Glossary of Terms

Actual Year Built
- The year an improvement is completed.
Ad Valorem
- "According to Value." A method of taxation using the value of the property taxed to determine the tax amount.
Assessed Value
- Value placed on a homesteaded property before any exemptions are deducted but after the property tax cap is factored. For non-Homestead properties, the Assessed Value is the same as Market Value. Assessed Value minus exemptions equals Taxable Value.
Building Number
- For parcels containing multiple buildings, the number assigned to each building.
- Refers to the depth of a lot, a measurement from the front property line to the rear property line.
Effective Year Built
- An Appraisal judgment which reflects the condition and utility of a structure as of January 1st in the current exemptions assessment roll.  Aka Effective Age.
Exemption Amount
- The dollar amount of an approved exemption.
Extra Features Description
- A description of an improvement on a property, such as a pool, patio or additional room.
Improvement Value
- The value placed on a building.
Instrument Owner
- The person(s) listed on a deed, mortgage or other legal document.
Land Line Number
- A designated line for each of several land classifications which may be found on a parcel.
Land Value
- The estimated market value of the land.
Legal Description
- The portion of the property record that defines a parcel's boundaries and its location in Sarasota County for Tax Roll purposes only.
Location Address
- the situs or street address of a property.
Mailing Address
- The address used by the property owner to receive mail regarding their property.
Market Value
- The estimated price a willing buyer would pay and a willing seller accept, both being fully informed and the property exposed for a reasonable period of time.
- An incorporated area of the county such as a City, Town or Village.
- The name of the property owner(s).
Non Ad Valorem
- A method of taxation that uses the size of a unit or the number of units to assess a fee for services, such as the Solid Waste Authority.
Official Record Book
- The designated book where a document is recorded in the Official Records of the County.
Official Record Page
- The designated page within an Official Records Book where is document is recorded.
Parcel Number
- A unique 10-digit number assigned to each parcel of land and each living unit within a condominium or cooperative. The Parcel Identification Number is used to locate and identify the parcel or unit.
- Refers to the actual price paid for a property.
Quit Claim Deed
- A deed operating as a release that is intended to give up any title, interest or claim the grantor may have in the property, but not containing any warranty of a valid interest or title in the grantor.
Sales Date
- The date a sale occurs as recorded on a deed.
- A division of a single parcel of land into smaller parcels.
Tax Year
- The year taxes are being levied.
Taxable Value
- The Assessed Value, less any exemptions.
Total Square Footage
- The gross square footage of a parcel or improvement to a parcel.
Total Tax
- The sum of all ad valorem taxes and non-ad valorem fees.
Unit Rate
- The estimated market value contribution for each unit of an improvement.
- The number of units of an improvement, such as square foot or linear foot.
Year Built
- The year a structure was completed for assessment purposes as determined by a Deputy of the Property Appraiser's Office.
Year of Exemption
- The year the exemption applies.
- The division of a city by legislative regulations into areas, specifying the uses allowed for the real property in these areas.
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