Seth D. Lubin, P.A. Blog

Broward County Taxable Property Value Report - Property Values (7/1/10)

Fri, 2 Jul 2010 12:30:23 -0400

On July, 1, 2010, Broward County released its preliminary Taxable Value report for the 2010 tax year. The news is not good. Property values in Broward County plunged 11.7 percent last year — the third yearly drop in a row — marking one of the worst declines in history.

As a result, residents face tax increases and service cuts as local leaders confront budget deficits.

Some of the hardest hit cities in Broward County include:

Lauderdale Lakes - down 20.8%
Lauderhill - down 20.7%
Margate - down 18.8%
North Lauderdale - down 24.3%

Of local interest, Weston was down 10.1%, Southwest Ranches was down 5.6%, Parkland was down 7.3% and Davie was down 8.1%.

Foreclosures are among factors driving property values downward. Last year Broward logged 14,264 foreclosures. So far this year, there have been 7,766. Thousands more foreclosure cases are piling up at Broward Circuit Court.

The tax roll reflects property values as of Jan. 1, 2010, based on last year's sales and activity.

Miami-Dade County Valuation Certification - Property Values (7/1/10)

Fri, 2 Jul 2010 12:22:33 -0400

On July, 1, 2010, Miami-Dade County released its preliminary Certification of Value for the 2010 tax year. The news is not good. Miami-Dade Property Appraiser Pedro Garcia announced Thursday that property values countywide are down $29 Billion from the past year. "I believe it's going to be the worse year that we'll ever have," he said.

Countywide, property values are down 13.4 percent.

Some of the most significant lowered values include the following cities:
• City of Miami -15%
• Florida City -23.5%
• North Bay Village -26.4%
• Homestead -31.2%

Property Tax Oversight Bulletin: PTO 09-29

Tue, 29 Dec 2009 10:53:49 -0500

The Florida Department of Revenue recently issued Property Tax Oversight Bulletin 09-29, which clarifies the order of presentation of evidence and other procedural issues that have arisen in the 2009 Value Adjustment Board hearings. Among other things, the bulletin explains that:
• The first issue to be considered at the VAB hearing is whether the Property Appraiser’s assessment will be presumed correct.
• In determining whether the Property Appraiser’s assessment is presumed correct, the Property Appraiser should be required to present their evidence first.
• Evidence regarding the general appraisal practices of the Property Appraiser’s office or approval of the tax roll by the Department of Revenue is insufficient to establish the presumption. The Property Appraiser must explain how those practices were applied to the specific property at issue.
• If the Property Appraiser does not present evidence on this issue, or if the presumption is otherwise lost, the VAB may establish the value or remand to the Property Appraiser for a reassessment.
• Regardless of whether the Property Appraiser retains the presumption of correctness, the taxpayer still has the right to a determination of the appropriateness of the Property Appraiser’s appraisal methodology.

Property Tax News - Miami-Dade County, FL

Mon, 22 Jun 2009 16:50:38 -0400

Faced with a budget deficit of $350,000,000 to $400,000,000, the Mayor of Miami-Dade County has already stated that it is inevitable that the tax rate in Miami-Dade County will be increased. Bu the bad news does end there; many of the municipalities within Miami-Dade County are also facing major deficits and may have no choice but to raise their respective tax rates as well. Those municipal tax rates, added onto the county tax rates, can have a major impact on your 2009 tax bill. Seth Lubin, Esq. discusses the latest Property Tax news in Miami-Dade County, FL

Property Tax News - Broward County, FL

Mon, 22 Jun 2009 16:22:31 -0400

Good News and Bad News - The good news is that the Broward County Commissioners have “pledged” not to raise the tax rate at a recent budget workshop. The bad news, many of the municipalities within Broward County are going to raise their tax rate. How will this affect you? Are you in one of those municipalities? Seth Lubin, Esq., a partner in the firm Lubin & Lockwood, P.A., discusses the latest Property Tax news in Broward County, FL.

What to Expect at a Value Adjustment Board Hearing?

Mon, 22 Jun 2009 09:55:17 -0400

For many homeowners, the world of appealing property taxes can be very confusing. Seth Lubin, Esq., discusses one of the aspects of appealing your property taxes - What to expect at a Value Adjustment Board hearing.

What is the Value Adjustment Board

Mon, 22 Jun 2009 09:37:19 -0400

We hear the term - Value Adjustment Board - a lot. But what exactly is the Value Adjustment Board? Who are they and what role do they play in determining your proper property tax valuation on your home or business. Seth Lubin, Esq., discusses the topic, “What is the Value Adjustment Board”.

How to Appeal Your Property Tax Assessment

Mon, 22 Jun 2009 09:32:45 -0400

Appealing your property tax assessment may seem easy, but there are many pitfalls that await the uneducated homeowner. Seth Lubin, Esq., discusses “how to Appeal Your Property Tax Assessment.”