You must analyze your real estate tax bill this year.

This year could be a strange one for real estate taxes with as much appreciation as we’ve had. If you are homesteaded (homestead, taxes, portability explained), you will be safe as your taxes can only go up 3% a year. Great reason to be a full time resident of Florida (6 months and 1 day)! If you are not homesteaded, you want to keep an eye on this years number.  While you can expect a significant double digit rise in your taxes, prices can be so all over the place that it’s important to know your details. As a recent example, in one subdivision there were 16 sales that took place in the prior year but one recent sale will throw everything out of whack. Unique lot situation, over the top pool added and sold furnished.  This particular sale adding $150 a square foot could add $4,000 to a homeowners tax bill across the board on top of already increased priced in a $500,000 neighborhood.  Being able to dive into the details of these 1-off sales to the adjustment board might reverse that. Years ago I helped an individual who got taken advantage of and overpaid to the tune of $500,000 on a home.  The board adjusted it and $10,000 a year was saved.

If you’d like some analysis on your recent property Tax Trim Notice (2021 Notice of Proposed Property Taxes), please email me HERE.  We would be glad to provide a determination of value for you. Also, we can help explain how to calculate portability, which offers tax savings when you sell your home and move to another one.

*Note that any tax appeal to be heard by the value adjustment board value adjustment board needs to be filed by 9/13/2021. It only takes a few minutes to fill out the petition. Please email me HERE and provide me with your phone number and property street address. It would be my pleasure to give you a rough determination. There is no charge for this service – it’s just part of what we do.

CLICK HERE TO CONTACT JEFF ABOUT YOUR POSSIBLE SAVINGS