Tax Alert
Florida Real and Personal Property Tax Notices on the Way
(Aug. 26, 2010)
Florida taxpayers will soon receive their notices of value, known as TRIM (Truth in Mileage) Notices, which will reflect proposed 2010 property taxes for both real and personal property. Although the assessed value may be the same as, or even less than, that of the previous year, the property might be overassessed and therefore the notice might not reflect the property’s true market value.
There is a short window of opportunity to protest the valuation of the property. An appeal must be filed within 25 days of the date of the notice. Typically, this time period is between September 1 and September 30. Any reduction in assessed value will result in a reduction of property taxes that will be due from November 2010 through March 2011.
For more information on how this might affect you, please contact Scott Tyler at 813.209.2455 or scott.tyler@crowehorwath.com, Jennifer Vigliano at 954.202.8561 or jennifer.vigliano@crowehorwath.com, Joe Calvanico at 630.574.1615 or joseph.calvanico@crowehorwath.com, or any Crowe Horwath LLP tax professional.
Under U.S. Treasury rules issued in 2005, we must inform you that any advice in this communication to you was not intended or written to be used, and cannot be used, to avoid any government penalties that may be imposed on a taxpayer.