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Why is my assessed value higher when my market value was lowered this year

Author Deb
Participant 

#1 | Posted: 28 Aug 2008 10:23 
I am really peeved. Palm Beach took down my property value (land value) yet they are increasing my assessed value from what it was last year? Shouldn't the two go hand in hand. I am getting a double whammy here because they have taken away land value yet have increased my property taxes. It really makes no sense to me at all. I just got off the phone with them and they said they are entitled to raise the tax 3 percent no matter what. Even so.. If my market value is coming in lower... That tax should be lower than it was last year.

Author johnbsims3
Admin Male

#2 | Posted: 28 Aug 2008 11:44 
Deb,

They aren't assessing you at market value now. They are correct, they have the right to increase a maximum of 3% per year based on the Save Our Homes exemption, regardless of the value, whether it be an increase or a decrease.
http://www.floridahomesteadservices.com

Author Deb
Participant 

#3 | Posted: 28 Aug 2008 12:29 
It still doesn't make sense. I have the same market value on the house but the land value decreased by thousands of dollars. My assessment would be less than last year even with the 3 percent it would seem.

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Why is my assessed value higher when my market value was lowered this year
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