Palm Beach County property owners should make sure they check their mail for an important piece of paper that will let them know if they will be paying more in property taxes this year than last year.
The Palm Beach County Property Appraiser mailed out annual Truth in Millage notices on Aug. 20. Commonly known as TRIM notices, the documents provide estimates of one's proposed property taxes based on the property’s value and the proposed tax rates.
TRIM notices contain preliminary estimates that could change depending on the outcome of budget hearings conducted by county government, cities and other taxing authorities.
It contains information concerning:
- Market and assessed value as of Jan. 1, 2026. Market value is often higher than assessed value if a property owner has obtained either tax exemptions or tax breaks.
- Tax breaks that are extended to certain senior citizens, veterans and year-round residents whose homes are homesteaded.
- Millage or tax rates proposed by local taxing authorities such as the county, school district, or municipality. The rate is applied per $1,000 of assessed value.
In some
cases, a property owner could wind up paying more in property taxes even though the market value of their property fell.
It is all due to a little-known provision in a state law that requires property appraisers to “recapture” money lost when values surge, as they did in 2021 and 2022.
The state’s cap on homesteaded properties, though, limits taxable value increases to 3% or the Consumer Price Index increase, whichever is less. And when values either level off or even decline, the recapture provision comes into play, resulting in assessed values increasing by up to about 3%, even when market values show little or no increase.
A property owner who disagrees with the estimated market value can contact the Property Appraiser's Office for an informal review.
If the issue is not resolved, the property owner can appeal to the Value Adjustment Board. For more information, call 561-355-6289.
Mike Diamond is a journalist atThe Palm Beach Post, part of the USA TODAY Florida Network. He covers Palm Beach County government. You can reach him at mdiamond@pbpost.com. Help support local journalism. Subscribe today.
This article originally appeared on Palm Beach Post: Palm Beach County homeowners get first look at 2026 tax bills
