Nassau County Property Values Increase Overall for 2025

Nassau County Property Appraiser, Kevin Lilly, released the 2025 Estimates of Taxable Value to the taxing authorities, which indicates a total market value over $30 billion, reflecting an approximate 9% increase from the previous year. “Tracking and trending sales through 2024 and into the first quarter of 2025 indicate values are increasing overall,” said Property Appraiser, Kevin Lilly. “We’re seeing appreciation in most market segments, though some segments are somewhat flat, and a few have even seen a slight decrease.” The overall increase includes over $600 million in new construction which has been placed on the tax roll for the first time.

The county’s 2025 taxable value has also seen a rise, surpassing $18.2 billion, which represents a 10.5% increase year-over-year. Additionally, the 2025 school taxable value is estimated at $20.1 billion, up 9% from 2024.

Municipal estimated taxable values:

City of Fernandina Beach: $4.7 billion (+8.5%)
Town of Callahan: $205 million (+8.8%)
Town of Hilliard: $199 million (+13.9%)

These 2025 estimated values have been provided to taxing authorities as of June 1st to assist in their budget planning processes. It is important to note that while these values help determine proposed taxes, the Property Appraiser does not set tax rates. Millage rates are determined by each taxing authority based on their budgetary needs. If millage rates remain the same or increase, higher taxable values will result in higher property tax bills.

The official preliminary tax roll will be submitted to the Florida Department of Revenue and local taxing authorities by July 1st. “Property owners will be able to review their 2025 property values on our website at www.ncpafl.com in late July,” said Lilly.

In mid-August, all property owners will receive their Notice of Proposed Property Taxes, also referred to as a TRIM (Truth in Millage) notice, which will detail:

Estimated property values
Applicable exemptions and assessment reductions
Proposed tax rates and taxes
Dates and times of public budget hearings

For more information, please visit www.ncpafl.com or contact the Nassau County Property Appraiser’s Office at 904-491-7300. Thank you for the opportunity to serve as your property appraiser.