The Value Adjustment Board (“VAB”) is an independent governmental body which hears appeals regarding property value assessments, denied exemptions or classifications, ad valorem tax deferrals, portability decisions, and change of ownership or control. Taxpayers or their representatives file petitions with the VAB in the county where the property is located.
The VAB consists of five members: two from the Lake County Board of County Commissioners, one from the Lake County School Board, and two citizen members, one appointed by the Lake County Board of County Commissioners, and one appointed by the Lake County School Board. The Clerk of the Circuit Court and Comptroller is the Clerk of the VAB, who manages the day-to-day operations of the VAB. In Lake County, the VAB appoints special magistrates to conduct hearings and recommend decisions to the Board. Special magistrates are qualified to evaluate property valuation, exemptions, and classifications. The VAB makes final decisions based on the recommendations from the special magistrates.
All references to rules governing the VAB are from the Florida Administrative Code.