property taxes

2108 Property Tax Bills Are in the Mail

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houseWhile Khani & Auerbach practices real estate law beyond the tri-county area, we thought it might be beneficial for us to share this very useful information we received from the Broward County Property Appraiser’s office for our Broward County clients.  We hope you find the information beneficial.

Broward County Mails the 2018 Property Tax Bills

The Broward County Tax Collector’s Office recently mailed the 2018 tax bills to all property owners. While the Broward County Property Appraiser’s office does not set or collect these taxes, they wanted to share important information about the payment options available to property owners. If you have any questions about your tax bill or payment, please contact the Tax Collector’s office directly at (954)831-4000. Tax bills are also available to view, print, and pay online at https://broward.county-taxes.com starting November 1. For taxpayers whose bills are paid by escrow arrangement, the bill is sent directly to the mortgage company and you are sent a courtesy copy in mid-November.  At Khani & Auerbach, we recommend that you follow-up with your lender to ensure receipt, and ultimately the payment, of the tax bill.

Property taxes must be paid no later than March 31, 2019 to avoid delinquency interest, fees, and penalties, but to enjoy the greatest benefit of the early-payment discounts, the taxes may be paid as early as November 1, 2018. Khani & Auerbach ALWAYS recommends you take advantage of the early-payment discounts.  The discounts for payments made in full are as follows: a 4-percent discount if paid in November; a 3-percent discount applies in December; a 2-percent discount in January; and a 1-percent discount in February. The discounted amounts that apply to each month between November and February are already reflected on property tax bill coupons. These discounts apply only to full tax payments. Making a partial payment of property taxes forfeits any applicable discount otherwise available for full tax payments.

 

2018 tax payments can be made by the following methods:

Credit/Debit Card, or eCheck Online Payments: at https://broward.county-taxes.com – use the search function to locate the correct tax account then follow instructions for payment by credit/debit card or eCheck. There is a non-refundable 2.55% convenience fee for credit/debit card payments. eCheck payments have no additional fee.

By Mailing a Check: use the green return-envelope enclosed with the tax bill or mail payment to Broward County Tax Collector, Processing Center, P.O. Box 849375, Hollywood, FL 33084-9375. Always include the tax coupon with the check and write the tax account on the check to prevent processing delays. All check payments must be in US funds issued from a US bank account. The payment envelope’s postmark date is used to determine the applicable early-payment discount. If check payments are rejected or returned by your bank, the payment will be canceled, a return check fee will be charged, and discount deadlines will not be extended for substitute payments.

At any Wells Fargo Bank Branch located in Broward County: all 2018 tax bills (no delinquent tax payments) may be paid at any Wells Fargo Bank Branch in Broward County until March 31, 2019. Tax payments made at Wells Fargo must be paid in full only (no partial payments). Taxpayers must have their original 2018 tax bill to present to the bank at time of the payment. No credit, debit, or cash payments can be accepted by the banks for tax payment.

Partial Payments: 2018 taxes may be paid in up to five partial payments. Partial payments must be for a minimum of $100 and include a $10 processing fee. Partial payments forfeit all early-payment tax discounts that would otherwise apply to full payments. The final partial payment must be for the full remaining balance and paid by March 31, 2019 to avoid delinquency interest and fees on any remaining balance as of April 1, 2019. Partial payments cannot be made online or at Wells Fargo banks.

For additional information, please contact the Broward County Tax Collector’s Office at (954)831-4000 or visit www.broward.org/RecordsTaxesTreasury/

At Khani & Auerbach, we are dedicated to providing as much information to assist you with your real estate needs. Please be sure to follow us on Facebook, Twitter, Instagram, LinkedIn and Google+ for additional useful information.

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

Posted on by khaniauerbach

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!