The Biggert Waters Flood catastrophe is so much bigger than merely $70,000 Flood Insurance premiums. What will happen is entire communities are going to be devastated. And it’s not just the cost of insurance. What’s going to happen once people in these communities realize what’s happening is the devastation will spread like wildfire.
In communities all across this country that are impacted by this, residents are still paying taxes on properties based upon values that might have existed prior to the devastating impact of this federal legislation. In Pinellas County in particular, the most densely impacted county in the entire country, There are tens of thousands of properties that are wildly inflated that should be paying minimal in taxes, but which for which consumers continue to pay these wildly inflated amounts.
When you consider the true market impact of Biggert Waters and the decline in values, legitimate arguments will be made that
CONSUMERS SHOULD NOT BE PAYING ANY PROPERTY TAXES AT ALL!
Quite simply, homes in areas impacted by flood have no value because they cannot be sold….but if you don’t fight to get your property assessment lowered, the property appraiser will continue to tax all the tax money you are willingly providing to them.
But there is something that can be done…something that must be done….
CHALLENGE THE PROPERTY TAX ASSESSMENT ON YOUR PROPERTY
There are two formal methods to challenge what you are paying, first through the Value Adjustment Board, then next in a formal court proceeding. These are highly specialized and technical procedures and succeeding is most difficult. Accordingly, select a highly trained individual to assist you.
193.011 Factors to consider in deriving just valuation.—In arriving at just valuation as required under s. 4, Art. VII of the State Constitution, the property appraiser shall take into consideration the following factors:
(1) The present cash value of the property, which is the amount a willing purchaser would pay a willing seller, exclusive of reasonable fees and costs of purchase, in cash or the immediate equivalent thereof in a transaction at arm’s length;(2) The highest and best use to which the property can be expected to be put in the immediate future and the present use of the property, taking into consideration the legally permissible use of the property, including any applicable judicial limitation, local or state land use regulation, or historic preservation ordinance, and any zoning changes, concurrency requirements, and permits necessary to achieve the highest and best use, and considering any moratorium imposed by executive order, law, ordinance, regulation, resolution, or proclamation adopted by any governmental body or agency or the Governor when the moratorium or judicial limitation prohibits or restricts the development or improvement of property as otherwise authorized by applicable law. The applicable governmental body or agency or the Governor shall notify the property appraiser in writing of any executive order, ordinance, regulation, resolution, or proclamation it adopts imposing any such limitation, regulation, or moratorium;(3) The location of said property;(4) The quantity or size of said property;(5) The cost of said property and the present replacement value of any improvements thereon;(6) The condition of said property;
