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Property Tax Reduction Strategies

Property Tax Reduction Strategies. The Hagen Law Firm. 6249 Presidential Court Suite F Fort Myers, FL 33919 (239) 275-0808 info@mikehagen.com www.mikehagen.com. Key Florida Property Tax Laws. Florida Constitution. Article VII, Section 4: “just valuation” (market value)

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Property Tax Reduction Strategies

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  1. Property Tax Reduction Strategies

  2. The Hagen Law Firm 6249 Presidential Court Suite F Fort Myers, FL 33919 (239) 275-0808 info@mikehagen.com www.mikehagen.com

  3. Key Florida Property Tax Laws

  4. Florida Constitution Article VII, Section 4: • “just valuation” (market value) • Agricultural classifications • Homestead exemptions and 3% assessment cap

  5. Florida Statutes • Chapters §192 – 196, F.S. • Chapter §192.042: January 1st is assessment date. Substantial completion provision.

  6. Florida Statutes Chapter 193.011 – Eight criteria: • Cash value less costs of purchase. • Highest and best use / present use. • Location. • Size. • Cost. • Condition. • Income. • Net proceeds of sale.

  7. Florida Statutes Chapter 193.052 • Tangible personal property return. Chapter 193.062 • TPP Return filing deadline – April 1st.

  8. Florida Statutes Chapter 193.063 • 30 day TPP return extension, and • additional 15 day extension (optional) Chapter 194.301 • Presumption of Correctness

  9. Florida Statutes Chapter 193.1554 • 10% cap on non-homestead assessments. Chapter 193.461 • Agricultural exemptions

  10. Florida Statutes Chapter 194.011 – Assessment Notices (a/k/a Trim Notices) • Informal Conference • 25 days to petition value Chapter 194.171 – Circuit Court “appeals”

  11. Tangible Personal Property Discussion

  12. Value Adjustment Board Appeals Discussion

  13. GULF-FRONT HOTEL: 4 CONSECUTIVE YEARS REDUCTION

  14. 5 bayfront lots cut from $4,000,000 to $1,300,000!

  15. GULF FRONT HOTEL - $3.3 MILLION REDUCTION

  16. BEACH FRONT HOTEL: $1.6 MILLION REDUCTION

  17. U.S. 41 RESTAURANT: $700,000 REDUCTION

  18. Our Property Tax Focus Includes: • Hotels • Apartment Buildings • Marinas • Office Buildings • Retail Buildings • Commercial Land

  19. FORT MYERS BEACH MARINA: $1.3 MILLION REDUCTION

  20. CONDOMINIUM CONVERSION: 100 UNITS X $20,000 PER UNIT REDUCTION

  21. At TaxCuts1 - we can help!

  22. DOCK-O-MINIUMS: $1.1 MILLION REDUCTION

  23. GULF FRONT RESTAURANT: $736,000 REDUCTION

  24. BONITA BEACH BAYFRONT: $1.4 MILLION REDUCTION

  25. Kevin Jursinski, Esquire Charles Sloan, Realtor Bruce Strayhorn, Esquire Joseph Madden, Esquire Frank Pavese, Jr., Esquire Robert Pritt, Esquire Leo J. Salvatori, Esquire Scott Morris, Esquire Don Brooks, General Contractor Dan Miller, Realtor Tom Birch, Realtor Michael Frye, Realtor Stan Stouder, Realtor Ron Inge, Broker Mark Horowitz, Esquire Steve Hartsell, Esquire William Keyes, Esquire Thomas E. Moorey, Esquire Richard Pringle, Esquire Mike Randolph, Esquire Steve Carta, Esquire Hank Hendry, Esquire Roger Burks, General Contractor Tom Woodyard, Realtor Stephanie Miller, Realtor Jerry Myer, License Real Estate Broker Jeannie Steidel, Realtor David Knizer, Developer TaxCuts sincerely thanks the many real estate professionals who referred their clients to us for property tax consulting and appeals. Our valued referring colleagues include:

  26. Visit TaxCuts1 on the web at www.TaxCuts1.com(239) 275-0808

  27. Conclusion

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