I opened the letter with much trepidation. Anytime I see a letter from Lori Parrish, Broward County Property Appraiser and it has written next to my address Official Notice of Taxes; my heart just skips a beat.
The envelope had exactly what I thought would be in it: The Proposed 2008 Property Taxes.
My feelings are a little mixed. My taxes are down by $690.25, however, my property value has dropped $21,080, bringing it in $10,000 below what I paid for it.
Like I said, it was a mixed reaction.
On the confusing side, was that I only had $25,000 deduction for my homestead. Now I know we voted on an amendment and it passed in January whereby the exemption would double, so I looked in the accompanying brochure. Under the heading "... But Where is My $50,000 Exemption?" was written:
The constitutional amendment which doubled the Homestead Exemption to $50,000 is rather complex. By law it ONLY applies to the third $25,000 of assessed value (i.e., the portion of assessed value above $50,000 and below $75,000). If a homesteaded property has a Save Our Home assessment of less than $50,000, it will not get any added benefit this year from the new exemption. Likewise, a homesteaded property with an assessment of $60,000 will enjoy only $10,000 additional exemption -- as it is the only portion over $50,000.
Okay, I'll buy that.
But my house is assessed at over $240,000! Why am I not getting the additional $25,000 deduction?
Anyone out there have an answer?
2 comments:
I don't know. I got my $50,000 deduction for my condo. I'll save about $300 in taxes. Market value also went down, from $181,260 to $172,200. -j in nomi
Thank you for your comment.
Guess I'll have to call Ms Parrish tomorrow!
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