What Is The Assessment Of Our House in our great state According to the Tax assessors office?

Above one half of the property transactions which are happening in the state of Florida today, as of October 27, 2009, are either short sales, foreclosed properties or bank owned houses. Therefore, the tax collector/assessor has taken the attitude that the closings of those properties do not meet the requirements for determination for appraisal purposes in assessing taxes. In other words, a home that might have been worth One Million dollars and assessed at that rate three years ago, which has consequently sold at $300,000.00 possibly will still be assessed at the million dollar rate. According to the tax appraiser houses which are purchased by third parties without any collusion or any connection to the seller which fall into those categories do not meet the criteria for reconsideration of the taxable value. I know the state of Florida and our counties are urgently in need of cash. However, is it fair for the property owners to be assessed taxes on property which is worth 30% to 40% less than the actual value? Please if anyone has any comments or questions, speak out.

Since the tax assessor/collector is disinclined to consider closings of houses which are bank owned or foreclosed in order to re-evaluate the value for tax, this possibly might be one added reason why tax payers might wish to consider selling the estate to third party buyers for the value they are able to obtain at current market rate rather than to allow those issues to transpire. In other words, it may be an added motivation to do a private sale that would allow the new buyer to get a new assessed value and could be a potential bargaining chip. Please give this important thought.

Gregory P. Farrar, Esquire
Farrar Law Firm
Barrister Title Company
http://www.farrarlawfirm.com

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Gregory P. Farrar is the principal attorney and founder of the Farrar Law Firm. For over 25 years, Mr. Farrar has achieved optimum results for his clients. Get your Pensacola Home Value

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