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Tuesday, June 28, 2016

If you live in Miami-Dade or Broward, keep an eye out for your TRIM notice.  It can be very misleading


Property owners need to carefully read the County's TRIM notice which arrives before the tax bill, and make sure they timely appeal their Property Taxes with their 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:  
"DO NOT PAY THIS IS NOT A BILL"  THE FACT THAT IF YOU DO NOT APPEAL NOW, YOU FOREFIT YOUR RIGHT TO APPEAL THE BILL.

While the bold letters at the top of the page with state "DO NOT PAY THIS IS NOT A BILL," if you wait for the bill to arrive, you will have missed your window.  The TRIM notice is to inform you of the potential rates, it is up to you to request the appeal if you disagree with the amounts before you receive the bill.    



WARNING NUMBER 2:  
FAILURE TO TIMELY PAY YOUR TAXES WILL CANCEL YOUR TAX APPEAL                                                                                             


Make sure to pay your property taxes before the deadline date, typically 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.   





WARNING NUMBER 3:
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

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