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Suncoast Pasco News

Property Tax Notices To Hit Mailboxes

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By Carl  Orth | The Suncoast News

Published: August 20, 2008

NEW PORT RICHEY - Perhaps a typical Pasco County resident might stifle a yawn and glance for a moment or two at a TRIM notice of proposed property taxes before stashing the document in some file folder.

But as TRIM notices arrive in mailboxes this week, Property Appraiser Mike Wells urges taxpayers to take a closer look because of the impact from Amendment 1 reforms.

To demystify the notice, Wells had his staff create an illustration of the TRIM notice and a step-by-step explanation of 12 items listed on the notice.

The TRIM explanation is posted online on the Property Appraiser's Web site.

By law, each taxpayer must get a copy of the notice to explain how the appraiser arrived at the market value on the home, which in turn determines the estimate on property taxes the resident will pay in the next fiscal year, which starts Oct. 1. The document also lists the dates of public hearings.

This batch of TRIM notices will be the first to reflect the doubling of the homestead exemption to $50,000 for most homes, Wells points out.

Foreclosures could have an impact on the values of all homes in a neighborhood, Wells explains.

The Save Our Homes cap on annual property tax increases is now portable when a resident moves within the state.

Businesses or other properties that don't qualify for a homestead exemption will not qualify for a 10 percent cap on the annual assessment, thanks to Amendment 1 reforms.

Wells emphasizes the Sept. 15 deadline for people to file a petition to have the market value reviewed. Appeals go before the Value Adjustment Board.

For questions call the Property Appraiser's Office at 727-847-8151.

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