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Old 06-02-2010, 09:37 AM
 
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quick question...

I purchased a home in 2009. I just got my new taxable amount on the bcpa.net website (the new amounts were posted June 1...I have been anxiously awaiting the results). At this point, I am now "locked in" to that amount, and my taxes cannot go up more than 3% a year...correct?

I understand the mil rate could change (how likely is that to happen, BTW?) but barring that...my taxes will not go up more than 3% a year, right?
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Old 06-02-2010, 09:50 AM
 
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Originally Posted by dirtymartini View Post
quick question...

I purchased a home in 2009. I just got my new taxable amount on the bcpa.net website (the new amounts were posted June 1...I have been anxiously awaiting the results). At this point, I am now "locked in" to that amount, and my taxes cannot go up more than 3% a year...correct?

I understand the mil rate could change (how likely is that to happen, BTW?) but barring that...my taxes will not go up more than 3% a year, right?
Not quite correct.....first of all...you must apply for the Homestead exemption...if you have done this then the law is that your ASSESSMENT,{not your taxes}, cannot go up more than 3% a year or the rate of inflation, whichever is less.
You are correct that millage rates can change and they very well may. Because of the housing crisis...the assessed value of property in any county has decreased substantially in the last few years. The only way to meet city, county budgets is to either cut services or raise millage rates. Of course, it is probably political suicide to raise millage rates in this economy.
Hope this helps
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Old 06-02-2010, 10:10 AM
 
112 posts, read 387,857 times
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I was racing back here to edit my post...to add that yes, we filed for homestead exemption. You beat me to it!

Yes, we do have homestead. So wait...you mean the assessed value of the house cannot go up more than 3%? So the assessed value DOES include my portability (we sold a home in 2008, so we have a decent chunk of $$ taken off that amount) but does NOT include my homestead.

(just thinking outloud!)---^^^^
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Old 06-02-2010, 12:04 PM
 
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Originally Posted by dirtymartini View Post
I was racing back here to edit my post...to add that yes, we filed for homestead exemption. You beat me to it!

Yes, we do have homestead. So wait...you mean the assessed value of the house cannot go up more than 3%? So the assessed value DOES include my portability (we sold a home in 2008, so we have a decent chunk of $$ taken off that amount) but does NOT include my homestead.

(just thinking outloud!)---^^^^
If you take a look at your property on this site Broward County Property Appraiser's Network it will have the information about your property.
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Old 06-02-2010, 12:40 PM
 
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thanks Mommabear...trust me, I am on that site ALL the time! That's where I see my portability and my new 2010 assessment. I cannot find the specific 3% rule anywhere on that site. If you can find it, please post a link. I have known the 3% rule for many years, but I was just making sure that it is THIS year (2010) that I am finally locked in to my assessed amount.

I am anxiously awaiting July 1, because that is when I will find out excatly how much I am getting for agricultural, too. Between portability and agricultural, we are doing pretty good!
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Old 06-02-2010, 01:41 PM
 
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Originally Posted by dirtymartini View Post
thanks Mommabear...trust me, I am on that site ALL the time! That's where I see my portability and my new 2010 assessment. I cannot find the specific 3% rule anywhere on that site. If you can find it, please post a link. I have known the 3% rule for many years, but I was just making sure that it is THIS year (2010) that I am finally locked in to my assessed amount.

I am anxiously awaiting July 1, because that is when I will find out excatly how much I am getting for agricultural, too. Between portability and agricultural, we are doing pretty good!
You're going to love the ag exemption...we were paying only $2400 in taxes on a house appraised at $998k in 2005...
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Old 06-02-2010, 02:27 PM
 
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what happens if my home assessment is at .. let's say $200k this year, i file for homestead exemption, and in 2011 my assessment becomes $150k, am i locked in the 200k rate by filing the exemption?
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Old 06-02-2010, 03:16 PM
 
112 posts, read 387,857 times
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mrgodai-I, too, was wondering...can my taxes go DOWN if housing prices fall further? I think that is what you are asking.

fauve-hello friend! From what I understand, AG is only taken off your *land* value...not your building or assessed...correct? Do you remember how it was calculated? From what I gathered from speaking with the AG dude at BCPA (he is very nice, BTW) if I can get 1/4 acre considered AG, I will save about 1k a year. If I can get 1/2 acre then I would save 2k. We have a mini horse boarded here and we pretty much let him graze the property all day (we have .87 acre total that we own...seems like more because of some city owned property adjacent to ours.)

Just curious...where did you live that you had AG...was it Plantation Acres or Davie? Did you have horses?
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Old 06-02-2010, 03:23 PM
 
3,043 posts, read 7,249,112 times
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Originally Posted by dirtymartini View Post
mrgodai-I, too, was wondering...can my taxes go DOWN if housing prices fall further? I think that is what you are asking.

fauve-hello friend! From what I understand, AG is only taken off your *land* value...not your building or assessed...correct? Do you remember how it was calculated? From what I gathered from speaking with the AG dude at BCPA (he is very nice, BTW) if I can get 1/4 acre considered AG, I will save about 1k a year. If I can get 1/2 acre then I would save 2k. We have a mini horse boarded here and we pretty much let him graze the property all day (we have .87 acre total that we own...seems like more because of some city owned property adjacent to ours.)

Just curious...where did you live that you had AG...was it Plantation Acres or Davie? Did you have horses?
hey friend! We had a small house on 2 1/2 acres in Davie. 2 acres were used as a plant nursery. Since most of the value was in the land (not the house), there was a huge savings. We did not have a horse, but Im pretty sure ag is ag. And yes, it's off the value of the land.
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Old 06-02-2010, 03:45 PM
 
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ahhh...ok. yeah, that was smart...most of the land used for AG. I am not sure if they will consider the yard as "pasture" though. I will find out July1 exactly how much we will save. Right now, looks like our taxes are at 3k (with portability and homestead) so if they can go down to 2k, that is great. 1k would be a DREAM, tho! Just depends on whether they will count 1/4 acre or 1/2 acre.
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