March 26, 2012

By George Powell, MAI, CRE

In an effort to ensure cash flow from property taxes during the current recession, the Florida Legislature passed HB 281 in May 2011 requiring the petitioner challenging the assessed value of property before a county Value Adjustment Board to pay 75% of the billed taxes by March 31 of the post-tax year. Failure to pay this minimum tax will result in the automatic dismissal of a pending appeal by the Value Adjustment Board. The effective date of the law is July 1, 2011 and applies to petitions filed with a Value Adjustment Board on or after July 1, 2011.

Akerman handles property assessment appeals at both the VAB and circuit court level. Assessment appeals involve complex valuation issues in which our attorneys are trained. With a team including an attorney that holds the MAI designation from the Appraisal Institute, Akerman regularly handles appeals throughout the state of Florida.

---

This Akerman Practice Update is intended to inform firm clients and friends about legal developments, including recent decisions of various courts and administrative bodies. Nothing in this Practice Update should be construed as legal advice or a legal opinion, and readers should not act upon the information contained in this Practice Update without seeking the advice of legal counsel. Prior results do not guarantee a similar outcome.