If your property has a Homestead Exemption, it is possible that Market Value and Assessed Value can be different due to the Save Our Homes assessment limitation. Both values must be calculated and maintained because the Market Value of your property may increase at a greater rate than the Assessed Value. If you feel that the Market Value appearing on your TRIM notice is incorrect, you should contact the Property Appraiser's Office to speak with an appraiser. It is the duty of the Property Appraiser to determine fair, accurate and equitable assessments for all property owners in Hernando County. If you have evidence that the Market Value of your property is less than what we have estimated, we welcome the opportunity to review all the relevant data.
Petitions are available at either of our offices.
Petitions must be filed with the Clerk of the Value Adjustment Board. Filing instructions are attached to each petition. The last date in which to file a VAB petition is highlighted in yellow at the bottom of your TRIM notice. The VAB members may hear the petitions themselves. However, more often, due to the complexity of the petitions, they elect to appoint Special Masters who are qualified real estate appraisers, personal property appraisers and attorneys.