“Ask Lori…Parrish on Appraisal”
Broward County Property Appraiser Lori Parrish Answers Your Questions…
“Good News Taxable Value Increases 7.24% for Broward!”
I read in the Sun-Sentinel your office just released a better than expected taxable value increase? What does this mean for Broward County residents?
J.F., Wilton Manors, FL (via email)
On June 24, 2014, our office released the July 2014 Taxable Value Report. This is the third consecutive year property tax values have risen in Broward after four years of declines during the historic real estate collapse. These numbers resulted in a total countywide taxable value increase of 7.24%, and a total taxable value of $141 billion. The 7.24% increase does not apply to every municipality within the county (please keep in mind the 7.24% increase represents the sum total of all taxable value in Broward County). Some areas, such as Coconut Creek, Hallandale Beach, Hollywood, Lazy Lakes, North Lauderdale, Tamarac, and Wilton Manors, saw a taxable value increase greater than 7.24%, while Lauderdale Lakes, Pembroke Park, Dania Beach, and Sea Ranch Lakes saw an increase of less than 7.24%. To see a breakdown by taxing authority (County, Municipal, District, etc.), go to our website,www.bcpa.net, click on “Site Index” on the left side of the homepage, then click “2014 Tax Roll Information,”and finally“2014 July 1st Taxable Value Report.”
The numbers released on June 24th are the final numbers which will be submitted to the Florida Department of Revenue for certification. We endeavor to produce the most accurate tax roll possible through the use of random audits and appraisal reviews.
You can review your property’s 2014 market and assessed values on our webpage at www.bcpa.net. In August, all Broward property owners will receive their 2014 “TRIM” Notices, or proposed property tax notice, notifying them of their 2014 property tax assessment information, exemptions, proposed tax amounts and proposed tax rates. These notices also inform property owners of their rights to both challenge their property assessment and to speak out at various taxing authority hearings
Please keep in mind the 2014 property assessments reflect the values as of January 1, 2014. Florida law requires our property assessments be based a year in arrears, meaning the 2014 property assessments are based upon the qualified sales from January 2, 2013 thru January 1, 2014. Any sales which occur in the 2014 calendar year will be reflected in the 2015 property assessments.
Lori Parrish, CFA