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Wednesday, July 19, 2017

Miami-Dade has approved a flat property-tax rate increase for 2018

http://www.miamidade.gov/transit/images/rail-BIG.jpg

Property Values are going up, condos are going up (adding to the tax base), and people are upgrading their homes.  Regardless of this, Miami-Dade still faces shortfalls in sales tax projections and a decline in hotel-tax revenues.

The County is facing cuts in transit and has no way to pay for a major expansion of the counties Metrorail.  While property taxes will bring in $1.7 billion, the County budget is $7.4 billion.

Miami-Dade is also having to contend with the new homeowner tax deductions that will most likely be voted in shortly.  This will increase the homestead exemption from $50,000 to $75,000 of the first $100,000 of the home's taxable value.  One could assume that the County is trying to boost the tax on the property taxes now to get ahead of the future reduction.

The new flat property-tax is not a significant number but is still an increase.  Budget chief Jennifer Moon has stated that a property valued at $200,000 would see an increase of $4.00 extra a year.

All properties are taxed at $467 for every $100,000 of taxable value (based on your homesteaded value, not market value).  Bond referendums taxes at $40 for every $100,000 of value.  Municipal services (outside of city limits $193 per $100,000, library $28 per $100,000, and fire $243 per $100,000.

The County is promising increased service and improvements for public transportation but do not know how to pay for it.

Your TRIM notice will be arriving next month.  Please remember that the top may say THIS IS NOT A BILL, the bottom say if you do not appeal now, you forfeit your right to appeal when you receive your bill.  Click here to view a estimated calendar of important dates.  If you suspect that your home or investment property has been improperly assessed or want us to give you our opinion, please contact us at www.PTAGflorida.com or call (305) 693-3500.

Click here to read the full Miami Herald story

Friday, June 23, 2017

U.S. Supreme Court Rules Against Property Rights Advocates

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Justice Kennedy

In the case of Murr v. Wisconsin, zoning changes made by the state devalued property so the owners claimed it should be deemed a "regulatory taking."  In the end, the U.S. Supreme Court disagreed.

Over 50 years ago the Murr family purchased the property with the intention of passing down to their children.  The children had decided to sell of one of the parcels but were told that the single lot was no longer able to be developed alone.

The family claimed this was in violation of the Fifth Amendment.  The Wisconsin Court of Appeals found 5-3 that the family was not harmed when the properties were viewed together.

Much of the case focused on the "property as a whole." With this view Justice Kennedy found "the state court was correct to conclude that petitioners cannot establish a compensate taking  They have not suffered a taking...as they have not been deprived of all economically beneficial use of their property."

The question is will this lead to new zoning laws that would put hardships on owners. It could force them to sell their property.

For more information on this topic please refer to the article in the Daily Business Review
For assistance in your property tax appeal we can be found at www.PTAGflorida.com

Thursday, June 22, 2017

Helping to protect property owners and Florida as a whole.

As members of the Miami Association of Realtors, we are honored to have one of our principals Brian Sharpe, serving on their board.  As the Commercial President Elect, Mr. Sharpe has been traveling with the Association to places such as Tallahassee, FL and Washington D.C.  While there he (along with other members) have been advocating for their members, owners and renters, and the environment.

Some of the big win items this year involve the property tax cap, a cap on estoppel certificates, housing projects, environmental protection/repair, and a reduction in the business rent tax.


Passed joint resolution to preserve the 10% Cap on Non-Homestead Property Taxes and protect owners from a $725 million tax increase.


Passed SB 398 Which caps estoppel certificate fees and provides other important reforms.


$270 Million for affordable housing, the highest amount of funding in a decade.


Saved business owners $61 Million with a first-ever cut to the business rent tax.


$440 Million for Everglades restoration, beach re-nourishment and springs restoration.

For more information on these wins, please check out  MiamiRealtors.com or FloridaRealtors.com 
For assistance in appealing your property taxes: www.PTAGflorida.com
For a link to a video recap of the wins.: https://youtu.be/oOwszdOxRw4

Monday, February 13, 2017

Broker’s View space in Business Monday of the Miami Herald by Barry Sharpe

Barry Sharpe of Property Tax Appeal Group, pTag, had the opportunity to write a story for today's Business Monday.  
Barry Sharpe

The story tells home owners how they can help themselves in obtaining thousands of dollars in property tax refunds.   

If you are considering selling your property, consulting with a Realtor would be a great idea.  They would be able to help you determine the market value of your home.  You would better know what buyers would be looking for and what could scare them away.  

Please read the full story on the Miami Herald website.



If you are looking for assistance with a property tax appeal, please contact us at www.PTAGflorida.com  

Read more here: http://www.miamiherald.com/real-estate/article132066369.html#storylink=cpy