Annual TRIM (Truth in Millage) Notices are mailed throughout Florida every August. The deadline for filing an appeal is in this Notice. The deadline cannot be extended, and postmarks do NOT count!
Every taxpayer has the right to appeal market value as indicated on the TRIM. IF market value is reduced below assessed value, taxes will be lower.
IMPORTANT POINT – caps on assessments do NOT lower taxes – in fact the opposite usually is true. Timing is critical. Higher assessed values are the basis for lower tax rates. So, in order to achieve lower tax payments, AFTER budgets are set, successful appeals of specific assessments result in lower actual bills. You must understand and follow the timing sequence to achieve maximum benefits!
Timing also relates to values. Assessments are based upon what a property is worth if offered to the market on January 1st. In other words, assessments are retroactive. The data used to establish market value for property taxes typically is found in the prior calendar year.