Below is an article from the Miami Herald. This is good for the Citizens of Coral Gables but does it mean your taxes will be lower? Well, that remains to be seen.
The ultimate dollar amount you pay consists of two parts. The tax rate and the "Millage rate." The tax rate is released first, this portion you have the right to appeal with a Property Tax Appeal. The Milliage you can not appeal.Millage is a term widely used by the Miami Dade tax collector. A "Mill," the route of the word, represents one thousandth of a dollar. "Millage Rates" refer to tax rates based on mills per dollar per the value of the property. Published millage rates always indicate the tax rate for the previous year and can be used to estimate future tax payments, but never to definitely predict them in the future. Tax rates can change significantly year over year depending on exemptions that have been removed or a change in the market value of the home.
The Millage allows the gap to be filled. Think of it as an online auction. Your tax rate is the sale price, your Millage rate is the shipping and handling. The auction may have ended at $52.00 but you get your final bill of $69.00.
The Millage is released AFTER your right to appeal your taxes expires. Remember, you have to submit your appeal or you can not be heard.
Keep in mind as well, you may feel your property is properly assessed but keep in mind the property 3 blocks away, that you feel would be worth more, could actually be 20% less. Contact us to look at your property. You have nothing to loose and a lot to gain.
Contact us at www.PTAGflorida.com