Property drops won’t cut tax bills

Homeowners could see property tax hikes in Florida despite Governor Charlie Crist’s 2007 promise that bills would plummet after his legislation. State taxes may be declining, but local ones are rising as towns and cities struggle to cover basic costs amid budgetary meltdowns. The 1992 Save Our Homes amendment kept many property owners from getting frequent hikes, but now they are among the most vulnerable to hikes. For example, in Palm Beach County, if a homesteaded property’s market value remains higher than the assessed value, Property Appraiser Gary Nikolits is required to increase the assessed value.