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Statistical Update: Parkshore Plaza luxury condo in downtown St Petersburg, Florida

Parkshore Plaza in downtown St Petersburg

Parkshore Plaza

Statistical update for Parkshore Plaza condominium in downtown St Petersburg as of 8-19-12.

Each year in August the Pinellas County Property Appraiser’s Office updates property records, reflecting changes in the “just market value” of a property and showing homestead exemptions for the current year. It’s interesting to analyze those statistics.

There are 116 residential properties at Parkshore Plaza. 63 of them have a homestead exemption on their property, which is 54% of the total. This doesn’t mean that the remaining 46% are rentals since some owners claim their primary residence in another state.

The annual change in “just market value” for a unit is down 0.44% but since the range is from +6.6% to -13.7% the average really doesn’t tell us a lot, especially in Parkshore. Keep in mind that although these figures are just now available, it’s really “old news” as this reflects values as of January 1, 2012. Please contact us for information concerning this year’s sales and trends.

Here are the averages by type of unit:

  • Unit 01:  +2.8%
  • Unit 02:  -2.4%  (this would be -2.1% if you exclude the one unit that dropped 10.6% in JMV)
  • Unit 03:  -2.4%  (this would be -2.1% if you exclude the one unit that dropped 10.6% in JMV)  In all but one case the JMV of the 02 and 03 on the same floor was equal.
  • Unit 04:  +0.9%  (an interesting note: the  average JMV on floors 4-15 went up 2.3% and on floors 16-27 dropped 0.4%)
  • Double 01-02 unit:  up 0.4%
  • Penthouses: up 0.8% (ranges from +0.5% to +1.6%)
  • Townhomes on 1st St N:   +4.5% (except for the corner unit which is +6.6%)
  • City homes:  -1.4%  (units less than 2,500 sq ft went up 3.8% and units larger than 2,500 sq ft went down 11.7%)

According to the Pinellas County Property Appraiser the difference in Just Market Values in the same condo building are based on different sizes, views and locations.

Notices of Proposed Property Tax (TRIM notices) are mailed out by the property appraiser each August. Property owners have 25 days from the mailing of this notice to file a petition with the Value Adjustment Board. Note that only the value is at issue now as the tax/millage rates have not been set yet.

If you would like more details on these statistics, contact Sharon Simms of  The Simms Team at ALVA International, Inc real estate or contact the Pinellas County Property Appraiser. We’re right around the corner at 238 Beach Drive NE.

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