Law Office of Ryan S. Shipp, PLLC

How to lower tax assessment values

Florida residents may not agree with the tax assessment that was just done on their homes. However, a homeowner is allowed to contest the assessment in hopes of reducing their property tax bill. This may be done by arguing that their home is worth less because of a pest infestation or because of some other factor that should bring its assessed value down.

In many cases, the value of a home is determined by recent comparable home sales. This public information is relatively easy for a homeowner to access and analyze prior to an assessment challenge. However, it should be noted that there are many factors that may influence the price of a home when it is sold. Therefore, it may be difficult to objectively argue that a specific property should be worth a certain amount based on recent sale prices alone.

Those who feel as if they cannot afford a property tax hike may not be able to use that as a defense. The tax rate is based on nothing more than what a home is worth, and the value of a home is based on the characteristics of the home only. If a hardship arises because of increased property taxes, a homeowner may need to apply for a tax deferral if one is available.

Anyone who owns residential real estate will be assessed property taxes based on the value of that property. Those who disagree with the assessment may wish to take the matter all the way to court. Legal counsel may be able to review the facts used to determine a home's value for tax purposes. In court or at any other time throughout the assessment challenge process, an attorney may cast doubt upon those facts to obtain a favorable outcome for a homeowner.

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Law Office of Ryan S. Shipp, PLLC | 814 W. Lantana Rd., Suite 1 | Lantana, Florida 33462 | Phone: (561) 699-0399 | Map & Directions