JACKSONVILLE, Fla. – U.S. home prices spiked an unprecedented 43 percent during the pandemic, a report found.
Higher mortgage rates have started to push that down a bit but a lot of homeowners are still facing higher tax bills because of the spike.
Homeowners have the right to appeal their homes assessed value – through the Value Adjustment Board.
For people who live in areas like St. Johns County – which have seen some of the biggest spikes in home prices this could mean significant savings.
Related: St. Johns County could soon reap benefits of higher home values
It’s no secret home values are going up in St. Johns County with no signs of slowing down soon. That’s why, when it comes to your home, it’s important for you to have a say.
“It’s critical in these types of years where property values are going up, St. Johns County Clerk of Court and Comptroller Brandon Patty says. “But it’s critical year to year as well.”
Patty also says the Value Adjustment Board allows for transparency and diplomacy. Here’s how it works.
- The property appraiser’s office sends all homeowners a letter outlining their assessed home property value.
- If you disagree with that assessment, you should request an informal meeting with the property appraiser’s office
- If there’s still a disagreement, you can then file for a hearing with the VAB.
“It’s the separation of powers, the checks, and balances, that allows us to be able to just protect the public’s trust, Patty says. “In our government. It’s one of those where if we didn’t have this process, as well as a variety of other processes in place, then taxpayers, property owner residents wouldn’t have an opportunity to make sure that their voices heard.”
Patty says in 2021, 305 petitions were filed and of those, only 6 went to a hearing.
“This year, we’ve received close to 60-70 petitions so far, Patty says. “But the window closes next Tuesday. So, that’s why it was so important for us to be able to start reiterating and getting the word out.”
Most counties have electronic applications – and appeals forms on their websites.
One issue people face – is submitting their applications to the Florida department of revenue by mistake.
These must be returned to the Value Adjustment Board – which is separate.
The deadline is September 13, 2022.