Property Taxes

I was on the Fox 13 Kathy Fountain show last Wednesday for a discussion about Valuation in regards to Property Tax with Rob Turner. It was a very good experience as I researched quite a bit of additional information prior to the show. I began to interview individuals in the Real Estate Industry and property owners. What I found was that quite a few people had questions regarding the whole property tax issue/process and had questions about why their property’s’ valuation by the county was not lower.

But first, in the research I did, I pulled up the tax filings for Hillsborough County that was reported to the FDOR as of 06/27/2008. What it showed was a 13% increase in net taxable values for Hillsborough County, after the new homestead exemption was applied. “?”. Yes 13% you can click here to view it yourself. I hope someone could correct me on this or tell me which part I am not reading right. But if that is the case I would be a little confused. For those of you who missed the show last week, our 2008 property tax bill is based on 2007 data valued as of 01/01/08. So with the new homestead exemption, along with portability, and the beginning of market decreases, along with the “Recapture Rule” I would have thought there would not have been this kind of increase. There is a process for you to appeal your property tax and you can go to my property tax 2008 button on the left hand side of my site to find out how. I know that some people are aware of how to challenge the property tax valuation, but I still find quite a few people, almost, everyone I talk to , who don’t know the process or are intimidated by it. If you have ever been to traffic court, the process is less intimidating than that, well, especially because you didn’t do anything wrong. With the help of an appraiser you can really know where you stand and how to approach the appeals process. You need to realize though you only have until September 16, 2008, to file the appeal paper work. Call me and I will be glad to help you.

Posted by R. DAVID TEACHER RD5716 ST.CERT.RES.REA on August 25th, 2008 12:03 PMPost a Comment (1)

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Ditto on the "competency" of some of these BPO reports. From someone who has worn both hats (appraisal/broker). But I'd take issue on this part of your blog- "There is some good news that might help out. The current administration is considering pushing through a bankruptcy law change that would allow judges to modify and alter the original mortgage and loan. If passed, I guarantee that it will stem this tide of foreclosures on the market and expedite the return of our Real Estate market to health." One thing most of us can agree on is real estate market HAS to stabilize before the general economy can. In my opinion, banks have to start lending again for this to happen. Does anyone REALLY believe banks will loan MORE FREELY if some bankruptcy judge can modify their collateral obligation?? I think that's a recipe for depression. This attitude could snowball into cars, credit cards, whatever. Once the security is gone, and people think they don't have to repay--we're done!! We can't make the cure worse than the disease

Posted by Tim Miles on February 3rd, 2009 1:47 PM