TRIM notice - increased assessement and millage rates (Sarasota, Homestead: sales, vehicle registration)

[d4g4m]

It's that time of the year that TRIM notices are received by property owners [Sarasota Co.] and even though the market values of our homes have decreased by 40-50% in the last few years and the SOH provision is just about nil, we get to see how much more our taxes will increase.
Even though you see that your 'market value' is less, again, the property appraiser is allowed to increase the assessed value every year, up to 3% or the CPI, which ever is lower. The Federal government reported that the CPI was 2.7%. [even though social security recipients were told it was zero%] So, of course assessed values have increased 2.7%
What's a county government to do when 2.7% isn't enough money? Simple and very easy - increase the millage rates. And every taxing authority has done so. Current total rate is 13.0861 The rate will be 14.4806 [10.7% increase] if no budget changes are made or 13.5601 [3.6% increase] if proposed budget changes are made. Higher taxes on an increased assessement and hight millage rates.
Florida received $8 billion 'stimulus' money. And some of the additional $10 billion to save teachers jobs. Both not enough. [60% of tax bill is for schools] And let's not forget the extension of the 1% sales tax. Or how about the doubling of vehicle registration fees or the additional $1.00 tax on a pack of cigarettes [supposed to bring in $1 billion a year] And there will be a revenue camera on a traffic light at an intersection near you. All of this is not enough money. Dig deeper into your pockets to pay more taxes for higher county worker salaries, health benefits and pensions.
And for those of you living in the city limits of Sarasota, Venice or North Port and/or a CDD, fork over even more money.
Still working? have kids? married? have investments? Be ready for a big surprise on January 1

[beachbum wannabe]

Originally Posted by d4g4m

It's that time of the year that TRIM notices are received by property owners [Sarasota Co.] and even though the market values of our homes have decreased by 40-50% in the last few years and the SOH provision is just about nil, we get to see how much more our taxes will increase.
Even though you see that your 'market value' is less, again, the property appraiser is allowed to increase the assessed value every year, up to 3% or the CPI, which ever is lower. The Federal government reported that the CPI was 2.7%. [even though social security recipients were told it was zero%] So, of course assessed values have increased 2.7%
What's a county government to do when 2.7% isn't enough money? Simple and very easy - increase the millage rates. And every taxing authority has done so. Current total rate is 13.0861 The rate will be 14.4806 [10.7% increase] if no budget changes are made or 13.5601 [3.6% increase] if proposed budget changes are made. Higher taxes on an increased assessement and hight millage rates.
Florida received $8 billion 'stimulus' money. And some of the additional $10 billion to save teachers jobs. Both not enough. [60% of tax bill is for schools] And let's not forget the extension of the 1% sales tax. Or how about the doubling of vehicle registration fees or the additional $1.00 tax on a pack of cigarettes [supposed to bring in $1 billion a year] And there will be a revenue camera on a traffic light at an intersection near you. All of this is not enough money. Dig deeper into your pockets to pay more taxes for higher county worker salaries, health benefits and pensions.
And for those of you living in the city limits of Sarasota, Venice or North Port and/or a CDD, fork over even more money.
Still working? have kids? married? have investments? Be ready for a big surprise on January 1

They might as well take away Christmas and our Birthdays too cause we wont be able to afford them anyhow

[rachel.gamberg]

this is freaking me out!!!!!!!!!! we just acquired a home through a family trust mortgage free but GAH it's sounding worse and worse to relocate back to SRQ.

[davery5872]

Originally Posted by d4g4m

It's that time of the year that TRIM notices are received by property owners [Sarasota Co.] and even though the market values of our homes have decreased by 40-50% in the last few years and the SOH provision is just about nil, we get to see how much more our taxes will increase.
Even though you see that your 'market value' is less, again, the property appraiser is allowed to increase the assessed value every year, up to 3% or the CPI, which ever is lower. The Federal government reported that the CPI was 2.7%. [even though social security recipients were told it was zero%] So, of course assessed values have increased 2.7%
What's a county government to do when 2.7% isn't enough money? Simple and very easy - increase the millage rates. And every taxing authority has done so. Current total rate is 13.0861 The rate will be 14.4806 [10.7% increase] if no budget changes are made or 13.5601 [3.6% increase] if proposed budget changes are made. Higher taxes on an increased assessement and hight millage rates.
Florida received $8 billion 'stimulus' money. And some of the additional $10 billion to save teachers jobs. Both not enough. [60% of tax bill is for schools] And let's not forget the extension of the 1% sales tax. Or how about the doubling of vehicle registration fees or the additional $1.00 tax on a pack of cigarettes [supposed to bring in $1 billion a year] And there will be a revenue camera on a traffic light at an intersection near you. All of this is not enough money. Dig deeper into your pockets to pay more taxes for higher county worker salaries, health benefits and pensions.
And for those of you living in the city limits of Sarasota, Venice or North Port and/or a CDD, fork over even more money.
Still working? have kids? married? have investments? Be ready for a big surprise on January 1

It is my understanding that the increase in millage is to offset the decrease in property values. In the reading that I have done, it states that in most all situations the actual tax will be less than last year. Keep in mind the millage rates decreased during the boom years when property value was increasing.

I understand the frustration with paying taxes. I am a part time resident and I pay more taxes that full times residents. No Homestead or SOH for me. And why should I pay school taxes, I'm never going to use them? How about public transportation? Not for me, why do I have to pay for it? Why should I pay to upkeep the inland waterways? I don't have a boat. We do it because we have a shared interest in Sarasota. Because we know that it increases the quality of life here for everyone. And if you cut services too much it will reflect in the property values (although what is "too much" is a debatable point).

Anyway, do you have specific information of increased salaries for any government workers? I have not heard of this.

[beerme1]

All this research and yet feeling so dumb...I understand Homestead enough. But I thought SOH meant save our homestead and were in fact talking about the same thing. Homestaed.
That is not the case I see. Well more research I guess lol.

For me I kniow that what we pay in taxes here will never happen down there. Period.

[Harbor Hopper]

FYI... Charlotte county will be getting their TRIM notices by Monday 8/23. Most (MOST) taxes will decrease, but probably not a lot. The decrease in home values is being off-set by (of course) increased general fund and safety millages. Spend spend spend!!!

[davery5872]

Originally Posted by Harbor Hopper

FYI... Charlotte county will be getting their TRIM notices by Monday 8/23. Most (MOST) taxes will decrease, but probably not a lot. The decrease in home values is being off-set by (of course) increased general fund and safety millages. Spend spend spend!!!

If I am reading the notice correctly, my taxes will decrease about 30%. Of course that is until they raise the rate.

[d4g4m]

Again- you don't pay taxes on what anyone thinks the market value might be. You pay taxes on the assessed value as determined by the appraisers office. And the Sarasota appraiser has increased values by 2.7%
The current cumulative millage rate for Charlotte Co is 15.9417, which [who knew ] is higher than Sarasota.
And don't forget to add the non-ad valorem fees like fire, garbage, flood control etc. and CDD fees [if you're in one]
And the only way taxes would decrease is if you went from non-homestead to homestead [on the same property, about $350] or you moved from a $200,000 house to a $100,000 house.
About the SOH amount- Part of the FL constitution amendment allowed home purchasers to take the difference between market value and assessed value and apply it to reduce the assessed value of the new home you purchase. A few years ago, and especially if you lived in your home for 10-15 years, the amount was substantial. Of course we know that home values have decreased but some values as set by the appraisers office are ridiculously low wiping out any amount that can be applied to a new home.

[davery5872]

Originally Posted by d4g4m

Again- you don't pay taxes on what anyone thinks the market value might be. You pay taxes on the assessed value as determined by the appraisers office. And the Sarasota appraiser has increased values by 2.7%
.

It appears my assessed value is 22% less than last year.

[Harbor Hopper]

Originally Posted by davery5872

If I am reading the notice correctly, my taxes will decrease about 30%. Of course that is until they raise the rate.

I was talking about Charlotte County. I see you're in Sarasota Co. It all depends on where in each county you live. Some may go up, some may go down.