You Can Get 12% Interest If You Appeal Your Property Taxes In FloridaCall your local banker and see if you can convince them to pay you 12% interest. No luck??? Well you may still be able to get 12% interest paid by your Florida government.
Newly enacted Florida Statutes Section 194.014(2) states the following in part:
(2) ... If the value adjustment board determines that a refund is due, the overpaid amount accrues interest at the rate of 12 percent per year from the date the taxes became delinquent pursuant to s. 197.333 until a refund is paid. Interest does not accrue on amounts paid in excess of 100 percent of the current taxes due as provided on the tax notice issued pursuant to s. 197.322.Now more than ever, it can really pay to appeal your real estate property taxes.
In the past, the government charged you interest if you didn't pay your property taxes, but they never paid you interest if you appealed your property taxes and got them reduced. Now, Florida Statutes Section 194.014 levels the playing field by allowing property owners to obtain 12% interest on any over-payment.
There is no way of proving you overpaid your taxes UNLESS you appeal your taxes!
Filing a petition to appeal your property taxes before the September 19, 2011 Deadline Date is the only way to give yourself a chance to show why you overpaid on your taxes.