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Tuesday, November 13, 2012

Miami-Dade County 2012 Property Tax Bill Is Misleading

THE 2012 MIAMI-DADE COUNTY REAL ESTATE PROPERTY TAXES ARE MISLEADING

Property owners that appealed their 2012 property taxes need to carefully read the County's tax bill, and make sure to calculate the correct amount of property tax to send to the Miami-Dade County Tax Collector.

The Property Tax Appeal Group, LLC ("P-TAG") wants to make sure that all owners of Miami-Dade County property are aware of the following warnings...



WARNING NUMBER 1:  
FAILURE TO TIMELY PAY YOUR TAXES WILL CANCEL YOUR TAX APPEAL


Make sure to pay your property taxes before the end of March.  Regardless of whether you are in the process of appealing your property taxes, your failure to timely pay before the end of March will require the County to automatically deny your property tax petition, and the County will also charge interest on the late payment.   

More specifically, Florida Statutes Section 194.014 provides the following in part:
194.014 Partial payment of ad valorem taxes; proceedings before value adjustment board.
(1)(a) A petitioner before the value adjustment board who challenges the assessed value of property must pay all of the non-ad valorem assessments and make a partial payment of at least 75 percent of the ad valorem taxes, less the applicable discount under s. 197.162, before the taxes become delinquent pursuant to s. 197.333.

(2)(c) The value adjustment board must deny the petition by written decision by April 20 if the petitioner fails to make the payment required by this subsection. The clerk, upon issuance of the decision, shall, on a form provided by the Department of Revenue, notify by first-class mail each taxpayer, the property appraiser, and the department of the decision of the board.




WARNING NUMBER 2:
PAY 100% OF YOUR PROPERTY TAXES...NOT 75% LISTED BY MIAMI-DADE COUNTY



THE PROBLEM:
If you appealed your property taxes in Miami-Dade County, and pay your property taxes directly to the County (in contrast to your bank or mortgage company paying on your behalf), Miami-Dade County's Property Tax Bill provides the following misleading information:

Must pay 75% of Ad Valorem Taxes and 100% of Non-Ad Valorem Assessments

or Good Faith payment by March 31, 2013


THE LAW:
  • If you underpaid property taxes...you owe 12% interest to the County
  • If you overpaid property taxes...the County owes 12% interest to you

IF YOU ONLY PAY 75% OF YOUR PROPERTY TAXES:
If property owners follow Miami-Dade County's advice, and only pay 75% of their property taxes...
  • IF YOU LOSE YOUR TAX APPEAL, you will owe the County 12% interest on the unpaid 25% of your property taxes
  • IF YOU WIN YOUR TAX APPEAL, but the value of your property is reduced less than 25%, you will still owe the County 12% interest on the unpaid balance of property taxes owed 





PTAG'S ADVICE: PAY 100% OF YOUR PROPERTY TAXES...LESS THE 4% DISCOUNT IF PAID IN NOVEMBER



IF YOU PAY 100% OF YOUR PROPERTY TAXES:
If property owners follow the Property Tax Appeal Group's advice, and pays 100% of their property taxes...
  • IF YOU LOSE YOUR TAX APPEAL, no 12% interest is owed
  • IF YOU WIN YOUR TAX APPEAL, the County will refund you the difference in overpaid property taxes, and THE COUNTY WILL OWE YOU 12% INTEREST on the overpaid balance of property taxes

If you still have any questions or concerns regarding the above, 
please contact us at the Property Tax Appeal Group:
Phone: 305.693.3500
Email: info@PTAGflorida.com