Tuesday, September 8, 2009

Nasty surprises in the mail for Florida's homeowners

Florida's homeowners are about to start receiving some nasty surprises in the mail! Countless cities and counties across the State have raised their millage rates (sometimes by as much as 40%) and the TRIM notices reflecting your increased property taxes (despite your very depressed property value) are already in the mail.

Owners have 25 days following receipt of their tax notices to appeal to the Value Adjustment Board. The deadline is listed on the bottom of the TRIM notice. Several deadlines are as follows:

Broward County: September 18

Miami-Dade: September 18

Collier: September 11

Lee County: September 15

Palm Beach: September 14

An association can authorize an agent to pursue an appeal on behalf of the entire building and the owners are automatically included in that appeal process unless they opt out. Of course, the association can always decide not to pursue that appeal at some later date but filing for appeal with the Value Adjustment Board by the deadlines listed above at least preserves the association's and the owners' rights to do so.

Often an appeal will be successful but you first have to know to fight the battle! More money in your owners' pockets means a greater ability to pay your association's assessments. A lower taxable value on the property overall can also translate into lower insurance premiums. This is one shot at lowering your tax bill you don't want to pass up.

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