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Greater than fifty percent of the property closings which are going on in the state of Florida today, as of October 27, 2009, are either short sales, foreclosed properties or bank owned houses. Then again, the tax collector/assessor has taken the posture that the transactions of those houses do not meet the criteria for determination for value purposes in assessing taxes. In other words, a property that might have been worth One Million dollars and assessed at that rate 36 months ago, which has consequently sold at Three Hundred Thousand dollars may still be assessed at the million dollar rate. According to the tax appraiser houses which are bought by third parties without any collusion or any connection to the seller which fall into those categories do not meet the criteria for reconsideration of the taxable value. I know the state of Florida and our counties are worriedly in need of cash. However, is it fair for the property owners to be assessed taxes on property which is worth 30% to 40% less than the actual value? Please if anyone has any comments or questions, speak out.
Since the tax assessor/collector is unwilling to take into account sales of properties which are bank owned or foreclosed in order to reassess the value for tax, this possibly might be one additional cause why tax payers might desire to consider selling the property to third party buyers for the value they are able to obtain at current market rate rather than to let those issues to take place. In other words, it may well be an additional motivation to do a private sale that would allow the new purchaser to get a new assessed value and might be a potential bargaining chip. Please give this important thought.
Gregory P. Farrar, Esquire
Farrar Law Firm
Barrister Title Company
http://www.farrarlawfirm.com
Gregory P. Farrar is the principal attorney and founder of the Farrar Law Firm. For over 25 years, Mr. Farrar has achieved optimum results for his clients. Get your Pensacola Home Value
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