Quote:
Originally Posted by RiderOnTheStorm
Help!!!
My wife and I recently bought into TV in late-2021 and are in the process of becoming Florida citizens. However, because we did not have time to apply for Homestead protection late last year, the assessed valuation of our home was increased by 34%, rather than the 3% cap provided by Homestead protection. The Tax Assessor seemed to take advantage of this brief lack of coverage in late-2021 to sock it to us.
Is anyone aware of any options we might have to contest this huge increase?
Thanks in advance for your thoughts.
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We closed on a pre owned home 6/14/22 and see the same adjustment to our TRIM which is to say a big jump (60% in assessed value). Our seller’s benefited their first tax year (‘21) from the original owner’s lower assessment and homestead exemption. For ‘22 it’s our seller’s purchase price and no homestead exemption - I’m assuming they didn’t apply as they closed 03-‘21. We are seeing the jump too as our closing assumed current taxes, so not surprised but the magnitude is pretty steep. We should have homestead in place for ‘23 but we paid more as well so are expecting our market value to increase also.