IRMA MARQUEZ: Broward County: The new 2009 estimated assessments are NOW online. Curious about your property value? Check it out: http://bit.ly/XssuQ7:14 PM May 28th from bit.ly
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On May 28, 2009, Irma Marquez, one of EWM’s top Weston Town Center’s real estate agents, tweeted about checking out your property values. I caught the tweet in my friends’ feed on Facebook.com.
I accessed my tax record on BCPA.net for both properties — my personal residence and my investment property. I was shocked to find how the values had declined and how the property taxes had been reduced.
Since I escrow my taxes and insurance, I decided to write the following letter to my mortgage companies (the numbers were reflective of the properties respectively):
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Date: June 10, 2009
(To Mortgage Company)
Reference: Subject Property; Subject Loan Number
As you know, you are taking $335.68 a month for taxes and insurance on the above-referenced property. The taxes were based on taxes paid last year of $4,196.02 based on the assessed value of $195,660.
Recently, Broward County has reassessed our properties since we are in a declining market. The assessed value is now $133,040, as evidenced by the BCPA.net printout dated 6/1/2009. As you can see, the value has decreased approximately 34%. $133,040 times the millage rate (chart #0513) of 20.8884 would put my taxes at around $2,778.99. I have also attached the millage rate chart for your perusal.
Please note these adjustments accordingly and reassess my escrow account immediately. I understand that a cushion must be maintained; however, I believe that my monthly escrow could be reduced which would reduce my monthly mortgage payment.
Please govern yourselves accordingly.
VTY – Karen Bargery Ross
Enclosures (1) BCPA Printout; (2) Millage Rate Chart; and (3) Current Statement for Reference
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On June 22, 2009, the subject mortgage company of my investment property advised me by letter that they were completing an escrow analysis and that I would hear from them forthwith. Shortly thereafter, I received my escrow analysis printout with a statement that I was entitled to a $1,040.99 refund from the surplus. As an added bonus to the check that I received, my next statement reflected a reduction in my monthly payment.
I am still awaiting a response and refund from my home mortgage. The company wrote me two letters that they were “working on it.”
Even though I would have received a surplus at year’s end, it was a nice pick-me-up to receive the refund and reduction at this time.
Thank you, Irma, for your timely tweet. This is just one more reason that the EWM agents are on top of their game — and Irma Marquez is certainly an asset to her profession and to our Weston EWM office!