TAX APPEALS

FAIR AND EQUITABLE

The tax assessor's office has a goal to make sure the tax burden is spread among us all in a fair and equitable manner. They use a computer modeling technique called "mass appraisal" in order to deal with the tens of thousands of properties that they have to assess. This works well enough for the majority of properties but not all. For some, the result seems to be an unfair burden with taxes too high and the property valued inconsistent with the neighborhood.

 PUBLIC RECORDS

The next step is to try and figure out what to do about it and most people run to public records. Here are the links that you'll need to look up your house and then compare with what your neighbors are assessed at and what they're paying:  Palm Beach County Public Records and Broward County Public Records.

The problem is, what your neighbor is assessed at and what they're paying in taxes, even if they have a very similar house right down the street, may or may not have an impact on your taxes. This is a cause of much confusion. There are many factors involved that will distort and impact any particular property assessment: when the property was first purchased and it's exposure to the "Save My Florida Home" program; whether the owner is a widow, a veteran, handicapped, elderly, a foreigner, homesteaded or not and other factors. 

MARKET VALUE

The only thing that matters in tax appeals is the fair market value of the property. What it would have sold for on the open market (MLS) as of January 1, of the year in question. Here's  the /florida statute for those interested FACTORS IN JUST VALUATION NOTICE.pdf

HOW TO APPEAL 

There are generally three different ways to approach a tax appeal: 1. gather up all the information you can and go it alone. Fill out the appropriate applications and pay the fees. 2. Get an appraisal of your property by a certified real estate appraiser to be your key evidence in the hearing. Part b. (optional) hire the appraiser to stand with you in front of the board and defend their appraisal. 3. Hire a tax appeal company that will hold your hand all through the process, fill out the applications, respond to all the communications, go to the hearing with or without you and most of all....take about 50% of the tax savings if you win as well as a piece of the future years savings in some cases. They work like a trial lawyer does, on a contingency basis, with no upfront costs to you but a big payoff for them in the end. This is a very expensive way to go in the end.

HOW IT WORKS 

A very good appraiser friend of mine is a special magistrate and sits as a judge before the VAB (the Valuation Adjustment Board) that will hear your tax appeal case. Virtually all special magistrates are certified appraisers that are designated (SRA or MAI) and know their way around an appraisal.

The county property appraiser opposing you will also have a certified appraiser do a market value appraisal of your property. That will be their evidence when they come to the hearing.

Then comes you, the taxpayer. Most folks walk in with a folder of scattered papers, some unverified comparables from public records or their realtor, maybe a free value from an online website like Zillo and some newspaper clippings about the declining market. How compelling a case do you think this makes to these professionals?

APPRAISAL TO THE RESCUE

An appraisal is a formal and detailed argument for the value of your property. The better it is written the stronger the argument. It does all the work for you before the VAB. A well written appraisal report will not only have a thorough description of your property and the market trends, but will pull together all the best comparable sales available with an analysis of each. These comparable properties are then balanced against your property with adjustments that are well supported by market data. You are now fighting fire with fire. For those who want to feel as comfortable as possible in front of the VAB, they can hire the appraiser to stand with them. The appraiser, however, by law, can only be there as an advocate of his or her appraisal, not your advocate like an attorney would be. The truth is though, after the appraisal is presented, explained and supported by the appraiser, there's not much more to say in a tax appeal.

CALL ME AND I'LL BE HAPPY TO TO DETERMINE IF YOU HAVE A CASE AND WHETHER IT'S WORTHWHILE TO PROCEED WITH AN APPEAL OR NOT. BILL RUSH: 561-859-4948 OR williamrushsra@comcast.net   

*Over a Billion Dollars of Real Estate Appraised*

PALM BEACH COUNTY LINKS OF INTEREST:

VAB - FAQs

THE VAB AND FILING OF PETITIONS

THE PROPERTY TAX CYCLE 

BROWARD COUNTY LINKS:

THE VAB AND THE APPEALS PROCESS