Appraisers Want Taxes To Show Loss From Oil Spill
June 25th, 2010
Florida property appraisers wrote a letter to Gov. Charlie Crist requesting lower property taxes to homeowners affected by the Gulf oil spill.
Appraisers want taxes to show loss from oil spill
Escambia County Property Appraiser Chris Jones and his counterpart in Santa Rosa County, Greg Brown, are seeking lower property taxes this year for coastal residents whose property values fall because of the oil spill.
In a letter on Thursday, they asked Gov. Charlie Crist to sign an executive order to allow decreased property values to be reflected this year instead of next.
"The potential impact of this incident could be staggering," they wrote.
Property values are based on the values set by the county property appraisers Jan. 1 of each year. Because the oil was not an issue in January, the values will not reflect the effects of the oil until January 2011.
"If you conclude an executive order is not the proper manner for granting such relief, we ask that you call for a special legislative session," the letter reads. "The spill also is likely to impact other counties as the oil spreads."
The precedent for the immediate relief was set after the 2004 hurricane season, Jones said.
"They did something similar then that was done retroactively back to give relief in that tax year," he said. "We ask that the citizens not be held responsible for the change in value. We are asking for that to be passed on to BP."
The letter says commercial properties along the coast are bought and sold primarily based on their ability to produce income.
"When the oil hits the beaches, cancellations will ensue and an income drop is inevitable," it says. "We have already seen a drop in reservations just due to the spill itself. However, when it comes ashore, it will have a devastating effect on commercial property values along the coast."
Residential properties along the coast are some of the hardest hit by the recession and the hurricanes of 2004 and 2005, and owners also are struggling with the high cost if insurance, the letter says.
"When the oil comes ashore, these properties will suffer yet another financial blow," it says.
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