Private vs. county appraisals: Why there’s a drastic difference in storm damage property valuations

Pinellas County accused of undervaluing properties

Evyn Moon reports.

REDINGTON BEACH, Fla. - Many Tampa Bay area homeowners remain displaced after the hurricanes, caught in a frustrating limbo as they await appraisals of their storm-damaged properties. For those who have received their appraisals, the news isn't much better, with many saying the valuations are drastically lower than expected — sometimes hundreds of thousands of dollars below what they believe is accurate.

Jeff Fuller, a Redington Beach homeowner, was told his home is "substantially damaged" and should be torn down or rebuilt.

"It’s really terrible to get a letter from any government that says, ‘I’m sorry, tear your house down and move,’" he said.

READ: Treasure Island makes decision that will speed up post-hurricane rebuilds

The Pinellas County Property Appraiser valued Fuller's home at $298,000, but a private appraisal came in at $642,000 — more than double the county’s estimate.

"If you want to stay in your house, go get a retroactive private appraisal. It will be the best $500 you’ve spent," said Fuller.

For the first time, FOX 13 sat down with the Pinellas County Property Appraiser Mike Twitty, who explained the valuation process.

"What you’ve got to remember is that if you engage a private appraiser, that’s a one-off," Twitty said. "They're inspecting the home, getting pre-storm photographs, and doing interviews. They have better data to replicate what the property looked like before the storm. We're doing mass appraisals, which means we're valuing 40 or 50 thousand parcels every year. We have to run through statistical models to arrive at those results."

MORE: Florida contractors face supply shortages of rebuild materials after Hurricanes Helene, Milton

Pictured: FOX 13's Evyn Moon interviewing Pinellas County Property Appraiser Mike Twitty.

Twitty emphasized that there is no motivation for his office to undervalue properties or push homeowners to tear down their homes.

"Absolutely not. As a native of Pinellas County, I’ve done nothing but try to protect homeowners and want them to stay," Twitty said. "I want everyone to be able to repair their home, but unfortunately, that’s probably not going to be the case for everyone."

If homeowners in Pinellas County are unhappy with their appraisal, Twitty encourages them to reach out to his office.

"If you’re upset with your estimate, call our office," Twitty advised. "There’s often a reason why the appraisal came in the way it did, and we can work with you to address your concerns."

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