[pianogal]

Originally Posted by Dee2e

You were assessed on the purchase price of the home.

NO, I WISH I was being assessed on the purchase price of my home...I am being assessed 160,000 HIGHER than the purchase price of my home. Up 160,000 in two years!

[wacahootaman]

Tax assessments have been frozen at the January 1, 2006 values by the state Legislature.

Tax assessments cannot fall even if your property values fall like a stone.

[tallrick]

So you can be sure that a lot of Florida property owners will be angry when their next assessments are higher than 2006 levels. Hopefully that will get them to vote for the hefty homestead exemption next year.

[kelly3120]

buy one of those cheap houses everyone is talking about. Wait until May of 2050 tho.
ahahahaha. ..sorry, BAD KELLY! I couldn't resist!

[macguy]

Originally Posted by wacahootaman

Tax assessments have been frozen at the January 1, 2006 values by the state Legislature.

Tax assessments cannot fall even if your property values fall like a stone.

Yes they can, that is just a starting point with a cap but they can go down. Reassessments are usually on an individual basis and people who file a grievance will if they have a case, get their taxes reduced. When I had it done there was nothing to it just present your case and don't be an idiot.

[FloridaBoy]

A few notes:

Property in Florida is assessed based on it's value as of January 1st. (See FS 193.011.) To accomplish this, the property appraiser uses sales that occurred prior to that date. Thus, in a falling market, your assessment may actually be higher than the current value. Since he can't use sales that occurred after January 1st, you won't be able to either. (As a side note, this is also why it's a poor idea to use the appraiser's values to try and track the market since he is using sales that are usually very old. Also, a preliminary tax role is not due until mid June and the certified tax roll is not due until October.)

Since property in Florida is based on 'market value', the price you pay is just one factor that is considered. The appraiser is looking more at the market as a whole, and not just one sale. In the business the saying is "one sale does not a market make".

At the current time, the property appraiser has the presumption of correctness. This means to win at the VAB you will need overwhelming evidence that your assessment is discriminatory and/or capricious. You are not allowed to argue that the taxes are too high, your neighbor doesn't pay that much, the system is unfair, etc. You have to accomplish two things: show why the appraiser's comps are incorrect and provide comps of your own.

If you're appealing this year's (2007) assessment, generally speaking you will need to find sales in 2006 that help support your case. The thing to watch for is if the appraiser is using sales that occurred in the first part of the year and not toward the later part (when the market was correcting). It's best to pull vacant sales to establish the land value and then some improved sales to check the overall assessment.

As a final thought, the Department of Revenue audits the appraiser annually to make sure the assessments are "fair and equitable". The Department of Revenue is looking for assessments to be 85% of market value and they use a level of assessment (LOA), price related differential (PRD) and a coefficient of dispersion (COD) to accomplish this task.

[Audacious]

Originally Posted by FloridaBoy

A few notes:

Property in Florida is assessed based on it's value as of January 1st. (See FS 193.011.) To accomplish this, the property appraiser uses sales that occurred prior to that date. Thus, in a falling market, your assessment may actually be higher than the current value. Since he can't use sales that occurred after January 1st, you won't be able to either. (As a side note, this is also why it's a poor idea to use the appraiser's values to try and track the market since he is using sales that are usually very old. Also, a preliminary tax role is not due until mid June and the certified tax roll is not due until October.)

Since property in Florida is based on 'market value', the price you pay is just one factor that is considered. The appraiser is looking more at the market as a whole, and not just one sale. In the business the saying is "one sale does not a market make".

At the current time, the property appraiser has the presumption of correctness. This means to win at the VAB you will need overwhelming evidence that your assessment is discriminatory and/or capricious. You are not allowed to argue that the taxes are too high, your neighbor doesn't pay that much, the system is unfair, etc. You have to accomplish two things: show why the appraiser's comps are incorrect and provide comps of your own.

If you're appealing this year's (2007) assessment, generally speaking you will need to find sales in 2006 that help support your case. The thing to watch for is if the appraiser is using sales that occurred in the first part of the year and not toward the later part (when the market was correcting). It's best to pull vacant sales to establish the land value and then some improved sales to check the overall assessment.

As a final thought, the Department of Revenue audits the appraiser annually to make sure the assessments are "fair and equitable". The Department of Revenue is looking for assessments to be 85% of market value and they use a level of assessment (LOA), price related differential (PRD) and a coefficient of dispersion (COD) to accomplish this task.

Right on the money. Your assessment is broken down into two parts. The land value and the improved value with the improved value being your house. They are added together and that is your assessment. The guidelines used by appraisers is called USPAP. Basically a valid appraisal is one that uses comps within a mile of your property and are no more than 6 months old so your comps should be between June 31, 2006 and Dec 31, 2006for the purpose of assessment.

The prices of vacant lots fell quite a bit in the second half of 2006 as did the prices of homes so this should help your cause. As Floridaboy said, you need to get comps on vacant land and improved property. Just as a reference point. If you live in a 3000 SF house worth 400K and the house down the block is a 1500 SF house worth 150K then you CANNOT use that house as a comp. Your comps must be "like kind" The same applies to the value of land. A 20,000SF lot is not the same as a 7500SF lot.

Although Zillow.com can be way off on current market values they do provide recent comps within the subject area. As part of your research you should also look at the properties you are using for comps and take a picture to support the validity of the comp. If your house has a pool and lush landscaping and one of your comps is owned by a "gypsy" with weeds a foot tall, broken car in the yard etc etc, you get the picture here, "like kind"

Have good data and prepare your case in advance, try to anticipate where you will be challenged and have the answers ready. The appeal process is not that complicated if you do your homework and you CAN win more often than not. Good Luck

[macguy]

Originally Posted by Audacious

Right on the money. Your assessment is broken down into two parts. The land value and the improved value with the improved value being your house. They are added together and that is your assessment. The guidelines used by appraisers is called USPAP. Basically a valid appraisal is one that uses comps within a mile of your property and are no more than 6 months old so your comps should be between June 31, 2006 and Dec 31, 2006for the purpose of assessment.

The prices of vacant lots fell quite a bit in the second half of 2006 as did the prices of homes so this should help your cause. As Floridaboy said, you need to get comps on vacant land and improved property. Just as a reference point. If you live in a 3000 SF house worth 400K and the house down the block is a 1500 SF house worth 150K then you CANNOT use that house as a comp. Your comps must be "like kind" The same applies to the value of land. A 20,000SF lot is not the same as a 7500SF lot.

Although Zillow.com can be way off on current market values they do provide recent comps within the subject area. As part of your research you should also look at the properties you are using for comps and take a picture to support the validity of the comp. If your house has a pool and lush landscaping and one of your comps is owned by a "gypsy" with weeds a foot tall, broken car in the yard etc etc, you get the picture here, "like kind"

Have good data and prepare your case in advance, try to anticipate where you will be challenged and have the answers ready. The appeal process is not that complicated if you do your homework and you CAN win more often than not. Good Luck

Like a judge the property appraiser is very powerful. All that stuff talked about is true but all you care about is your taxes and you get in front of the appraiser and you will be surprised you may get what you want. I don't care if everybody is getting ripped off thats their problem, as long as I get mine right. I have had very good success meeting the the appraiser and know others who have as well.

[kort677]

Originally Posted by macguy

Like a judge the property appraiser is very powerful. All that stuff talked about is true but all you care about is your taxes and you get in front of the appraiser and you will be surprised you may get what you want. I don't care if everybody is getting ripped off thats their problem, as long as I get mine right. I have had very good success meeting the the appraiser and know others who have as well.

true sometimes you can settle with the property appraiser before having to do a full blown appeal

[macguy]

Originally Posted by kort677

true sometimes you can settle with the property appraiser before having to do a full blown appeal

He has nothing against you, present a sensible case and it will go fine.