You have been hearing about property taxes and millages for several months now and your time of waiting may be over.
Levy County Property Appraiser Oz Osborne said his office will mail out on Thursday, Aug. 22, the TRIM notices for the 47,000 parcels that are taxed in Levy County. TRIM means Truth In Millage and the information in the notice is pretty much the cold, hard truth about proposed property taxes for 2013.
Property owners should keep in mind that these are proposed taxes, and likely as not, the millage they will see on their bills in November from Levy County Tax Collector Linda Fugate can be lower.
Under state law, the tentative millage set by the various government entities cannot go higher, only lower by the Sept. 30 deadline for approving property tax levels and budgets.
By the way, a mill, a thousandth of $1 is equal to $1 per $1,000 of a property’s assessed value. The assessed value is determined on a property’s fair market value, minus exemptions and other considerations, such as the “Save Our Homes” constitutional amendment which limits increases in the assessed value to a maximum of 3 percent per year or the increase in the Consumer Price Index, if lower.