St. Johns County Property Tax Notices Show Market Cooling, Values Up 2.83%

St. Johns County property owners will receive their 2026 Truth in Millage notices on August 17, according to the St. Johns County Property Appraiser's Office, with the preliminary tax roll showing signs of a cooling real estate market after years of explosive growth. The county's total property value reached $92.9 billion, a 2.83 percent increase from 2025 — the smallest annual gain in recent years.

Property Appraiser Eddie Creamer said the county is seeing property values "slowing and stabilizing," with some areas experiencing outright declines in value. The office also noted decreases in both total home sales and new construction activity, marking a shift in the trajectory of one of Florida's fastest-growing counties.

What's in the 2026 tax roll

The preliminary 2026 tax roll submitted to the Florida Department of Revenue shows total just (market) value of $92.9 billion, up 2.83 percent from last year. Total taxable value — the figure after exemptions are applied — stands at $63.1 billion, a 6.60 percent increase from 2025.

The county now accounts for 183,425 parcels, an increase of 2,675 from the previous year. The number of homesteaded parcels reached 98,009, including 8,287 new homestead exemption applications approved in 2026.

The TRIM notices will be mailed August 17 and simultaneously posted online at www.sjcpa.gov. Property owners have 25 days from the mailing date — until September 11 this year — to request an office review of their property values or file a petition with the Value Adjustment Board through the St. Johns County Clerk's office.

The tax roll will be finalized once all requested changes are approved and the Value Adjustment Board process is complete. Final tax bills will be mailed in November.

What the cooling market means for homeowners

The 2.83 percent increase in total market value represents a significant deceleration from the double-digit annual gains St. Johns County experienced during the pandemic-era boom. For homeowners, slower appreciation means more predictable property tax increases, though the relationship between assessed values and actual tax bills depends on millage rates set by taxing authorities — information that appears on the TRIM notice for the County Commission, School Board, and other local government entities.

Homestead exemption protects long-time residents from sharp value swings: Florida's Save Our Homes amendment caps annual assessed-value increases at 3 percent for homesteaded properties, even if market value rises faster. The 8,287 new homestead applications approved in 2026 means nearly that many households are now locked into that protection, insulating them from the full impact of future market swings.

Properties without homestead exemption — including investment properties, second homes, and commercial parcels — face assessment increases that track market value more closely. In a slowing market, non-homesteaded properties may see smaller year-over-year tax increases than in recent years, or even declines if values have dropped in their specific area.

The gap between total market value ($92.9 billion) and taxable value ($63.1 billion) reflects roughly $29.8 billion in exemptions and assessment caps, primarily driven by homestead exemptions and Save Our Homes protections. That spread means a significant portion of the county's property wealth is shielded from taxation, concentrating the tax burden on newer buyers, non-homesteaded properties, and commercial parcels.

What happens in a declining market

Creamer's observation that "some areas" are seeing declines in property values marks a notable shift for St. Johns County, which has been among Florida's hottest real estate markets. The TRIM notice gives property owners the opportunity to challenge their assessed values if they believe the Property Appraiser's figure is too high — a process that becomes more common when markets soften and comparable sales data shows weakening prices.

Declining sales volume and reduced new construction activity typically signal that buyer demand has cooled, often in response to higher mortgage rates and elevated home prices. For sellers, this means longer time-on-market and potentially accepting lower offers than they might have received a year or two earlier. For buyers, a cooling market can mean more negotiating power and a larger inventory of available homes, though affordability depends heavily on financing costs.

The slowdown in new construction has ripple effects through the local economy: fewer jobs for framers, roofers, electricians, and other trades; reduced demand for building materials; and lower impact-fee revenue for the county and municipalities, which fund roads, schools, and infrastructure to serve new development. St. Johns County has been opening new schools nearly every year to keep pace with residential growth; a sustained construction slowdown would eventually ease that capacity pressure.

Property owners who believe their assessed value doesn't reflect current market conditions have until September 11 to contact the Property Appraiser's office at 904-827-5500 or file a petition with the Value Adjustment Board at www.stjohnsclerk.com/vab. The VAB, a third-party panel administered by the Clerk's office, reviews disputes over valuations, exemptions, and property classifications.

What the TRIM notice shows

The TRIM notice breaks down a property's just (market) value — what the Property Appraiser estimates it would sell for — along with assessed value and taxable value after exemptions. It lists all taxing authorities that levy taxes on the property, including the St. Johns County Commission, the School Board of St. Johns County, municipalities if the property is within city limits, and special districts such as water management or fire districts.

For each taxing authority, the notice shows the proposed millage rate (one mill equals $1 per $1,000 of taxable value) and the dates of public hearings where those rates will be set. Florida law requires local governments to hold two public hearings on their budgets and millage rates before finalizing tax levies, giving residents an opportunity to comment.

The notice also indicates what exemptions a property is receiving. The most common is the $50,000 homestead exemption available to Florida residents who make a property their permanent residence (the first $25,000 applies to all taxes; the second $25,000 applies to non-school taxes). Additional exemptions are available for seniors, veterans, disabled persons, and widows or widowers, among other categories. Property owners who believe they qualify for an exemption they're not receiving should contact the Property Appraiser's office before the September 11 deadline.

Creamer emphasized that property owners should treat the TRIM notice as an action item, not junk mail. "Property owners should make it a high priority to review their TRIM notice because it provides them with an opportunity to make adjustments to their property values and exemptions before receiving their tax bill," he said.

What happens next

TRIM notices will be mailed and posted online August 17. Property owners have until September 11 to request a review from the Property Appraiser's office or file a Value Adjustment Board petition. The VAB will hold hearings on disputed valuations and exemptions in the fall, with decisions incorporated into the final tax roll.

Local taxing authorities will hold public hearings on their proposed millage rates and budgets in September, as required by Florida's truth-in-millage law. Those hearings are listed on the TRIM notice. Final tax bills reflecting adopted millage rates and the finalized tax roll will be mailed in November, with payment typically due by March 31 of the following year to avoid delinquency.

The cooling market Creamer describes positions St. Johns County at an inflection point after years of breakneck growth that made it one of the nation's hottest real estate markets and drove a residential construction boom from Nocatee and SilverLeaf in the south to World Golf Village and the SR 16 corridor in the north. Whether the slowdown is a brief plateau or the start of a longer market correction will shape the county's development landscape, school construction needs, and property-tax revenue base for years to come.