Manatee, Florida 2008 Property Tax Information - Anna Maria Island
Ken Burton Jr. is on my good side 2008. I have a feeling some Anna Maria Island property owners may disagree. It appears as though his leadership within the county of Manatee, Fl has made a fair reduction in Anna Maria Island property taxes. I received my personal property tax letter early in the day and waited until late in the evening to open the proposed property taxes. I expected very little in the way of property tax reductions so I was ready for a rough night with a lots of tossing and turning over the best way to appeal the escalated Anna Maria property taxes.
I have so little faith and am embarrassed to admit my pessimism. I was elated to see Manatee County, FL got my personal property values correct. I have to admit that I quickly moved to denial just after opening my 2008 estimated property tax letters. There must be something I am missing?? I reviewed my property estimates with a fine tooth comb and sure enough, Ken got it correct! Wow!
Once the 25% reduction in property taxes sank in, I quickly moved my attention to thoughts of property taxes for all of Anna Maria Island. The following day I consulted an Island Real Estate professional that has one property in Anna Maria City and one in Holmes Beach. He confirmed Manatee County calculated his property values correctly for 2008!
So in summary, I reviewed two duplexes in Holmes Beach, Property Values were right on. Three single family homes in Holmes Beach, property Values were correct. One Vacant lot in Anna Maria City, property value was about 15% high. Two Single Family homes in Anna Maria city, both property values were correct. This is great Real Estate news! Now for the bad news. After consulting a Bradenton Beach Condominium owner it appears as though Bradenton Beach owners may not be as happy with their reduction in 2008 property taxes as the rest of Anna Maria Island owners. So, looks like there are mixed property tax results for Anna Maria Island.
If you feel your property values are too high speak with your Anna Maria Island property specialist or email me to determine the value of your Anna Maria Real Estate. Do NOT wait to start this process as you only have twenty five days to submit your appeal. This correlates roughly into a September 12th date so DO NOT procrastinate! If you need recommendations for professional help to appeal your property taxes don't hesitate to contact me.
I hope the mail provides for as pleasant surprise as I received...Early Christmas presents are always welcome on Anna Maria Island!
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There are two parts to property taxation. One part is the "opinion" of value proposed by the Property Appraiser. The other is the appeal process. You cannot have one without the other for the right to appeal is part of the constitutional envelope that protects American taxpayers.
That said, Florida's affordable and accessable appeal process is the Value Adjustment Board. Until this year, however, the VABs were so rigged, including in your county, taxpayers had little chance of prevailing.
Now, thanks to Representaitve Nehr and Senator Haridopolos, sponsors of House Bill 909, taxpayers really are getting a Chistmas presdent. HB 909 requires VAB adherence to state law, training of special magistrates in the state standards of assessment - and that information is available (always has been) to everyone, VABs employment of outside attorney, puts two private citizens on the VAB in place of two of the elected officials, and a host of other, very important ways the new statute makes it Christmas.
And, the most immediate gift is the new "alternative" petition form. The sentence at the very bottom is a problem, and it's been called to the attention of DOR as improper. Everything else is the form is perfect, for all of the many ways taxpayers were entrapped in the past by the old form have bene removed. And, while the "alternative" form has not been formerly adopted yet - a good thing so that improper sentence can be addressed - it can be used and the VAB must accept it.
So, go to www.myflorida.com/dor select the Property button at the top, and the first link on the Property Page regarding VABs. The new forms and page three, which is the ribbon on the package, are the starting point.
Then, after you filed your petition, read the information for special magistrates. It's critical to know that current sales information is NOT used for assessment purposes. Every assessment is "as of January 1st", and it's the data collected in 2007 and even 2006 that determines each assessment. Everyone in real estate remembers that "taxes are in arrears", and assessments are too. And, for income property, go through DOR Guidelines, also on line, for how income property should be treated for assessment purposes is materially different that for appraisal or real estate analysis. It's not the general methodology, but the use of data, and how the data is used, which is the key.
After you find the sales information for properties similar to yours, break it all down by adjusted square feet (the meansurements used by the Property Aprpaiser) to see if your assessment, on a square foot basis, really is off. Then make your decision about appealing. Most people will not have a case if they use appropriate information.
But for those taxpayers who do use their rights through the VABs, DOR is cleaning up the ways taxpayers have been defrauded over decades, so Happy Holidays ! But, know the process, so you don't waste the gift of accountable government.