FYI From the Hernando County Property Appraiser's Office regarding Trim Notices

Your Hernando County Property Appraiser will be mailing out the TRIM Notice on August 19th, 2011. It is your proposed Notice and although it is marked on the front of the notice “DO NOT PAY THIS IS NOT A BILL” it is very important that you open and read it as it contains date sensitive information.

WHAT DOES IT CONTAIN?

The TRIM Notice contains important information on several items:

•Identifies which property is being referenced by the key number, parcel number and abbreviated parcel description.

•Provides a list of the taxing authorities which levy taxes on your property.

•Provides Non-Ad Valorem Assessments commonly known as MSBU's (Municipal Service Benefit Unit) or Special Assessments such as Fire/Rescue, Solid Waste, etc.

•Provides a comparison of last year’s taxes, proposed taxes if the taxing authorities’ budget is approved and proposed taxes if no budget change is made.

•Provides a schedule of taxing authorities meeting times and places for you to voice your opinion regarding the budget process. Also individual taxing authority phone numbers.

•Provides a comparison of last year's and the current year's Market Value, Assessed Value, Exemptions and Taxable Value as determined by this office.

•Provides a deadline in which to file a formal appeal with the Value Adjustment Board if you disagree with the estimated Market Value. This deadline is established by Florida Statute based on the date of mailing of the TRIM Notice and is highlighted in blue near the bottom of the Notice.

- NOTE: Although the Property Appraiser's Office is responsible for mailing this Notice, the Market, Assessed and Taxable Values are the only issues this office can address. If you have questions about the taxes you pay, or have budget questions, you must contact the appropriate taxing authority.

Frequently Asked Questions:

1) Why are some columns on the Notice of Proposed Taxes blank?

If some columns on your Notice of Proposed Taxes are blank, it means that you have a zero Taxable Value. Consequently, you are not liable for any Ad Valorem property taxes for that particular Taxing District. However, please note that all Non-Ad Valorem Special Assessments are still applicable.

2) Where do I find what Exemptions I have?

The 2011 Assessment Reductions/ Exemptions box displays all the Exemptions you have qualified for on your property. The Department of Revenue has mandated the order in which the Exemptions must be applied to the Assessed Value. Some Exemptions such as the Additional Homestead or Low Income Senior only apply if the property is over a certain Assessed Value and must be deducted after other Exemptions.

3)The current trend of the real estate market seems to be dropping faster than what you show. Why?

We’re always playing catch up. That is, the 1/1/2011 value is developed using 2010 sales data. The continuing decline of the real estate market will be reflected in the 1/1/2012 value.

4) What is the difference between the Just, Market, Assessed & Taxable Values?

Market Value is the amount your property could actually sell for on 1/1/2011. The Assessed Value can be different than the Market Value for those properties that are protected by “Save Our Homes” which limits the rate the Assessed Value can increase. The Taxable Value is the resulting value after all applicable Exemptions have been deducted.

5) What are Non-Ad Valorem Assessments?

These are commonly known as MSBU’s (Municipal Service Benefit Unit) or Special Assessments. They include such items as Fire/ Rescue, Solid Waste, Street Lighting, Road Paving, and CDD’s (Community Development District, etc.). They are based on a flat fee rather than the value of the property.