Owing a single or multiple properties in Miami is a financial commitment that needs proper planning. One annual outlay that is guaranteed is property taxes. It is essential that Miami home owners are alert of their accountability in paying these taxes on time.
Listed below are 4 essential factors to consider regarding paying property taxes in Miami.
Tax year & annual notices:
The tax year in Miami runs the same as the calendar year, from Jan to Dec. At the conclusion of 2017, there was some chaos in the media regarding whether 2018 property taxes could be paid before the starting of the New Year. This isn’t a choice; as tax rolls aren’t open until November first of 2018. It means, being a property owner, you won’t receive your evaluated tax amount until November first at the earliest. Hence, it isn’t feasible to pay your 2018 property taxes until that point.
The tax year in Miami runs the same as the calendar year, from Jan to Dec. At the conclusion of 2017, there was some chaos in the media regarding whether 2018 property taxes could be paid before the starting of the New Year. This isn’t a choice; as tax rolls aren’t open until November first of 2018. It means, being a property owner, you won’t receive your evaluated tax amount until November first at the earliest. Hence, it isn’t feasible to pay your 2018 property taxes until that point.
Property owners in Miami should know that they’re qualified for discounts on property taxes if they’re reimbursed by particular deadlines:
• If property taxes are reimbursed in November, you’ll save 4 percent.
• If reimbursed in December, you’ll save 3 percent
• If paid in January, you’ll save 2 percent
• If paid in February, you’ll save 1 percent.
Payment Options:
Property taxes in Miami can be paid in 3 diverse ways.
• Online tax payment can be done by searching for the property on the Miami-Dade property tax website. By choosing this option, you can pay by credit card or e-check.
• The 2nd option is to reimburse by sending money order or check through the mail. You’ll have to make your cheque payable to the Miami-Dade County Ttax Collector. However, you can’t transfer money via the mail.
• The 3rd choice is to pay directly, but only hard cash is accepted. Credit card payments aren’t accepted as a face-to-face payment.
Value Adjustment Board Petitions:
If a Miami property owner petitions the evaluate of the worth of their property, the owner should still reimburse 75 percent of the petition property’s assessed Ad Valorem Taxes, and 100 percent of the property’s Non-Ad Valorem Assessments, which encompasses services on the property according to the assessed worth, by March 31, 2018. If this payment isn’t done by the March 31st, deadline, the appeal to reassess the worth of the property will be rejected by the Value Adjustment Board.
If a Miami property owner petitions the evaluate of the worth of their property, the owner should still reimburse 75 percent of the petition property’s assessed Ad Valorem Taxes, and 100 percent of the property’s Non-Ad Valorem Assessments, which encompasses services on the property according to the assessed worth, by March 31, 2018. If this payment isn’t done by the March 31st, deadline, the appeal to reassess the worth of the property will be rejected by the Value Adjustment Board.
Hopefully these tips will help you in making your property taxes on time! If you are looking for more information on Miami properties for sale, feel free to contact Kamany Realty & Property Management Inc. for help.
