TRIM Summer Blues
The lazy, hazy days of summer bring more than heat and humidity. You can also expect to receive your TRIM notice. A TRIM notice, which stands for a “Truth in Millage” notice, is an estimate of your property taxes based on proposed tax rates (county, municipal and other taxing districts), property value and exemptions.
A TRIM notice provides:
· A description of the property by key number, parcel number and abbreviated parcel description.
· Lists of the taxing authorities which levy taxes on your property.
· Lists non-ad valorem assessments.
· A comparison of last years taxes, proposed taxes if the taxing authorities budget is approved and proposed taxes if no budget change is made.
· A schedule of taxing authorities meeting times and places (and taxing authorities phone numbers).
· A comparison of last year and current years’ market values, assessed value, exemptions and taxable value.
· A deadline in which to file a formal appeal with the Value Adjustment Board if you disagree with the estimated market value. This deadline is established by Florida Statute based on the date of mailing of the TRIM Notice and is near the bottom of the notice.
Owners should check their TRIM notices very carefully examining it for errors in either content or calculation. For example, is the value of your home properly and accurately valued? January 1 is the valuation date in Florida (based on sales market data for the preceding calendar year). Is your home accurately described in terms of age and size? Are all of your eligible exemptions listed? Was your home affected by Chinese drywall, thereby affecting its value?
You might consider filing a protest if you find an error or omission. If you are correct, your estimate may decrease, resulting in a possible reduction in your property taxes, which means more money in your pocket. For more information on how the Jay Steven Levine Law Group can assist you, please call or e-mail us.
About the Jay Steven Levine Law Group
The Jay Steven Levine Law Group specializes in Florida community association law and Florida commercial litigation. The lawyers at the Jay Steven Levine Law Group have over a combined fifty years of legal experience, maintaining offices in Boca Raton and Palm Beach Gardens, and by appointment in the Treasure Coast.
For more information about the Jay Steven Levine Law Group, please email jsl@jsllawgroup.com. Additional information may be found at: http://www.jsllawgroup.com
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