29 that most appeals come from properties sold in the prior year, cited roughly 1,907 petitions last year and a county Save Our Homes differential he estimated at $7 billion, and recommended stronger buyer disclosure to reduce surprise tax increases.
Tracy Drake, Clay County's property appraiser, told the Value Adjustment Board on July 29 that the bulk of petitions come from recent purchasers and that many homeowners are surprised by higher tax bills tied to reassessment after a sale.
"Those are the 18 people that we see," Drake said of the homeowners who appeal after purchasing a property, and he noted a broader pattern: professionals representing large portfolios file high volumes of appeals while local buyers often file because they are newly subject to a full market assessment. Drake told the board the county processed about 1,907 petitions last year and…
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