JACKSONVILLE, Fla. – Homeowners don’t have much time to waste before the Sept. 10 deadline to appeal their property tax assessments.
All Florida homeowners received Truth in Millage Rate (TRIM) notices in mid-August.
Colton Pace, CEO of Ownwell, a company that helps property owners reduce their property taxes, has helped hundreds of homeowners save money through the appeals process. He said this is a critical opportunity for homeowners to potentially reduce their property tax burden.
“We encourage everybody to thoroughly review this tax assessment notice that they receive in the mail. Make sure they have your bed and bath right. Make sure they have your square footage right. In Florida, it’s really important to make sure you have the under air square footage right,” Pace said.
Pace founded the website Ownwell which is a tool homeowners can use to navigate the appeals process. Just enter your address to find out if there’s an opportunity to save. Pace said on average, they save homeowners $1,000 annually.
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“95% of people just pay their property tax bill, no questions asked. We at Ownwell help make sure that your property tax bill is fair and that you’re not overpaying,” Pace said. “It is on you actually to see this term notice and make sure that you act in a timely manner, and so you only have these few days to actually file a petition. And if you don’t, you miss and you lose your legislative right to actually push back on this assessment.”
Property taxes in Florida are calculated based on the tax-assessed value, usually lower than the market value due to property tax exemptions. Pace says homeowners might be overpaying when the assessed value exceeds the actual market value.
Pace said there’s a formula for making a strong case to appeal on your property taxes. Without a strong case, there’s a potential risk of an increased tax assessment.
“For most properties, it’s associated with recent sales in your neighborhood,” Pace said. “So, if you see your assessment slightly higher or even close to a home that’s been recently sold you probably have a case to potentially get it reduced.”
If you use Ownwell to appeal your property taxes, there is a fee involved, but only if they can successfully lower your bill. Homeowners can also use the Duval County Property Appraiser’s website to appeal on their own. It costs $15 to appeal directly to the county.
“If we think we can save you money from the beginning, and you basically authorize us to talk to the tax assessors on your behalf. And once we’re authorized, we can go in and represent you at a hearing,” Pace said. “We do not charge anything upfront. We will only charge a contingency fee of a percentage of savings after we save you money.”
The typical process to appeal involves the Value Adjustment Board. The board will schedule a hearing in some cases but most are resolved without going to the board.
If you did not receive your TRIM notice, contact the Duval County Property Appraiser’s office.