With the addition of our new appraisal tool, it has brought up some good questions about property taxes and home appraisals in Miami-Dade County. We will do our best to answer any related questions here.
Who determines the amount of taxes I pay?
The Property Appraiser is the county officer charged with determining the value of all property within the county for tax purposes.
While the Property Appraiser determines the value of the property taxes, the local taxing authorities decide how much money is required to provide services.
The Property Appraiser’s office does not determine the amount of taxes you pay. The taxes can increase or decrease depending on the millage rate set by the school board, commissioners and other taxing authorities.
The Miami Board of County Commissioners, municipal governments and various governing bodies set the millage rates for properties within their boundaries.
How does the Appraiser arrive at the value for my property?
To find the value of a property, the Appraiser must first know what properties similar to it are selling for, what it would cost today to replace it, how much it takes to maintain, what income it may produce, and other factors affecting its value. Utilizing these factors, the Property Appraiser assesses the property’s value. The three approaches to value are:
#1. Comparable Sales Approach - One way to assess the property’s value is to find properties like yours - located in your vicinity - which have been sold recently. Their selling prices, however, must be analyzed very carefully to get at the true picture.
#2. Cost Approach - A second way is based on how much money it would take, at current material and labor costs, to replace your property with one just like it. If your property is not new, the appraiser must also determine how much it has depreciated.
#3. Income Approach - A third way is used if you happen to own property that provides you with a rental income, like an apartment house, a store, or a warehouse. Here the Property Appraiser must consider such dollar facts as your operating expenses, taxes, insurance, maintenance, and the return most people would expect to get on this kind of property.
What causes my home’s assessed values to change?
Property tax is based upon the value of your property. When the market value of your property changes, so does your appraised value.
A property’s value can change for many reasons. The most frequent cause of a change in value is a change in the market.
As older neighborhoods with good housing stock are discovered by homebuyers, prices gradually rise as the neighborhood becomes fashionable. In a recession, larger homes may stay on the market for a long time, but more affordable homes are in demand, so their prices rise. In a stable neighborhood, with no extraordinary pressure from the market, inflation may increase property values.
If you were to increase the total market value of your property by adding a swimming pool or second bedroom, the appraised value would increase proportionately. Similarly, should your property’s value be decreased by flood or fire, the appraised value would decrease to show the downward effect of this damage on the market value of your property.
State law requires the Miami-Dade County to appraise property at 100% market value. The Florida Department of Revenue conducts an in-depth audit of the tax roll every other year to ensure compliance. If the levels of assessment do not comply to the law, the tax roll will not be approved.
What steps do I take if I don’t think my appraisal is unfair?
A Notice of Proposed Taxes is mailed to all property owners no later than August 24th. The notice states what the assessed value of your property is and how much your taxes should be.
For a period of 25 calendar days after the mailing of the notice, the Appraiser’s office will provide property owners with an explanation of their assessed value.
If your opinion of the value of your property differs from the Property Appraisal, they suggest visiting their office and discussing the matter with them. If you have information to show that the appraised value is above the market value of your property, they will conduct a review. The purpose of the review - which is not yet an appeal - will cover the following:
• To verify your property record information
• To show how your value was estimated
• To determine if you qualify for any exemptions
• To be sure you understand how to file a formal appeal
• To discover if the value is fair compared with the values of similar properties in your neighborhood
Typically, property owners who follow this process are satisfied with the end result because they are exposed to sales activity and current costs in their area that must be considered in the appraisal process.
After talking with them, if you still find a significant difference between the appraisal and what you feel your property’s market value is, you may file a petition to be heard before the Value Adjustment Board.
When you receive your assessment notice in mid-August, read it for instructions about deadlines and filing procedures. If you need clarification, call the Property Appraiser’s office. Be sure you understand and follow instructions. A missed deadline or incorrect filing can cause an appeal to be dismissed.
An assessment appeal is an attempt to prove that the estimated market value of your property is either inaccurate or unfair. You are required to present evidence supporting your estimate of market value to the Value Adjustment Board.
The Value Adjustment Board has no jurisdiction or control over taxes or tax rates. Their only function is to hear evidence as to whether or not properties called to their attention are appraised at more or less than their market value. If such is the case, the Board has the authority to change the appraised value. They cannot change your appraised value for any other reason. The Board can also hear appeals on denial of exemptions.
How can I block property information?
Certain sworn personnel can block public access of their property information. For help on who qualifies and how to apply, please visit the Property Appraiser’s block public access page.
When should I receive my tax bill?
If you live in Miami-Dade, combined Tax Notices are mailed each year in November for the calendar year January through December. Taxes become delinquent on April 1 each year, at which time additional interest and fees are added to the bill.
According to Florida Statute 197.122, the taxpayer is “held to know” when taxes are due and payable. If a taxpayer does not receive a tax notice in November, it is the taxpayer’s responsibility to contact the Tax Collector’s Office to request a duplicate tax notice.
How do they calculate how much property tax I owe?
The assessed value provides the base for the equation. The formula is a bit confusing, but I will try to explain:
One mill equals $1 per $1,000 of property value.
You can estimate your property tax by using the assessed value, minus any exemptions, multiply by the millage rate, and divide by 1,000.
For instance, $100,000 in taxable value with a millage rate of 5.0000 divided by 1,000 would generate $500 in taxes.
The Property Appraiser’s office archives Millage Rate tables back to 2000. You can download a PDF file here.
Where is the Miami Appraiser’s Main Office Located?
Miami-Dade County Government Center
111 NW 1 Street
Miami, Florida 33128
Suite 710 Public Information Counter
Phone: (305) 375-1205
Fax: (305) 375-3024
Hearing Impaired: TDD (305) 375-3607
Office Hours are 8am to 5pm.
Question and comments about Property Taxes in Miami-Dade will be answered promptly.
Gus Moore heads up Miami Beach 411 as site administrator. You can reach him at 1-305-754-2206.