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Statistical update for Ovation condominium in downtown St Petersburg as of 8-19-12

Entrance to Ovation luxury condos in downtown St Petersburg Florida

Entrance to Ovation luxury condos

Statistical update for Ovation condominium in downtown St Petersburg as of 8-19-12:

Each year in August the Pinellas County Property Appraiser’s Office sends out TRIM notices of the value of properties as of January 1, 2012, which is the basis for 2012 property taxes. Several units weren’t yet assessed then in Ovation, so the statistics are not for the entire building. The average “just market value” at Ovation condominium decreased 4.9% – or excluding the penthouses, decreased 4.3%   Individual units ranged from -18.8% for a penthouse  to +4.5% for a city home. Following the national trend toward smaller homes, the two units under 2,500 sq ft were the only one to increase Just Market Value. On most of the floors, there was no Just Market Value difference between the 02 south units and the 01 north units. On the 14th and 15th floors, the north units had a higher value, on the 23rd and 24th floors, the south units had a higher value.

Keep in mind that these values are now “old” since they don’t reflect any sales in 2012. Contact The Simms Team to learn more about how values have changed this year.

49% of the assessed condos at Ovation are homesteaded.  None of the condos have foreclosure liens. Six units have been resold, three of them because the owners bought larger units in the building.

TRIM notices have been mailed out and owners have 25 days from the mailing to file a petition with the Value Adjustment Board. The exact deadline is printed on the bottom right of the TRIM notice.  Only the value is at issue now as the tax/millage rates have not been finalized.

If you’d like more details on these statistics, contact Sharon Simmsof The Simms Team at ALVA International, Inc real estate or contact the Pinellas County Property Appraiser. The Simms Team is nearby at 238 Beach Drive NE, across from the Museum of Fine Arts.

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