In his latest newsletter, Marty Kiar clarifies that the Property Appraiser’s Office does not set your tax rates, collect property taxes, or determine how the tax revenue is allocated by local government. Florida law requires his office to assess all property based on the market data on January 1 of each year. The tax bill you receive this November from the Broward County Tax Collector is for the 2022 tax year. If you purchased your home in 2022 and the previous owners of your new home were entitled to and received Homestead Exemption or any other exemption on January 1, 2022, you may have inherited their exemptions on your 2022 property tax bill. Florida Statutes require these 2022 exemptions be removed for 2023 and the property be reassessed at the 2023 Just/Market Value. This will often result in an increase in your 2023 property taxes so it is important you apply for 2023 Homestead Exemption and any other exemptions for which you may qualify. If you have any questions regarding your Homestead Exemption or other tax-saving exemptions, please contact the Customer Service Department at 954.357.6830.
The newsletter goes on to discuss escrow adjustments based on your 2022 tax bill and you can pay your taxes through a quarterly installment plan offered by Broward County, where the newly approved 2022 exemptions will be applied to the 3rd and 4th installment payments.
