Rosen Tax Appeal Blog

Miami-Dade County's Value Adjustment Board began hearing tax cases in December.   Since there is a reported 70,000 appeals that were filed in August and September 2008, the hearings will be scheduled well into 2009.  A solution to lowering the cost of owning a home or condominium is the appeal of real property taxes.

South Florida needs tax reductions, as the values of properties have been substantially lower than at the height of the real estate market in 2005-2006. Since the date of value for tax appeals is January 1st of the current tax year, the comparables used are from the prior year. For instance, in asking for a reduction in 2008, one must present data from 2007 in making the argument.

Therefore, in 2008 and 2009, “tax agents” have the use of many comparable sales that are generally lower than in years past, and tax agents will have the use of this data in their appeals.  Appraiser Pedro Garcia acknowledged this in the public forums leading up the vote for the Miami-Dade Property Appraiser. Mr. Garcia is a long time Realtor and real estate appraiser with 32 years of experience, and he is an appointed magistrate on the Miami-Dade County Value Adjustment Board (VAB).

A $10,000 tax bill adds $833.33 per month to a mortgage.  As the lender typically escrows the taxes and adds it to the overall monthly mortgage payment.  This reduces the purchase price a buyer would be willing to pay for a home or condominium. If one reduces their tax bill, it would help homeowners keep their houses and lower taxes allow prospective purchasers to acquire homes that are more expensive. High property taxes not only discourage development, but they also discourage new developments.