Property Tax Appeal Glossary

Assessed Value

Generally the market value limited by the "Save Our Homes" cap on homesteaded property. Homesteaded property cannot increase more than 3% a year unless there are changes made to the property or changes in ownership. If the property shown on the TRIM notice is not your homestead, then the columns for "market value" and "assessed value" likely will be the same. If the property has a classified use value, such as for agriculture, the assessed value column is its classified use value. 

County Property Appraiser 

The County Official charged with making determinations as to the value of real property within a given county.

Exemptions 

Are circumstances specific to the homeowner which enable them to lower their assessed value of their home further to create a taxable value on which their taxes are based 

Market value

Is the County Property Appraiser’s best estimate of what a willing buyer would have paid a willing seller for the property as of January 1. The market value is based on real estate transactions from the previous year and comparable values in your area. The market value determined by the County Property Appraiser's Office and reflected on your TRIM Notice is for ad valorem taxation purposes only. 

Special Magistrate 

A real estate appraiser, personal property appraiser or attorney appointed by the Value Adjustment Board to conduct hearings and make recommendations regarding specific property tax appeals. 

Truth In Millage (TRIM) - Notice of Proposed Property Taxes

The Notice of Proposed Property Taxes, also called a "Truth in Millage" (TRIM) Notice, is mailed to property owners in mid-August each year. It is not a bill, but rather an estimate of your taxes based on the proposed tax rates, your property value and exemptions. 

The TRIM Notice contains important information on several items: 

· Identifies which property is being referenced by the key number, parcel number and abbreviated parcel description. 

· Provides a list of the taxing authorities which levy taxes on your property. 

· Provides Non-Ad Valorem Assessments commonly known as MSBU's (Municipal Service Benefit Unit) or Special Assessments such as Fire/Rescue, Solid Waste, etc. 

· Provides a comparison of last years taxes, proposed taxes if the taxing authorities budget is approved and proposed taxes if no budget change is made. 

· Provides a schedule of taxing authorities meeting times and places for you to voice your opinion regarding the budget process. Also individual taxing authority phone numbers. 

· Provides a comparison of last year's and the current year's Market Value, assessed value, exemptions and taxable value as determined by this office. 

· Provides a deadline in which to file a formal appeal with the Value Adjustment Board if you disagree with the estimated Market Value. This deadline is established by Florida Statute based on the date of mailing of the TRIM Notice and is highlighted in blue near the bottom of the notice. 

Value Adjustment Board (VAB)

Is a panel that considers and renders decisions on all appeals of property assessed values, classifications and exemptions. It consists of Three (3) members of the Miami-Dade County Board of County Commissioners and Two (2) members of the School Board of Miami-Dade County. The Clerk of the Circuit and County Courts is the Clerk of the Value Adjustment Board. The Value Adjustment Board has no jurisdiction or control over taxes or tax rates established by Taxing Authorities. It cannot change your assessed value or grant an exemption or agricultural classification for any other reason, such as inability to pay taxes. The Value Adjustment Board has the authority to reduce a property’s assessed value to its actual fair market value.

The Value Adjustment Board is assisted by Special Magistrates, who conduct hearings and make recommendations to the Value Adjustment Board regarding specific property tax appeals. Both the Value Adjustment Board and Special Magistrates are independent of the County Property Appraiser’s Office.