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J Magazine Fall 2017

The magazine of the rebirth of Jacksonville's downtown

Your city from a NEW

Your city from a NEW PERSPECTIVE. WatsonRealtyCorp.com 800.257.5143 WatsonCommercial.com 904.731.4511

TOP PROPERTY ASSESSED VALUES BY CATEGORY Church First Baptist Church 600 N. Main St. Assessed value: $15.99 million Taxable value: 0 Commercial Bank of America Tower 50 N. Laura St. Owner: Hertz Jacksonville One LLC Assessed value: $72.42 million Taxable value: $72.42 million Government Duval County Courthouse 501 W. Adams St. Owner: City of Jacksonville Assessed value: $205.41 million Taxable value: 0 Nonprofit Baptist Medical Center 800 Prudential Drive Owner: Southern Baptist Hospital of Florida Inc. Assessed value: $204.02 million Taxable value: $5.85 million Other Group care/sanitarium/ convalescent facility Owner and address are confidential Assessed value: $3.32 million Taxable value: 0 Residential The Strand 1401 Riverplace Blvd. Owner: Delorenzo Strand LLC Assessed value: $44.93 million Taxable value: $44.93 million SOURCE: 2016 Property Appraiser’s Office Pont Center raised the assessed value of the building from $1.9 million in 2013 to $12.4 million in 2016, but no taxes were assessed because the duPont Fund is a tax-exempt foundation. First Baptist Church Senior Executive Pastor John Blount said the church’s facilities include four parking garages, three worship auditoriums, a grade school for kindergarten through eighth grade and a music training institute for adults. He said the church’s weekly gatherings draw 6,000 people from around the region to Downtown. That, coupled with the church’s other programs, such as the school, adds “vibrancy” to the area around the church and supports nearby businesses. “A healthy, vibrant, inviting Downtown is essential for this daily pulse of life to spread throughout the region, to connect to the neighborhoods, to give a sense of unity and civic pride to those who call it home,” said Blount, who serves on the Downtown Vision board. Downtown Vision is specifically impacted by the heavy tax-exempt presence in the urban core. Those owners that don’t pay property taxes also aren’t required to pay the additional 1.1 mil contribution to help fund Downtown Vision. Last year, the agency received $704,492 through the assessment paid by businesses in a 90-block area, according to the Tax Collector’s Office. Jake Gordon, Downtown Vision’s CEO, is thankful that many exempt businesses choose to pay the assessment, including the duPont Center, First Baptist, JEA and the JaxChamber. Also, the General Services Administration pays a fee for work Downtown Vision does around the Bryan Simpson U.S. Courthouse. Gordon said it is “similar” to the equivalent of a 1.1 mil contribution. Curry’s budget included an additional contribution that would match the full assessment on city-owned property, Gordon said. If approved by council, the $146,831 will be used to hire more ambassadors to drive Downtown Vision’s priority of keeping the urban core clean and safe. TOP 10 PROPERTY ASSESSED VALUES 1. Duval County Courthouse 501 W. Adams St. Owner: City of Jacksonville Assessed value: $205.41 million Taxable value: 0 2. Baptist Medical Center 800 Prudential Drive Owner: Southern Baptist Hospital of Florida Assessed value: $204.02 million Taxable value: $5.85 million 3. EverBank Field 1 EverBank Field Drive Owner: City of Jacksonville Assessed value: $166.28 million Taxable value: 0 4. Bank of America Tower 50 N. Laura St. Owner: Hertz Jacksonville One LLC Assessed value: $72.42 million Taxable value: $72.42 million 5. Police Memorial Building 501 E. Bay St. Owner: City of Jacksonville Assessed value: $71.49 million Taxable value: 0 6. Wells Fargo Center 1 W. Independent Drive Owner: Allegiance Jacksonville LLC Market value: $57.59 million Taxable value: $57.59 million 7. Aetna Building 841 Prudential Drive Owner: GV-IP Jacksonville Owner LLC Assessed value: $46.85 million Taxable value: $46.85 million 8. EverBank Center 301 W. Bay St. Owner: Amkin West Bay LLC Assessed value: $46.20 million Taxable value: $46.20 million 9. Hyatt Regency Jacksonville Riverfront 225 E. Coastline Drive Owner: Jacksonville Hotel 2014 Purchaser LLC Assessed value: $45.60 million Taxable value: $45.60 million 10. The Strand 1401 Riverplace Blvd. Owner: Delorenzo Strand LLC Assessed value: $44.93 million Taxable value: $44.93 million JEFF DAVIS Marilyn Young was an editor at The Florida Times-Union in 1998-2013 and was editor of the Financial News & Daily Record in Downtown in 2013-2017. GOVERNMENT NONPROFIT COMMERCIAL RESIDENTIAL SOURCE: 2016 Property Appraiser’s Office FALL 2017 | J MAGAZINE 25