Doing property tax appeals is so much fun. You never know what'll come across your desk. Yesterday I was looking at comparable sales identified by the County Property Appraiser and researched by my assistant Tiffany. The property in question was a purchase by none other than Clyde McPhatter, Jr.
If you're as young as Tiffany, this name may not mean anything to you. The buyer's father was Clyde McPhatter, one of the greatest R & B singers of the 1950s and '60s. McPhatter founded The Drifters and was inducted into the Rock and Roll Hall of Fame posthumously in 1987. He was even honored on a U.S. postage stamp in 1993.
Anyway, Clyde McPhatter's son and namesake recently purchased two residential properties in Miami-Dade County, Florida. He purchased the two properties July and August of 2006, respectively, paying a total $4.8 million.
Hey, Mr. McPhatter, why don't you have a homestead exemption on either of these two properties? If you need help determining your eligibility for the significant benefits of homestead proprety tax exemption in Florida, contact me!
What follows is what you can find out online about the two properties:
Eastern Shores waterfront property:
07-2210-001-0080
Property: 3320 NE 165 ST
Mailing Address: CLYDE MC PHATTER
3320 NE 165 ST MIAMI FL
33160-3836
Property Information: Primary Zone: 1200 SINGLE FAMILY RESIDENCE
CLUC: 0001 RESIDENTIAL- SINGLE FAMILY
Beds/Baths: 4/4
Floors: 2
Living Units: 1
Adj Sq Footage: 4,972
Lot Size: 9,681 SQ FT
Year Built: 1980
Sale Information: Sale O/R: 24735-2786
Sale Date: 7/2006
Sale Amount: $3,200,000
Assessment Information: Year: 2007
Land Value: $871,290
Building Value: $694,065
Market Value: $1,565,355 $
Assessed Value: $1,565,355 $
Total Exemptions: $0
Taxable Value: $1,565,355
_________________________
Property off Miller Road:
Summary Details: Folio No.: 30-4029-002-0590
Property: 10290 SW 58 ST
Mailing Address: CLYDE MC PHATTER JR
10290 SW 58 ST MIAMI FL
33173-2832
Property Information: Primary Zone: 2300 ESTATE RESIDENTIAL
CLUC: 0001 RESIDENTIAL- SINGLE FAMILY
Beds/Baths: 4/3
Floors: 1
Living Units: 1
Adj Sq Footage: 5,364
Lot Size: 50,094 SQ FT
Year Built: 1982
Sale Information: Sale O/R: 25241-0477
Sale Date: 8/2006
Sale Amount: $1,600,000
Assessment Information: Year: 2007
Land Value: $551,190
Building Value: $618,771
Market Value: $1,169,961
Assessed Value: $1,169,961
Homestead Exemption: $0
Veteran Exemption: $0
Total Exemptions: $0
Taxable Value: $1,169,961
____________________________________________________________________________
Mr. Weiss has represented taxpayers in thousands of administrative tax appeal hearings and has more than 70 published opinions to his credit, including 55 property tax opinions, is co-author of Chapter 64 of the Florida Tax Service
2d, "Agriculture and Other Classified Properties" with Matthew Bender, and a lecturer on property taxation for the National Business Institute.
Saturday, June 21, 2008
Celebrity Property Tax Assessment: Ron Seikaly
Looking for a house with high ceilings? I'll bet this one has 'em. Why would I bet? Its recent purchaser is Ron Seikaly. Ron is 6 feet 11 inches tall and was the first-ever draft pick of the NBA Miami Heat.
Ron was a great center for the Heat and still loves Miami. I saw him at a party recently in Miami Beach. After his tenure with the Heat, Ron played for a couple of other NBA teams and even did a stint in Spain's professional basketball league.
Nowadays, Ron's into professional volleyball. He's still a world-class athlete.
In 2002, Ron bought a waterfront lot on North Bay Road in Miami Beach, nearly 27,000 square feet, well over half an acre. He built his dream home there, over 9,000 square feet of high-ceilinged luxury, completing construction and moving in in 2005.
Here're the specs for those who need more detail:
Summary Details: Folio No.: 02-3227-008-1370
Property: 2060 N BAY RD
Mailing Address: RONALD SEIKALY
2060 N BAY RD MIAMI BEACH FL
33140-4537
Property Information: Primary Zone: 2100 SINGLE FAMILY RESIDENCE
CLUC: 0001 RESIDENTIAL- SINGLE FAMILY
Beds/Baths: 9/10
Floors: 2
Living Units: 1
Adj Sq Footage: 9,363
Lot Size: 26,561 SQ FT
Year Built: 2005
Sale Information: Sale O/R: 20347-2241
Sale Date: 4/2002
Sale Amount: $2,150,000
Assessment Information: Year: 2007
Land Value: $3,919,264
Building Value: $3,819,208
Market Value: $7,738,472
Assessed Value: $6,793,700
Homestead Exemption: $25,000
Total Exemptions: $25,000
Taxable Value: $6,768,700
______________________________________________________________________________
Mr. Weiss has represented taxpayers in thousands of administrative tax appeal hearings and has more than 70 published opinions to his credit, including 55 property tax opinions, is co-author of Chapter 64 of the Florida Tax Service
2d, "Agriculture and Other Classified Properties" with Matthew Bender, and a lecturer on property taxation for the National Business Institute.
Ron was a great center for the Heat and still loves Miami. I saw him at a party recently in Miami Beach. After his tenure with the Heat, Ron played for a couple of other NBA teams and even did a stint in Spain's professional basketball league.
Nowadays, Ron's into professional volleyball. He's still a world-class athlete.
In 2002, Ron bought a waterfront lot on North Bay Road in Miami Beach, nearly 27,000 square feet, well over half an acre. He built his dream home there, over 9,000 square feet of high-ceilinged luxury, completing construction and moving in in 2005.
Here're the specs for those who need more detail:
Summary Details: Folio No.: 02-3227-008-1370
Property: 2060 N BAY RD
Mailing Address: RONALD SEIKALY
2060 N BAY RD MIAMI BEACH FL
33140-4537
Property Information: Primary Zone: 2100 SINGLE FAMILY RESIDENCE
CLUC: 0001 RESIDENTIAL- SINGLE FAMILY
Beds/Baths: 9/10
Floors: 2
Living Units: 1
Adj Sq Footage: 9,363
Lot Size: 26,561 SQ FT
Year Built: 2005
Sale Information: Sale O/R: 20347-2241
Sale Date: 4/2002
Sale Amount: $2,150,000
Assessment Information: Year: 2007
Land Value: $3,919,264
Building Value: $3,819,208
Market Value: $7,738,472
Assessed Value: $6,793,700
Homestead Exemption: $25,000
Total Exemptions: $25,000
Taxable Value: $6,768,700
______________________________________________________________________________
Mr. Weiss has represented taxpayers in thousands of administrative tax appeal hearings and has more than 70 published opinions to his credit, including 55 property tax opinions, is co-author of Chapter 64 of the Florida Tax Service
2d, "Agriculture and Other Classified Properties" with Matthew Bender, and a lecturer on property taxation for the National Business Institute.
Property Tax Appeal Results: The Bottom Line
One of my favorite marketing slogans is the one created by my good friend Mark E. Fried. Mark Fried has been an immigration attorney on Brickell Avenue in Miami for more than 27 years. To emphasize Mark's sensitivity to the human interest aspect of his practice, Mark says, "In my practice, it's not the 'bottom line' that counts; it's the BORDER LINE!"
Well and good. One of the reasons I enjoy my property tax practice--and would never engage in the practice of immigration law or criminal defense (the practice area of my law partner Brian Tannebaum)--is that I'd never want a client's freedom to depend on effectiveness of my representation. So I am happy to say that in my property tax practice, "It's not the BORDER LINE that counts; it's the BOTTOM LINE."
That's what counts for the client anyway. Do I get a kick out of figuring out where the County Property Appraiser went astray and getting a huge reduction and generating a big refund for the taxpayer? You bet. But is the taxpayer excited about my legal theory? Probably not as excited as he is about the big refund.
Here's a case in point. I got a tax assessment on a parking lot parcel reduced for 2007 (the current tax year) from $6,458,800 to $947,298. Yeah, that's right, an 85% reduction. It's not a typo.
The taxpayer's happy. He's the beneficiary of a $100,000 plus property tax refund.
I'm happy because I proved that the Property Appraiser assessed sticks in the bundle of rights already assessed to other parcels, a prohibited form of double taxation.
I was even happier this afternoon when I had confirmed in writing the granting of my post-hearing request to further reduce the assessed valuation by another $100,000. This means the reduction was 87%, not 85%.
So with apologies to my good friend Mark Fried--as fine an immigration attorney as you will ever want to find to address your family's, employees', friends' or corporation's immigration practice needs--I am proud to say that in my property tax appeal practice, "It's not the border line that counts. It's the bottom line."
_______________________________________________________________________________
Mr. Weiss has represented taxpayers in thousands of administrative tax appeal hearings and has more than 70 published opinions to his credit, including 55 property tax opinions, is co-author of Chapter 64 of the Florida Tax Service
2d, "Agriculture and Other Classified Properties" with Matthew Bender, and a lecturer on property taxation for the National Business Institute.
Well and good. One of the reasons I enjoy my property tax practice--and would never engage in the practice of immigration law or criminal defense (the practice area of my law partner Brian Tannebaum)--is that I'd never want a client's freedom to depend on effectiveness of my representation. So I am happy to say that in my property tax practice, "It's not the BORDER LINE that counts; it's the BOTTOM LINE."
That's what counts for the client anyway. Do I get a kick out of figuring out where the County Property Appraiser went astray and getting a huge reduction and generating a big refund for the taxpayer? You bet. But is the taxpayer excited about my legal theory? Probably not as excited as he is about the big refund.
Here's a case in point. I got a tax assessment on a parking lot parcel reduced for 2007 (the current tax year) from $6,458,800 to $947,298. Yeah, that's right, an 85% reduction. It's not a typo.
The taxpayer's happy. He's the beneficiary of a $100,000 plus property tax refund.
I'm happy because I proved that the Property Appraiser assessed sticks in the bundle of rights already assessed to other parcels, a prohibited form of double taxation.
I was even happier this afternoon when I had confirmed in writing the granting of my post-hearing request to further reduce the assessed valuation by another $100,000. This means the reduction was 87%, not 85%.
So with apologies to my good friend Mark Fried--as fine an immigration attorney as you will ever want to find to address your family's, employees', friends' or corporation's immigration practice needs--I am proud to say that in my property tax appeal practice, "It's not the border line that counts. It's the bottom line."
_______________________________________________________________________________
Mr. Weiss has represented taxpayers in thousands of administrative tax appeal hearings and has more than 70 published opinions to his credit, including 55 property tax opinions, is co-author of Chapter 64 of the Florida Tax Service
2d, "Agriculture and Other Classified Properties" with Matthew Bender, and a lecturer on property taxation for the National Business Institute.
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