TRIM DOWN

Check it out – your property taxes probably went down. State residents will soon receive their “truth in millage” statements, or TRIM, that give property owners information on next year’s property taxes. But this year, almost 94 percent of Floridians will see some savings thanks to a new law passed during July’s special session of the Florida Legislature. For many, it’s not the savings generating the excitement, it’s what they don’t see – an increase. Counties in which property taxes rose the most over the past few years will see the greatest reduction of 9 percent. Manatee resident Kimberly Mills, for example, discovered that her taxes fell by more than $200. “I was pleased. … I’ll take anything,” says Mills. “We’d seen such a jump in the past. I want to see more in the future, but something’s better than nothing.” TRIM notices can be detailed and hard to decipher, however. To calculate your personal savings, compare two columns. “Your Property Taxes Last Year” tells you how much you currently pay; “Your Taxes if PROPOSED Budget Change is Made” tells you how much the city or county plans to charge next year. Just subtract the former from the latter. “Until this year, you never saw any cases where the proposed rates were less than the rollback. Normally, they are much higher,” says Dale Friedley, a tax analyst with the Manatee County Property Appraiser’s office.

Source: The Bradenton Herald, Aug. 16, 2007, Nicholas Azzara
© 2007 FLORIDA ASSOCIATION OF REALTORS®

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