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It May Cost You More to Appeal Your Property Taxes

Property Tax Appeals May be Going Up in Price by Sandy Shores

We received our property tax bills in the mail this week. And, already some disgruntled owners are heading to the tax assessors office to file an appeal, as they feel their taxes are unjust and too high. Owners are frustrated as their taxes on their homesteaded properties are rising in a real estate market that has experienced a downturn.

In September 1995 the Governor approved a rule #12-8.0062 to allow the property appraisers office to increase the assessed value of a homesteaded property even if the market value of the property decreases. The amount of this increase can only be 3% per year or the percentage change of the CPI, whichever is less. This can be done as long the assessed value of the property remains less than the market value of the property. So, in a declining market, a homesteaded property may receive an increased tax bill. Many owners are unhappy with this.

We are hearing that fees for applying for an appeal on your tax bill could be tripling in some counties in Florida.

Property taxes on non owner occupied, investment properties or second homes have a cap of 10% on the assessed value of a property. The tax assessors office implemented this change this year. However, the owner of the property must be the same person since January 1, 2008.

Sandy Shores REALTOR®, Melbourne/Palm Bay FL Real Estate

Brevard County Real Estate & Investing

I also buy, sell, rent, own and manage Investment Property.

Posted by Sandy Shores, Melbourne/Palm Bay FL, Brevard County Real Estate & Investing on 11/04/2009 06:55 PM

Comments (10)

brevard county property tax appeals, brevard county tax, melbourne florida taxes

Originally posted at: Melbourne Real Estate News, Brevard County Florida by Sandy Shores Melbourne FL Realtor: It May Cost You More to Appeal Your Property Taxes

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10 Comments on It May Cost You More to Appeal Your Property Taxes

NOV

In San Diego County, there is not cost to have the value of your property reassessed, and it could save you a little cash on your tax bill if you can get the assessor's office to agree with the reduced value.

I advise clients to review their assessment very carefully before disputing. More times than not, the assessors office has things wrong in the homeowners favor.

Hi Sandy I was reading about this the other day. Tax Tax Tax.

In Maine, when you get your tax bill, and they are usually sent on Friday to let folks cool off by Monday, you can look at your neighbor's value. The entire area tax assessments are public information. Find property like yours, and you may find they are higher taxed than you area. But show the difference if you are the high one...and explain to the appeal board that you just want to be treated the same as this one, this one...make a case. I did it and got tax assessment lowered $10,000 which is a lot in Maine where prices are sooo much lower. Good luck. Also, local spending...hope everyone voted yesterday to rein in the spending. More government, wasteful spending means higher taxes.

Sandy...If a person is selling, trying to get the value lowered could caost in the sale price. In many areas including my own, many properties are selling at or close to the assessed value.

Sandy

It will be worth the investment to appeal our taxes and have a lower assessment.

Good luck and success.

Lou Ludwig

Sandy, I know several years ago the property taxes in many places in Florida went up...it had been where all the Long Islanders were moving. I'm sure they're still considerably less then NY but I believe it's been something of a deterrent in some peoples choices to relocate.

NOV

Sandy, we are going to be seeing more and more owners challenging their property taxes due to the fact that they cannot sell their homes for what their auditors value them!!!

Good info Sandy. I'm surprised that owners are charged to appeal. Seems like a double whammy on an owner who is correct.

Melissa, It's worth the time to check to see if your bill can be lowered.

James, The tax assesssors office can be known for making mistakes. The information in the system is only as good as the information that is input.

David, I know what you mean, it does seem like it's always tax and more tax.

Andrew, Great job in getting your assessment lowered. Every little bit helps!

William, We are seeing the same thing here too.

Lou, It is worth it to get a lower assessment.

Carole, You're right they are much less than in NY. We recently worked with a couple here from New York and they indicated that their property taxes were over $12000 a year. I almost fell out of my shoes.

Caren, Agreed, we are seeing more people contest their tax bills for the same reason.

Amy, The tax assessors office indicates that it is time consuming and labor intensive to do the research. It does seem like a double whammy to the owners that are correct.

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