Your Truth in Millage (TRIM) Notice

The Property Appraiser mails the annual Truth in Millage (TRIM) Notice of proposed property taxes every summer -- usually during the second week of August. Read below for what you must do to best protect your rights as a taxpayer.

1. CAREFULLY READ YOUR PROPOSED PROPERTY TAX NOTICE.

Many taxpayers ignore their Truth in Millage Notice (“TRIM Notice”) of proposed property taxes until it is too late to challenge an assessment or question the proposed tax rates. If you wait until you receive your tax bill in November to complain about your taxes, you will lose your right to appeal the assessment. The first thing to know is that your taxes are calculated on this formula: TAXABLE VALUE x TAX MILLAGE RATES + SPECIAL ASSESSMENTS = TAX BILL. The Property Appraiser determines the assessed value of your property. IMPORTANT: The Property Appraiser does NOT set any tax rates. Your tax millage rates are set by the various governmental taxing authorities (School Board, County Commission, City Commission, hospital district board, water management district, and so on) listed on your TRIM Notice.

2. SPEAK OUT ABOUT PROPOSED TAX RATE HIKES & FEES.

Your TRIM Notice contains proposed TAX RATES set by the named taxing authorities (i.e., School Board, County/City Commission, etc.). Properties in Broward County on average dropped by 10.7% in taxable value this year -- the biggest single-year decline in several decades. Nearly all neighborhoods saw values decline. Despite these economic problems, several taxing authorities in Broward are proposing tax rate increases. If you want to question your proposed tax rates, the non-ad valorem fees and special assessments, or services being cut from local budgets, you should contact your elected officials who serve on those taxing authorities or attend the public hearings in September. Your TRIM Notice has all of the hearing dates, locations and contact phone numbers for each taxing authority.

3. CHALLENGING YOUR PROPERTY’S ASSESSMENT.

By Florida law, your TRIM Notice reflects our office’s ASSESSMENT of your property’s taxable value as of January 1, 2009. For nearly all non-homesteaded property, the assessed value is identical to the property’s market value. For homesteaded property, your assessed value is your “Save Our Homes” value. In most instances, the market values are determined using a mass-appraisal process based upon sales of comparable properties during 2008. BOTTOM LINE: If you believe the market value of your property printed on the TRIM Notice is more than a buyer would have reasonably paid for your property on January 1, 2009, you must call or email our office or file a value petition by the September 18, 2009 deadline. Click here for our contact phone numbers and email addresses.

Florida's "Recapture" Law May Raise Some Assessed Values Even When Market Values Drop

Under Florida law, a homestead “recapture” rule may cause some taxable values to rise even when the overall market value dropped from last year. If you are Homesteaded and your “Save Our Homes” (SOH) value is less than the market value as of January 1, Florida Administrative Code Rule 12D-8.0062(5) explicitly orders our office to increase your overall assessed value each year (up to the 3% annual cap level) until it eventually reaches the same amount as the market value. Although the Department of Revenue set this year’s SOH cap rate at 0.1% -- meaning your Homesteaded assessed value will be almost unchanged from last year -- you will likely not experience any noticeable decline in taxes even though your market value dropped. Roughly 261,000 Broward homeowners will experience the recapture effects of this law in 2009 -- mostly owners who purchased and homesteaded their properties before 2003. Click here to view the applicable law. Talk to your State Senator and State Representative if you believe this recapture provision should be amended or repealed.

Property Values vs. Millage (Tax) Rates

If you don’t like what you see in your TRIM Notice, who should you call?

VALUES & EXEMPTIONS - The Property Appraiser is responsible for determining market values, assessed values, and applying exemptions and special classifications (non-profits and agricultural). If the VALUE is more than you believe a buyer would have paid for your property on the open market as of January 1 -- or you applied for an EXEMPTION but it wasn’t printed on the TRIM Notice -- call the Property Appraiser’s office.

TAX RATES & SPECIAL ASSESSMENTS - If you think the amount of TAXES is too much, the MILLAGE RATE is too high, or the non-ad valorem FEES are too costly, you need to contact the taxing authorities (City Commission, County Commission, School Board, hospital district, etc.) listed on your notice. The Property Appraiser does NOT set your tax rates nor collect the taxes.

Foreclosures, Short-Sales and Your 2009 Assessment

The Florida Department of Revenue (DOR) recently issued an opinion advising Property Appraisers that we may now “qualify” a foreclosure sale (or short sale) if the property was listed for open market sale on the MLS and the property was in good condition. Tax Year 2009 is the first time DOR is allowing foreclosure sales to be qualified in determining assessments. DOR believes -- and we agree -- those MLS-listed foreclosure sales are often “normal” sales reflecting market values in this current recession. All assessments in Florida are done a year in arrears, per state law. This means the 2009 market value printed on your TRIM Notice is based on actual market prices realized for similar properties sold between January 2, 2008 and January 1, 2009.

“How Can I Challenge My Appraised Value?”

If you think the market value for your property is wrong ... or an exemption you thought you had did not appear on your TRIM Notice and ... the first thing you should do is call our office. One of our appraisers will be happy to speak with you, listen to your concerns, and discuss the data we used to reach the value. If there was a mistake, we’ll correct it. If -- after speaking with you -- we still believe our value is accurate, we’ll explain the easy steps you can take to file an appeal with the Broward County Value Adjustment Board (VAB), an independent and quasi-judicial review board. Most important: If you cannot resolve the issue after speaking with us, you MUST file a VAB petition by the September 18, 2009 deadline.