This chart shows how market values
in Brevard County followed the real estate sales boom to 2006
and the subsequent bubble burst. The split in non-school taxable
values in 2007 is a result of the voter-approved additional $25,000 Homestead Exemption
to qualified homeowners.
as a result of the Save Our Homes
(SOH) cap reached near $0 when values bottomed out in 2012. A tick upwards indicates that homeowners’ assessed values are
again being capped well below market value per Florida law.
This chart shows the difference between Total Market Value and Total Assessed Value* (represented as a disparity gap) of all properties with
a Homestead Exemption. This difference results in ad valorem ('based on value') property tax savings. At the height of the real
estate boom when market values skyrocketed, the disparity gap was over $14.5 billion, but assessed values were increasing only
3% a year. By 2012, with market values decreasing, the disparity gap closed to within a half-billion dollars.
*Assessed value is the capped market value due to Save Our Homes
This chart shows the total number of 2015 sales used in the Property Appraiser's development of market value for five major property types.
Sales included here are actual qualified market transactions in Brevard County that meet the Florida Department of Revenue's strict
requirements for assessment computations.
This chart shows where the economic activity has been over the years as it relates to new home construction.
The market areas most affected by the building boom during 2003-2006 were in Palm Bay, Melbourne, and Viera.
This chart shows that if Median Home Sale Prices had risen at a steady rate of 4% since 1999, the median home sale price trend would be approximately
where it actually was in 2014, despite the bubble and subsequent burst several years ago. Home sales in 2015 show an increase greater than 4%.
This chart shows that most acreage in Brevard County is owned by various government authorities ranging from Federal
(Kennedy Space Center, Patrick Air Force Base, etc.) to state and local parks, roads,
schools, etc. Another large percentage includes
agricultural classified lands
This chart not only shows that the Palm Bay market area has the most parcels, but also that it has the most homes and the most
vacant lots. This chart also shows that very little vacant land is left in Cape Canaveral/Cocoa Beach, and that the total number of homes in the
newer Viera/Suntree market area (fourth largest in number of homes) is quickly catching up to the much older Titusville market area.