Counties across the state of Florida will be issuing 2020 valuation assessments in the coming week. Despite current economic conditions brought about by the COVID-19 pandemic, property owners can anticipate increases in their assessments.
In some instances, these increases could be considered above market value. With the expected tax rate increase, property tax liabilities will go up substantially over prior years. Property owners should consider aggressively pursuing filing appeals for the 2020 tax year.
If you are interested to learn more about this revaluation and the potential impact to your property tax liability, please contact the experts at Ryan for additional details. Our Florida team represents $104 billion in assessed value throughout the state, including all commercial property types and classes. For more information regarding tax developments, visit our COVID-19 Tax Updates site.
TECHNICAL INFORMATION CONTACT:
Imran Thobani
Principal
Ryan
954.476.4269
imran.thobani@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.