3 Things to Know About Miami Property Tax Payments in 2018

February 1, 2018

Owning a property is a financial commitment that takes proper planning. One annual expense that’s guaranteed is property taxes. It’s imperative that homeowners in Miami are aware of their responsibility in paying these taxes appropriately and on time.

Here are three important factors to know about property taxes in Miami.

1. Tax Year and Annual Notices

The tax year runs the same as the calendar year, from January to December. Tax rolls will not be open until November first of 2018, and property owners should be aware to expect their tax notices on November first of each year.

2. Discounts Available for Early Payment

• If taxes are paid in November, you will save 4%.
• If paid in December, you will save 3%.
• If paid in January, the discount is 2%.
• If paid in February, the discount is 1%.

3. Value Adjustment Board Petitions

If a property owner petitions the assessment of the value of their property, the owner must still pay 75% of the petitioned property’s assessed Ad Valorem Taxes, and 100% of the property’s Non-Ad Valorem Assessments by March 31, 2018.

 

For professional advice on all aspects of buying or selling real estate, please contact me at aross@miamirealestate.com or (305) 206-4003, or come see me at the Compass office located at 2550 South Bayshore Drive, in Coconut Grove.