Property Appraisers in Florida will send out Truth in Millage (TRIM) notices to all property owners at some point in the next two weeks.  These TRIM notices will show the property tax assessments and market values for 2015, as well as estimated property taxes for this year.  Property owners have just 25 days from the mailing of the TRIM notice to review the valuation and challenge the assessment or market value on the property.

We advise all property owners – clients and others – to carefully review their TRIM notices as soon as they are received.  With the recovering real estate market, County Property Appraisers are expected to increase assessments across the board.  Further, we recommend that all property owners pay attention to both your assessed values and market values.  Assessed values can only increase 10% for non-homestead properties (3% for homesteaded properties), but there is no such limitation on the increase in market values for the Property Appraiser.