Back Property Taxes Continue to Victimize Broward County Homeowners, but there is help…
Whether blocked from selling your Broward County home fast due to back property taxes, facing foreclosure from failure to pay them, or just desperately struggling to keep up with housing payments, there is help to be found.
Late mortgage payments are just one of many reasons Fort Lauderdale, Lighthouse Point, and Hollywood, FL homeowners continue to lose their properties by the thousand. Sadly many Broward property owners don’t even know that they are at risk of having their homes snatched from them for being late on taxes. Some may be getting grossly overcharged and could hold onto their homes if they knew how to fight back.
Key Dates for Broward County Homeowners:
- The second week of August TRIM notices, advising of proposed taxes are mailed out
- Homeowners have until September 17th to ‘late file’ for tax exemptions and discounts
- The Revenue Collector mails actual property tax bills the first week of November
If property taxes aren’t paid, then tax liens are auctioned off, and late bills begin accruing interest. If bills still aren’t paid properties can be repossessed and auctioned off. In some parts of the country homes have been foreclosed on and sold off this way for just a few dollars in back taxes, or associated fees.
2014 Broward County Foreclosure Statistics:
- In 2004 there were just 780 foreclosures in Broward County
- Foreclosure activity peaked in 2010 at 18,427
- As of April 2014 there were already 3,727 foreclosures in Broward
- RealtyTrac estimates Florida remains the most distressed state in the US, with 1 in every 74 Florida housing units in the default process in the first 6 months of 2014
Twisted Property Tax Bills Crushing Homeowners
Flawed property tax bills crush homeowners with unfairly high bills. While the Broward County Property Appraiser may have traditionally done a great job in comparison to areas like Long Island, where the majority of bills are flagrantly overblown each year, tax assessments have become incredibly challenging in the wake of the foreclosure crisis.
Home values have declined significantly in South Florida. Yet, many property owners in Lighthouse Point, Fort Lauderdale and Hollywood might not have seen appropriate deductions their assessments and tax bills. If neighboring homes have been selling low; your home’s value has come down, and should be taxed based on the reduced value.
The same goes for FL homes with hurricane damage. If roofs are gone, bedrooms have been reduced, or usable square footage has shrunk the same applies.
More recently it has been discovered that Broward builders got in on the game of using poisonous Chinese Drywall. Broward County will reduce the taxable value of your home to $0 for tax purposes if you can prove you have a Chinese Drywall issue.
New homes can also make taxes more complicated for homeowners. Those surrounded by newly built properties can find their assessments go up dramatically, as can the buyers of new homes, as new values are assessed. In Fort Lauderdale a five figure leap on a tax bill year over year isn’t uncommon on new construction properties.
Those that can’t afford to keep their homes due to high property taxes may contact the Broward County Housing Authority to inquire about potential loans for assistance.
Appeal or Sell?
If you believe your property tax bill is incorrect there are a couple ways to challenge it:
a) Attend outreach sessions on Wednesdays at 11:30 am at Pompano Beach City Hall
b) Contact the Tax Collector’s office by email or phone
c) File an appeal with the Broward County Value Adjustment Board
Of course, filing an appeal does not ensure homeowners will be granted one, and for many it may already be too late.
However, this does NOT mean homeowners should give up, and allow their properties to be swept from underneath them, and be left broke and homeless.
Until a house or condo is actually foreclosed on,or repossessed by a mortgage lender or taxing authority Fort Lauderdale, Hollywood and Lighthouse Point, FL may still sell homes fast, clear all their debt, and walk away with cash.
Even if you owe more than your home is worth, and have received adverse notices, Quick Cash 2 Sell can buy your South Florida home in just days, regardless of the condition and price range.
Contact the QuickCash2Sell team for a no obligation, cash offer for your home here.