Florida taxpayers will soon receive their notices of value, known as TRIM (Truth in Millage) Notices, which will reflect the proposed 2021 property values for both real and personal property. Although the assessed value may be the same as or less than that of the previous year, the property might still be over-assessed and therefore the notice might not reflect the property’s true market value.
It is imperative that notices are reviewed in a timely manner for accuracy since there is a short window of opportunity to protest the valuation of the property. An appeal must be filed within 25 days of the date of the notice. Typically, this time period is between September 1 and September 30. Any reduction in assessed value will result in a reduction of property taxes that will be due from November 2021 through March 2022.