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Answers to an Inaccurate Property Tax Assessment - 7/30/2025

Each year, homeowners receive a notification of their property tax assessment, which, when combined with the local tax rate, determines how much they owe in property taxes. While this process is meant to fairly reflect a home's value, assessments are not always accurate. If the valuation is incorrect, homeowners may end up paying more than they should. Fortunately, you have the right to challenge the assessment if you believe it is inaccurate.

Here are some of the most common reasons a property tax assessment may be incorrect:

  1. Overvaluation - Assessors estimate your home's market value, but if they overvalue it, your taxes will be higher than necessary. This can happen if they rely on outdated or incomplete data or if home values in your area have declined since the last assessment.
  2. Errors in Property Information - Mistakes in the assessor's records can lead to an inflated value. Common errors include incorrect square footage, an inaccurate number of bedrooms or bathrooms, or outdated details about renovations and improvements. If the records show more features than your home actually has, you may be paying too much in taxes.
  3. Comparable Sales Discrepancies - If similar homes in your neighborhood are assessed at a lower value, your home's assessment may not be consistent with market trends. Assessors use comparable properties to determine value, but if they fail to factor in differences—such as location, lot size, or condition—it could lead to an unfairly high assessment.
  4. Market Value Decline - Real estate markets fluctuate, and if your property's value has dropped since the last assessment, your tax bill may not reflect the change. Assessors do not always adjust values quickly enough to keep up with market shifts.
  5. Damage or Deterioration - If your home has suffered significant damage—such as structural issues, fire damage, or foundation problems—it could be worth less than its assessed value. If these factors aren't considered, you may be overpaying.
  6. Incorrect Classification - If your home is classified incorrectly—such as being assessed as commercial property instead of residential—it can result in a much higher tax bill.
  7. Exemptions Not Applied - Many homeowners qualify for tax exemptions, such as homestead, senior citizen, or veteran exemptions. If these were not applied, your tax bill could be higher than it should be.

If you believe your property tax assessment is incorrect, you have the right to challenge it. This typically involves gathering evidence, such as recent comparable home sales, correcting errors in the property records, or providing proof of market decline or damage.

Your real estate agent can be a valuable resource in this process. They can help you find comparable sales data and provide insights into market trends. If you have questions about your property's value or the process of appealing your tax assessment, reach out to your agent—they're there to help!

Dave/Maggie Smith and Julie Jones CRB, SFR, CLHMS Smith and Associates St Petersburg , FL (727) 452-8663 Julie Dave and Maggie Smith, Broker-Associates, bring a wealth of knowledge and experience to the table when working on behalf of their customers. They realize that buying and selling homes involves many important decisions and that you want agents with an excellent reputation who are honest and hardworking and who will communicate and be responsive throughout the entire process. · Sales totaling over $70 Million the past 6 years · RE/MAX Hall of Fame, Chairman's Club, and Platinum Club members · 30+ Years of Combined Experience and CRB, SFR, and CLHMS designations · Top 1% of the 9,000+ member Realtor organization in Pinellas County Prior to partnering with wife, Maggie, in 1995, Dave spent many years as VP and Managing Broker of several top tier real estate offices being honored as "Manager of the Year" repeatedly and earning the admiration and respect of his peers. Dave previously served as Director and Secretary for the St. Petersburg Association of Realtors, two time Secretary of The Greater Clearwater Association of Realtors, Director of the Florida Association of Realtors, Member of FAR Honor Society, Member of Who's Who in Real Estate, and a Member of the Professional Standards Committee. Dave is an excellent problem solver, negotiator, and out-of-the-box thinker when it comes to representing buyers and sellers in the most challenging real estate market in decades. Those who know him, know he has a great sense of humor. He enjoys golf, fishing and tennis. Maggie has been a licensed Realtor since 1983 and earned her broker's license in 1991. Prior to partnering with Dave in 1995, Maggie worked as a real estate agent at a small boutique firm where she specialized in outstanding customer service and satisfaction. Maggie loves showing houses and realizes the importance of being patient and really listening to what customers want and need. She enjoys walking, reading, tennis and cooking. About David Dave and Maggie Smith, Broker-Associates, bring a wealth of knowledge and experience to the table when working on behalf of their customers. They realize that buying and selling homes involves many important decisions and that you want agents with an excellent reputation who are honest and hardworking and who will communicate and be responsive throughout the entire process. · Sales totaling over $70 Million the past 6 years · RE/MAX Hall of Fame, Chairman's Club, and Platinum Club members · 30+ Years of Combined Experience and CRB, SFR, and CLHMS designations · Top 1% of the 9,000+ member Realtor organization in Pinellas County Prior to partnering with wife, Maggie, in 1995, Dave spent many years as VP and Managing Broker of several top tier real estate offices being honored as "Manager of the Year" repeatedly and earning the admiration and respect of his peers. Dave previously served as Director and Secretary for the St. Petersburg Association of Realtors, two time Secretary of The Greater Clearwater Association of Realtors, Director of the Florida Association of Realtors, Member of FAR Honor Society, Member of Who's Who in Real Estate, and a Member of the Professional Standards Committee. Dave is an excellent problem solver, negotiator, and out-of-the-box thinker when it comes to representing buyers and sellers in the most challenging real estate market in decades. Those who know him, know he has a great sense of humor. Dave enjoys golf, fishing and tennis. Maggie has been a licensed Realtor since 1983 and earned her broker's license in 1991. Prior to partnering with Dave in 1995, Maggie worked as a real estate agent at a small boutique firm where she specialized in outstanding customer service and satisfaction. Maggie loves showing houses and realizes the importance of being patient and really listening to what customers want and need. She enjoys walking, reading, tennis and cooking. Contact Me Visit my Website Send a Referral Subscribe to Newsletter