All 2012 Value Adjustment Board petitions have been filed with the county. While we look forward to saving our new clients lots of money in the coming months, we are still in the middle of 2011 cases.
In the meantime please pay your 2012 Tax Bill when it arrives. You may notice that because you have filed a VAB petition you have the option of paying only 75% of the total bill as a “good-faith” payment. DO NOT DO THIS! You should pay 100% of your tax bill as shown on the Property Appraisers/Tax Collectors Website.
This is because if we are unable to get you more than a 25% tax reduction, you will be responsible for the difference PLUS interest which starts accruing in May. Seeing as most appeals do NOT result in savings of more than 25% and occur nearly 6-12 after May we STRONGLY advise against paying only 75% of the bill.
Furthermore, if our understanding of the law is correct, if you pay the 100% amount, and the VAB does reduce the value, then you will be entitled to not only the base refund (original minus the revised tax amount) but you will also receive interest which accrues at 12% per year.
For those interested they can read the statute online here.