Posted on: 06th Nov, 2007 05:10 am
I reside in Florida. I was quit claimed property and the tax bill arrived and the property was reassessed more than double, which in turn increased taxes due more than double.
Am I correct in thinking that the property was not sold, it was quit claimed, and therefore the assessed value should remain the same? It was a transfer of property between family members.
Thanks for your time.
Am I correct in thinking that the property was not sold, it was quit claimed, and therefore the assessed value should remain the same? It was a transfer of property between family members.
Thanks for your time.
Was the property assessed because of the quit claim?
It could have just been time for a new assessment. That happens on a regular basis in some areas.
It could have just been time for a new assessment. That happens on a regular basis in some areas.
Hi,
There are certain areas where property assessment is updated at regular intervals. If the new assessment is higher, then you have to pay that accordingly.
There are certain areas where property assessment is updated at regular intervals. If the new assessment is higher, then you have to pay that accordingly.
