Last month, local counties mailed out their 2014 Notices of Proposed Property Taxes, also called the “Truth in Millage” (TRIM) Notices.
These estimates give the best information looking forward for tax rates proposed by the taxing authorities, property values and exemptions that may apply. The notice outlines just market, assessed, and taxable values and any exemptions that have applied to the property of January 1, 2014.
If you have a listing, or especially a property under contract, make sure to have your sellers send a copy to Watson Title Services of N FL Inc., so we can add it to their file.
By doing this, we will be able to provide more accurate figures to prorate on draft settlement statements and amounts we should collect and hold if lenders require us to escrow any funds.
By having the most accurate figures possible, there will be fewer surprises for all parties involved in the transaction and can help avoid those situations when after the closing, the actual figures turn out to be significantly different from what was outlined in the settlement statement.
You can get a PDF of this title tip here.
My Agent Greg 