Property TaxIt feels like tax season is always upon us, and this time of year is no different. The month of August, and specifically the second week of August, marks the typical time of year when the Property Appraiser’s office sends out TRIM Notices to all property owners in the county. TRIM Notices are sent out for all types of property, including residential and commercial.

What is a TRIM Notice?

A TRIM Notice stands for the “Truth in Millage” notice, and reflects the official notice of proposed property taxes as required by Florida law. The TRIM Notice is not your property tax bill, but is an estimate of your property taxes based on the proposed millage rates for that taxing year, your property values as of January 1 of that taxing year, and any applicable exemptions applied to your property, such as your homestead exemption.

If your TRIM notice isn’t a bill, then why is it important?

Continue Reading August Marks TRIM Notice Season

As of January 1st of 2017, it has been reported that the total value of real property in Lee County increased for the fifth consecutive year to $105.6 billion (nearly 9% higher than 2016 values).

With this year’s Truth in Millage (“TRIM”) Notices just around the corner (typically mailed by the Lee County Property Appraiser in mid-August), one recent legal opinion highlights the nuances of remedies available to the property owner—and the Property Appraiser—in the event assessed values are contested.

Background on Florida’s “Save Our Homes” Doctrine

For real property that has been classified as a “homestead” in Florida, the Save Our Homes provision of Section 193.155(1), Florida Statutes, allows for an annual increase of only 3% in the assessed value of property, or the yearly increase in the Consumer Price Index (CPI), whichever is less. Moreover, under 193.155(2), Florida Statutes, if the capped value exceeds the market value in a given year, the capped value will be reduced to the market value.

Nikolits v. Haney

Continue Reading Homestead, Save Our Homes, and Corrections to Assessed Value: Are You Ready for Your 2017 Property Taxes?