Anyone who owns commercial or residential property in the state of Florida has to pay some sort of Florida property tax. The amount you pay is determined in two ways. First, it is determined by the assessor in your county, and the amount they determine is then multiplied by the local tax rate. The amount of the assessment is reached by the assessor's office using a long list of variables and facts. For the most part, commercial and residential properties are valuated based on things like the square footage, the amount of land, the general conditions and even similar properties in the area and their values (usually called "comps" or comparison properties).
One thing many don't realize is that the assessor, in determining the Florida property tax on any residential or commercial piece, does not have to actually step foot on the premises or see it in person. They have the right to use the available data to reach their conclusions, and a great many assessors in all parts of the country do just that. It is why they also have the appeal process.
Unlike some states, though, the Florida property tax appeal process is a great deal more rigid. For example, in most parts of Georgia, you have around 30 to 45 days from the date you get your assessment letter to appeal the amount. In Florida, it is 25 days from the date of the letter. This means you'll need to work fast if you feel your Florida property tax is unfair and you wish for a full review.
Keep in mind that the assessors in almost all parts of the country are maxed out and work very hard. They do not under or over value properties on purpose or with malicious intent. So, if you are unhappy with the information you receive, never feel that the assessor's office is doing this intentionally. They are glad to review your case, but you do have to present them first with word that you intend to do so, and then give them all of the evidence you feel should reduce (or increase) the Florida property tax on your property.
What It Requires to Change Your Florida Property Tax
The way things work is simple. You will get the new assessment, and you must let them know you are going to file that appeal within that 25 day window of time. It is a very good idea to ask them for the worksheet they used to valuate the property. Why? Human error and typographical mistakes can easily lead to an inaccurate assessment. For example, the commercial building you own in Florida has 2,250 square feet, but someone inadvertently typed 22,500. That is a substantial difference, and though it is a typographical mistake, you'll want to have all of the documentation possible to prove it.
So, first get the worksheet and check it for errors. If you find there are not any errors, then you have to consider the factors that you can use to explain how the tax assessor's determination is wrong. For that, you'll need to gather together items like survey maps, architectural plans, and even an official appraisal. If there are major problems with the building, it is a good idea to have a contractor's report showing the extent and cost of the work that is needing to be done (and estimated costs).
Then, you can become a sort of Florida property tax sleuth and start looking at recent sales and nearby properties that are similar to your own. What are the Florida property tax assessments on them? Are they higher or lower than yours? What you want to do is find at least five that are showing lower taxable values than your own. As they are similar to yours, then it may be possible to get your valuation reduced to match those "comps".
By now, you may have read this and said or thought, "I really don't have time to do this!" However, according to the financial experts at Money Crashers, "26% of the time people were successful in their appeals, receiving an average reduction of 13% in their [property] values and an average savings of 19% on their property tax bills."
Just consider - if your Florida property tax bill is $6,000 annually, that would mean $1,140 in a single tax year. Over the three years, or so, between evaluations of the property, it would translate to over $3,000 in your bank account! Of course, you need to compare that to the amount of an appraisal, but as most come in at less than $1,000, it should not be a problem.
Can You Get Help Fighting Your Florida Property Tax Assessment?
The good news is that you don't have to do this alone. In fact, you shouldn't. Many say that appealing your Florida property tax bill without expert help is like going to court without a lawyer. To make sure you get the best outcome, consider working with Fair Assessments, LLC. They are experts in GA and FL commercial property valuations, and have more than 20 years of experience in real estate valuation and tax reduction work. They can provide you with the support and work you need whether you are dealing with an assessment that is too high or one that is too low (and dragging down the sale price of the property). They also handle residential tax assessment appeals in the Atlanta metro area, as well.
It makes sense to appeal a tax valuation that you disagree with, and many think of it as a free shot at saving money. It does take a bit of time and some financial commitment, but the rewards can be quite amazing. Don't wait for days or weeks to make that appeal. Act on it when the letter arrives. Contact them today and be sure you get the ball rolling for a better commercial or residential property valuation.
