Time-Adjustment Factor Development

Summary (Newest Update)

Background The Department of Revenue is seeking to enhance its property tax assessment processes through the development of time-adjustment factors. This initiative aims to ensure that property appraisers are valuing properties equitably and uniformly in accordance with Florida law. The contract is intended for a single source purchase from Robert J. Gloudemans, who has been a key contributor in this area since 2009. Work Details The contractor will assist the Department in conducting complex statistical studies of county assessment rolls. The specific services include: - Developing time-adjustment factors by county, property type, and month; - Ensuring that market conditions of property sales are accurately reflected as of the date of assessment; - Utilizing stratified statistical and analytical reviews to maximize the representativeness and reliability of samples in ratio studies. The work will leverage a multi-year sales database to reduce the need for extensive appraisal work when sales data is limited, ultimately producing more accurate statistics for tax roll approval processes. Period of Performance July 1, 2026 through June 30, 2028 Place of Performance Tallahassee, FL Bidder Requirements The intended single source vendor must have demonstrated experience and qualifications necessary for conducting ratio studies within Florida's property tax system. Robert J. Gloudemans is uniquely qualified due to his pioneering work in developing time-adjustment factors recognized by the International Association of Assessing Officers (IAAO).