>
Impact of Homestead Exemptions on local government revenues
Reporter - News Analyst
August 28, 2019
Fernandina Beach City Manager Dale Martin included the information below in a report he recently sent to City Commissioners and the media:
Kevin Lilly, Chief Deputy to Nassau County Property Appraiser Mr. Michael Hickox, has provided some detailed information related to the number and value of homesteaded properties within the City of Fernandina Beach.
About 68 percent of the 9,897 total land parcels in the city are residential — 6,744 to be exact. Of those:
| Type of Residence | Number | Number with Homestead Exemption | Percent with Homestead Exemption |
| Single Family | 5,272 | 3,487 | 66 |
| Condo | 1,145 | 228 | 20 |
| Multi-family (duplex) | 327 | 84 | 25 |
| TOTAL RESIDENTIAL PARCELS | 6,744 | 3,799 | 56 |
The Homestead Exemption limits the tax revenue that can be collected from residential properties, as the information below reflects in gross numbers:
Total Market Value of real estate in the city: $3.70 billion
City of Fernandina Beach Total Taxable Value: $2.51 billion
Residential parcels Taxable Value: $1.79 billion (71% of Total Taxable Value)
Residential homes & condos Taxable Value: $1.51 billion
Comments
No comments on this item Please log in to comment by clicking here