Hello, Mr. Chin. You probably received your Tax Bill and noticed a drop in the assessed value and the amount of taxes due. If this is not the case, there is a way to fight it. With the deadline already passed, it may be a little more difficult. Obviously, try anyway. If they give you a hard time, armed with market data you may be able to demonstrate a basis for a lower assessment and tax. You may need to hire the assistance of an attorney or property tax expert. Be careful to NOT pay fees ahead of time or that the fees are minimal. Shop around and all the best.

Herman,

Mott did answer your question.

I just want to say that we still don't know how the foreclosed and short saled properties will play in assessing the value.

The county is saying so far that they don't want to take into acount the prices of foreclosed and short sale properties. Then in some markets that's the only real gauge of where we are in term of prices.

And I am pretty sure that when we'll get the new assessments people will rush to court to get their property taxes lowered.

We will see how it will play.

Thanks. Best regards.

Your taxes are easily verified via the Miami-Dade County Appraisers Office. Typically taxes are about 1.75% od ASSESSED value. Market values are being adjusted- but a rough estimate would be right around 6K per year.

Mott Marvin Kornicki, Broker-Associate
Real Estate In Miami