In early August property owners will receive a TRIM notice from Broward County. This notice will show what your property is worth (assessed value) according to the property appraiser. It also shows what your taxes will be for 2008.

Note the market value, the assessed value, just value and the Save Our Homes value. What do these mean?  The market value is a meaningless number on homesteaded property.  Just value is 85% of market value taken one year in arrears.  The Save Our Homes Value will reflect the amount that your tax is based on if you have been in the homes for a few years and it is your homestead.

The assessed value is important to you.  Ask yourself, “Could I sell the property for the assessed value?” If not, you will be paying too much tax!!  What to do?  File a petition with the Value Adjustment Board by September 19, 2008. This will give you the right to have a hearing. In the hearing you will have to prove your case.  Show sales in your area that have closed prior to Jan 1, 2008. Sales should be similar in size, features and location to your home.The special master (appraiser hired by the County) will hear and consider your evidence. If you have had an appraisal done in 2007 for other purposes (estate, divorce, or mortgage) it can be used to support your case.  Also, an agent, such as my business associate, Tom, can be hired to represent you at the hearing. Typically these agents work on a contingent fee basis (40 to 50% of the tax saving). This is a one time fee. If you need help or have questions please call: Thomas R. Wachtstetter ASA IFA, Certified General Appraiser RZ #451