Just value is what Florida's constitution (Art. VII, s. 4) requires the Property Appraiser to determine each January 1 β in practice, the property's fair market value.
It is the number a Florida appeal argues about. It is not the number you are taxed on, because caps such as Save Our Homes and exemptions are applied afterwards to produce the assessed and then taxable value.
Confusing just value with taxable value is how Florida savings get overstated. They are three different numbers on the same notice, and the tax is calculated on the last one.
Knowing which number your petition targets β and which one your bill depends on β is the whole of a Florida appeal decision.
A TRIM notice shows just value $600,000, assessed value $410,000, and a taxable value of $360,000 after the homestead exemption.
A petition to the Value Adjustment Board challenges the $600,000. The $410,000 and $360,000 follow from it β but only once the just value drops below the capped figure.
Effectively yes. Florida courts have long read "just valuation" as fair market value, with statutory adjustments such as a deduction for costs of sale.
Taxable value β just value reduced by any assessment caps to give assessed value, then reduced again by exemptions. Just value is only the starting point.
Yes. If your assessed value is still catching up to just value under the cap, it can keep rising even in a year when just value falls.