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Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
great point clintclint. There is a chance that the assessed value to increase in the protest, but given the current market, I doubt it, unless you were originally under-assessed.

BTW, brandon12, property taxes are paid in arrears, so it doesn't matter that you purchased prior to Jan 1, 2009. TooFarTampa has given you some good info.
 

ClintClint

Beach Fanatic
Jul 2, 2008
599
78
great point clintclint. There is a chance that the assessed value to increase in the protest, but given the current market, I doubt it, unless you were originally under-assessed.

BTW, brandon12, property taxes are paid in arrears, so it doesn't matter that you purchased prior to Jan 1, 2009. TooFarTampa has given you some good info.

Again I can only speak for Ga., but these appeals are sworn statements by the property owners. If you are an a$$ to the County office and make a misstatement on that appeal, you are very vulnerable to potential retribution. If your sale was not an arms length transaction at fair market value, then be careful.
On the other hand, if the County is not forthcoming, file a freedom of information request--- but you better have all you i's dotted and t's crossed in your financial dealings.
The homeowner's watchdog is the Audit division for property taxes at the State level. Every county has it's assessed values audited to insure they are within an acceptable deviation from the correct market value (using best availble data and applied to the State's valuation metrics). This Audit Division holds all the cards because they say whether the County's Tax Digest is accurate and acceptable to the State. Without and accepted Digest by the State, the County cannot send out tax bills to the property owners.
 

chanster

Banned
Dec 7, 2008
187
14
i just called the county office. yes in arrears. tax assements that come out in july are for the 2008 year. they will come down hard but i stole a house way under neighborhood comps and i'll have to wait to see how they assess in 2010 for the 2009 year.thanks to all
 

flyforfun

Beach Fanatic
Oct 20, 2006
311
39
Birmingham, Al
i recently bought a home in walton county thats a good 30% under the accessed tax value for 2008. my taxes at closing were set up on the 2008 assessment.my question is exactly what steps do i need to do to contest this to get them lowered? i believe the new tax values come out in april or so and are mailed in oct. my question is will the county see that i paid 30% less than the previous years assessment and lower my property taxes to around what i paid ?are do i need to file an appeal immediately and show my closing hud statement of my sales price? all help on the steps to take appreciated.


Good luck cause Walton County will kill you with their current tax formula, especially if you live out of state. All I can say is that property taxes sure went up faster than they have gone down! In many ways this property tax issue has "killed the goose that laid the golden egg" along with the entire real estate market. Just remember, "Flying saucers are nothing but taxpayers blowing their tops."
 
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JoshMclean

Beach Fanatic
Jan 15, 2007
995
128
Santa Rosa Beach
Property taxes has done little to effect the current market. I see about half the homes undervalued and overvalued according to the property appraiser's site. High inventory and inflated prices is what killed this market, not property taxes.
 

flyforfun

Beach Fanatic
Oct 20, 2006
311
39
Birmingham, Al
Property taxes has done little to effect the current market. I see about half the homes undervalued and overvalued according to the property appraiser's site. High inventory and inflated prices is what killed this market, not property taxes.

Josh, I will personally give you an example of how this contributes to high inventory. Right now, I would be buying additional property down there, but because of high taxes, I want even consider it or even recommend my friends to do the same. When I look at investment property, I look at taxes cause they calculate in the cost of my over head. The Walton County appraiser office counts the square footage of decks in its assessments formula. So if you have a 1,000 square foot house with 3,000 square foot of out door deck, they are going to appraise you at 4,000 feet. I know this cause I have a 3,000 foot home with 1,000 foot of decking and being charged as if its 4,000 feet, which in my opinion is 25% higher than it should be! When my tax bill is higher than the cost of my insurance, there is a problem. You have lots that now sale at 1990 prices, but those of us who own lots next door they are only droping them 5% off 2003 prices. That my friend is a contributory factor as to why there is still high inventory. Until the tax appraiser office realizes its part of the problem, sales are going to be slow.
 

TooFarTampa

SoWal Insider
Josh, I will personally give you an example of how this contributes to high inventory. Right now, I would be buying additional property down there, but because of high taxes, I want even consider it or even recommend my friends to do the same. When I look at investment property, I look at taxes cause they calculate in the cost of my over head. The Walton County appraiser office counts the square footage of decks in its assessments formula. So if you have a 1,000 square foot house with 3,000 square foot of out door deck, they are going to appraise you at 4,000 feet. I know this cause I have a 3,000 foot home with 1,000 foot of decking and being charged as if its 4,000 feet, which in my opinion is 25% higher than it should be! When my tax bill is higher than the cost of my insurance, there is a problem. You have lots that now sale at 1990 prices, but those of us who own lots next door they are only droping them 5% off 2003 prices. That my friend is a contributory factor as to why there is still high inventory. Until the tax appraiser office realizes its part of the problem, sales are going to be slow.

Whatever the information the property appraiser has on your home (ie square footage), what you are assessed for is based on your home's market value -- period. That's the way it works all over the state. So are you saying your assessed value is not in line with the true market value? In general, the figure I always hear is you are going to get an assessed value from the property appraiser of about 80 percent of what you actually could sell it for. As far as I can tell that is kind of an unwritten rule.

What Walton County can control to some degree is millage rates. Those rates are pretty low in general and from what I understand cannot go over 10 for an unincorporated area. Let me tell you that taxes are MUCH higher in incorporated cities. When you look at Florida coastal property taxes as a whole, Walton County is a steal.

When your taxes rose rapidly during the boom, it was because you do not have a homestead exemption and thus your assessed value went way up with the market. Again, that is state law and not controlled by the county.

I am curious, what are taxes like where you live?
 

flyforfun

Beach Fanatic
Oct 20, 2006
311
39
Birmingham, Al
Whatever the information the property appraiser has on your home (ie square footage), what you are assessed for is based on your home's market value -- period. That's the way it works all over the state. So are you saying your assessed value is not in line with the true market value? In general, the figure I always hear is you are going to get an assessed value from the property appraiser of about 80 percent of what you actually could sell it for. As far as I can tell that is kind of an unwritten rule.

What Walton County can control to some degree is millage rates. Those rates are pretty low in general and from what I understand cannot go over 10 for an unincorporated area. Let me tell you that taxes are MUCH higher in incorporated cities. When you look at Florida coastal property taxes as a whole, Walton County is a steal.

When your taxes rose rapidly during the boom, it was because you do not have a homestead exemption and thus your assessed value went way up with the market. Again, that is state law and not controlled by the county.

I am curious, what are taxes like where you live?

My taxes here in Birmingham, Alabama are "half" of what I am paying down there. Like I said the Florida tax formula is screwed up. Prior to 2003 it was reasonable, but not sense then. I have owned property down there for 10 years, and I am telling you property taxes are going down way to slow and is not in line with current market values. This is killing your real estate market down there and probably the whole state of Florida. When lots around me are selling at 1990 prices and the tax appraiser is keeping my property at 2003-04 values, there is a problem. I don't have one property with this problem but five! This year I will be camping out at his office.
 

Matt J

SWGB
May 9, 2007
24,646
9,496
FFF, you can appeal to the property appraiser to lower the value of your home. Thousands did it last year in Bay County. :wave:
 
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