Southwest, Florida experienced record setting appreciation rates over the past few years.   Subsequently, our residential real estate taxes have followed suit.   The local real estate market has since experienced a downturn which started to become evident around the beginning of 2006.  This dramatic change in market conditions has been well documented in all forms of our local media.  The slow market throughout 2006 and 2007 has impacted nearly everyone in the residential real estate and construction industry.

LowermyREtaxes.com was established by local independent real estate appraisers after routinely identifying properties where our Appraised Value was less than the current Assessed Value as developed by the County Property Appraiser.   The appraisals were being conducted for numerous different purposes which include but were not limited to:  financing(purchase and refinance), estate, divorce, listing, and foreclosure.   Additionally, properties have routinely been identified as being listed on the market for sale for less than their Assessed Values as developed by the County Property Appraiser.  These potentially over assessed properties were identified solely while conducting independent appraisal services.

Naples, FL was reported to be the 3rd most overvalued market in the United States, according to the Housing Prices in America, 1st quarter 2007 Joint Venture report conducted by GlobalInsites and National City Corporation. View Full Report.  Now a year later it is reported to be the 5th worst declining market in the country.

Your 2008 Notice of Proposed Property Taxes will be mailed to you on or about August 15th, 2008.  You have only 25 days to review your Proposed Assessed Value and to file a petition if you are not able to resolve any issues with the Property Appraiser.  The limited time between receiving your Notice of Proposed Property Taxes and the deadline to file the petition leaves most property owners at a loss and most property owner never file their petition. Property owners can file the petition at any time up until the deadline to file.   Click Here to view of sample of the Notice.  Your Proposed Assessed Value is based on a valuation date of January 1st of each year.  As of January 1st, 2008, all of the data is in.  You can have a private independent appraisal conducted on your property, attach a copy of the appraisal with your petition and be prepared to pursue the petition should you feel your 2008 proposed taxes are not acceptable to you.

It may be time to have your Property's Assessed Value reviewed by a qualified independent real estate appraiser.