Taxes: 7 Items on Your TRIM Notice Explained

By Lindsay Nock | August 20, 2019

“Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” – Benjamin Franklin, 1789

It is that time of year again. Residents will begin receiving their TRIM notices in the mail this week. This is a quick guide on how to better understand your tax bill.

Overview: In 1980, the Florida Legislature passed the “Truth In Millage” (TRIM) law. The law is designed to inform you of your rights as a taxpayer. The Property  office mails TRIM Notices to every property owner of record each year in mid-August. To protect your rights as a taxpayer, the TRIM Notice tells you:

  1. The proposed market value and assessed value of your property this year as compared to last year;
  2. Tax-saving exemptions, if any, on your property this year and last year; and
  3. The tax amounts and special fees proposed by each of your various taxing authorities (School Board, County Commission, City Commission, etc.); a comparison of the proposed new taxes versus last year’s taxes; and the locations and dates of the public hearings where you can voice your views on the proposed rates.

*If you believe the proposed TAXES are too high you can exercise your rights as a citizen by speaking out. Attend the public hearings listed on the TRIM Notice. Let your elected officials hear from you!

7 Items on Your TRIM Notice Explained:

  1. Account # – unique number identifying your property.
  2. Taxing Authorities – government bodies authorized to levy taxes on the property (school board, county, municipalities, etc.)
  3. Market Value – the property appraiser’s determination of the value as of January 1st. (the selling price of comparable properties + income derived from the property + the replacement cost of improvements + location/condition)
  4. Taxable value – is assessed value minus your exemptions. The taxable value is multiplied by the tax rate set by each of the governing authorities to establish your ad valorem property tax bill.
    • *The Ad Valorem tax roll consists of real estate taxes and tangible personal property taxes and railroad. Non–Ad Valorem assessments are primarily assessments for paving services, storm water and solid waste collection and disposal.
  5. Assessment Reductions – benefits and use classifications which result in additional savings on your tax bill. The amount reflects the difference between market and assessed value.
  6. Exemptions – are shown for the current and prior tax years. If you are missing an exemption for which you applied, contact the county immediately. Exemptions include homestead, limited income senior, first responders, veterans, etc.
  7. Tax “Bill” – Trim notices sent mid-August. Tax bills are mailed in November by the Tax Collector’s office.

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