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Erroneous Interest Must Be Repaid

by Tony Garcia, Fort Lauderdale, February 2015

 

Thousands of property owners in Miami-Dade, Florida were mistakenly issued interest with their property tax refunds from 2012 appeals. Now the county wants the money back.

 

Not An Official VAB Action

 

Many appeals were settled by property owners and the property appraiser prior to their pending Value Adjustment Board (VAB) hearings. These settlements were not an official VAB action. So interest should not have been paid.

 

A recent audit uncovered the discrepancy. The Miami-Dade Finance Department sent letters in mid-January to the taxpayers affected.

 

Interest Repayment is Now Due

 

Property owners who received notification about erroneous interest must repay the county in a timely manner. The full amount must be received within 45 days from the date of the notice.