Save Our Homes snafu: Despite home-value plummet, assessments going up
by Michael C. Bender | February 4th, 2010More than 42 percent of Palm Beach County’s homesteaded property owners might be in for a surprise when they get their property tax bills this year, Property Appraiser Gary Nikolits warned Thursday.
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February 5th, 2010 at 7:10 am
This is not an increase in taxes, but rather a decrease in exemption designed to “recapture” some of the discount that long-time homeowner’s built up over time. Three years ago everyone was complaining that their neighbors were paying less in taxes due to Save Our Homes. Now the discount is decreasing and they’re paying back more of their share. This is not a “snafu”, it’s designed to alleviate large tax discprencies over time.