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Broward County TRIM (proposed real estate tax) Notices and Appeals

Date 07-12-2018

The Broward County Property Appraiser’s Office (BCPA) will be mailing out their annual TRIM (proposed tax) Notices some time in mid-August.  The proposed property tax notice will show your 2018 property assessment, exemptions and the proposed taxes along with dates and times for the various taxing authorities’ public budget hearings. Take note that the TRIM Notice is your opportunity to review your property assessment and ensure you are receiving all the tax-saving exemptions you are entitled to. If you have any questions about the TRIM Notice, you can contact BCPA directly using the number provided in the mailing, giving you the opportunity to contact them directly should you have any questions. The most important thing to note is that if you wish to apply for any 2018 exemption or to appeal your property assessment, the absolute deadline for doing so is September 18, 2018.

The first thing to know is your taxes are calculated using this formula:

TAXABLE VALUE x TAX MILLAGE RATES + SPECIAL ASSESSMENTS = TAX BILL

The Property Appraiser determines the market and assessed/Save Our Homes value of your property. Your tax rates and non-ad valorem fees are set by the various taxing authorities (school board, county commission, city commission, hospital district board, water management district, and so on) listed on your TRIM Notice. If you want to question your proposed tax rates, non-ad valorem fees, special assessments or services, you should contact the elected officials who serve on the taxing authorities and attend the public hearings in September 2018.

Important: The Property Appraiser does not set your tax rates or collect your taxes. Your tax rates are set by the city & county commissions, school board, and other taxing authorities. Additionally, any PACE (Property Assessed Clean Energy) assessments are not included on the TRIM Notice but will appear on the November tax bill sent by the Broward County Tax Collector.

Typical question from property owners:  Why Are My Property Taxes Higher than the Prior Owner’s Last Year?  Florida law requires property be reassessed at market value as of January 1 the year following a change in ownership and/or the year the property receives/loses the Homestead Exemption. After this reset in value occurs, the property will be protected by an assessment cap starting the following year. For Homesteaded property, the Assessed/Save Our Homes (SOH) Value can increase by no more than 3% above last year’s Assessed/SOH Value (or the consumer price index, whichever is less), regardless of the increase in just value. For tax year 2018, the assessment increase is capped at 2.1% for all Homesteaded properties. For non-Homesteaded property, the assessed value can increase by no more than 10% above last year’s assessed value. The 10% cap does not apply to the School Board taxes.

Many property owners ignore their TRIM Notice until it is too late to appeal an assessment, question the proposed tax rates, or file for exemptions. If you wait until you receive your tax bill in November to inquire about your assessment, you will lose your right to appeal. If you are a residential or commercial real estate owner, you may have grounds for an appeal.  For example, construction that has been lingering or is expected to take a while to complete may be a great way to get a reduction.  Call us and find out what you can do to appeal those valuations and get the reduction you are entitled to.

Should you believe that you are entitled to a reassessment for any reason whatsoever, reach out to Khani & Auerbach and we can assist you.  REMEMBER THE DEADLINE, SEPTEMBER 18TH!