It’s that Time of Year: Important Homeowner & Property Tax Resources | The Probst Group
IT’S THAT TIME OF YEAR: IMPORTANT HOMEOWNER & PROPERTY TAX RESOURCES
Did you receive your Trim Notice in the mail?
Your Notice of Proposed Property Taxes (“TRIM Notice”):
Act Now to Protect Your Rights as a Property Owner
Step 1: Carefully Read Your Proposed Property Tax Notice.Many property owners ignore their NOTICE OF PROPOSED PROPERTY TAXES (“TRIM Notice”) until it is too late to challenge an assessment or question proposed tax rates. If you wait until you receive your bill in November to complain about your taxes, you will lose your right to file an appeal. The first thing to know is that your taxes are calculated using this formula: TAXABLE VALUE x TAX MILLAGE RATES + SPECIAL ASSESSMENTS = TAX BILL. The Property Appraiser determines the market value of your property. The Property Appraiser does NOT set any tax rates or collect taxes. Your tax millage rates and non-ad valorem fees are set by the various governmental taxing authorities (School Board, County Commission, City Commission, hospital district board, water management district, and others) listed on your TRIM Notice.
Step 2: Speak Up About Proposed Tax Rate & Fees.Your 2023 TRIM Notice will contain proposed TAX RATES set by the named taxing authorities (i.e., School Board, County/City Commission, etc.). Due to tough economic concerns, some taxing authorities are proposing rate increases or service cuts. If you want to question your proposed tax rates, non-ad valorem fees/special assessments, or services being cut from local budgets, you should contact your elected officials who serve on those taxing authorities and attend the public hearings in September. Your TRIM Notice lists the hearing dates, locations and contact phone numbers for each taxing authority.
Step 3: Challenging Your Proposed Assessment.Your TRIM Notice will reflect our office’s ASSESSMENT of your property as of January 1, 2023, as required by Florida law. Your new assessment does not – and by law is not supposed to – reflect your current market value. For most non-homesteaded property, the assessed value is identical to the property’s market value. For homesteaded property, your assessed value is your “Save Our Homes” value. The market value (“just value”) by law is determined a year in arrears by using a mass-appraisal process largely based upon sales of comparable properties during calendar year 2022.
BOTTOM LINE: If you believe the market value of your property printed on the TRIM Notice is not what a buyer would have reasonably paid for your property on January 1, 2023, you must contact or visit our office or file a value petition by the September 18, 2023 deadline.
VPCA RESIDENT TRIM NOTICE EVENT RECAPWhat a fantastic evening it was as we had the privilege of hosting a special VPCA Resident meeting featuring our Broward County Property Appraiser, Marty Kiar! Thank you Marty for sharing valuable insights on how the Broward County Property Appraiser’s Office can serve the homeowners of our community.
We discussed:How to register your primary residence for HomesteadThe various exemptions availableWhat to look out for when receiving your Trim Notice Portability
The free New Owner Property Alert
OWNER ALERT is a free service designed to help you protect your property from scams or fraud by notifying you if a document is received by BCPA changing the ownership of your property.
Click here to subscribe in the new App.
CRUCIAL HOME BUYER INFORMATION
When buying/acquiring real estate, do not assume the property taxes will remain the same as the current owner’s taxes. Under Florida Law, a change in ownership will reset the assessed value of the property to full market value, which could result in higher property taxes. Please use our Tax Estimator to approximate your new property taxes based on the reassessed value.The Homestead Exemption and Portability saves eligible property owners thousands of dollars each year.
You may file for Homestead Exemption online. Property owners who both owned and made the property their permanent residence after January 1, 2022 may now file for 2023 Homestead Exemption and all other exemptions. The timely filing period for Homestead Exemption for 2023 is March 2, 2022 through March 1, 2023. The absolute deadline to LATE FILE for any 2023 exemption – if you miss the March 1 timely filing deadline – is September 18, 2023. State law (Sec. 196.011(8), Fla. Stat.) does not allow late filing for exemptions after this date, regardless of any good cause reason for missing the late filing deadline. Please click here for more information about Homestead and other exemptions for which you may be eligible.Information about the Senior, Veteran and all other exemptions can be obtained on your county website.
FILE FOR HOMESTEAD
Select your county below and dive into the incredible benefits available to you!Access your counties property appraiser sites here:
BROWARD Broward Property Appraiser site(954) 357-5579 or [email protected]Subscribe to New Owner Alert*Only for Broward County homeowners
MIAMI Miami Property Appraiser site305-375-4712 or Contact Form
|Contact The Probst Group for more information!|
Principal of the Probst Group
Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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