Page 10 - Hobe Sound Reflections - October '23
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Page 10, Hobe Sound

                                              loCal GoverNMeNt

      Martin County Property                             refund of property taxes in                          The property appraiser will consider the condition of the
                                                         the year following the event.
      Appraiser                                          Calamity occurs when your                         property as of Jan. 1 after the event and any remaining damage
                                                                                                           will be taken into account for the next year’s value.
                                                         home is physically damaged or                        Any changes, additions or improvements, commenced within
      By Jenny Fields, CFA, Martin County Property Appraiser,  destroyed by an event beyond                three years that replace all or a portion of the property that was
      3473 S.E. Willoughby Blvd.,                        your control. Events such                         damaged or destroyed may not increase your assessed value.
      Suite No. 101,                                     as fire or hurricanes would                       How Does A Calamity Affect My Property Taxes?
      Stuart, FL 34994                                   qualify as calamity. However,                        When a calamity occurs on residential improvements that
      (772) 288-5608                 it is the responsibility of                       are rendered uninhabitable for at least 30 days, the property
                                                         the  homeowner  to  notify                        owner may request a refund of taxes for the portion of the year in
      Calamity                                           the Office of the Property                        which the home was deemed uninhabitable. This does not include
                                                         Appraiser of the damage or                        structures that are not essential to the use and occupancy of the
         Recent legislation was passed stating that any calamity or   destruction as soon as possible.     residential dwelling, such as detached garage, pool, or land.
      misfortune that occurs after Jan. 1, that causes your home to be                                        An application needs to be filed with the property appraiser by
      deemed uninhabitable allows you to be eligible for a prorated   Property Damage                      March 1 of the year following the event. The property appraiser
                                                                                                           may request additional supporting documentation to determine
             FiNaNCial                                   Information                                       whether the applicant is entitled to a refund. If entitled, the
                                                                                                           property appraiser must issue an official written statement to
                                                         What Is A Calamity?
                                                           A calamity occurs when your home is physically damaged
                                                           or destroyed by an event beyond your control. This applies to   the tax collector within 30 days after the determination, but no
                                                                                                           later than April 1. The tax collector shall calculate the damage
                                                                                                           differential pursuant to Florida Statute 197.319 and process a
                  FoCus                ®                 both homesteaded and nonhomesteaded property. This does not   refund in an amount equal to the catastrophic event refund.
                                                         include damage caused directly or indirectly by the property
                                                         owner with the intent to damage or destroy the improvement.     Certain restrictions apply for all
                                                         How Does A Calamity Affect My Property Value?     scenarios, so please visit the Property
        Should You Be “Selfish” In                         property owner to notify the Office of the Property Appraiser as   Damage Information page, under the
                                                           When a calamity occurs, it is the responsibility of the
                                                                                                           “Tool & Resources” section of our website
        Retirement?                                      soon as possible. Any change in value as a result of the calamity   at to learn more.
                                                         will be reflected in the following tax roll year.
        By Sally Sima Stahl
           As a parent, you
        naturally want to help your
        children – but is it always                                                                                   EVERY SUNDAY
        a good idea to provide                                                                                    9AM-2PM
        them with support when
        they’re adults? You may
        want to proceed carefully                                                                                 FLAGLER PARK
        in this area – to protect
        everyone’s financial
        interests.                                                                                                    •FRESH PRODUCE
           This topic is on the
        minds of many people: 63 percent of retirees and 69 percent                                                       •LIVE MUSIC
        of preretirees have either limited their financial support to                                               •MOBILE CRAFT BAR
        adult children or other family members, or would limit this
        support, to preserve their own financial stability and avoid                                                    •KIDS MARKET
        becoming a burden, according to a recent survey by Age    Operated by Stuart Main Street                    (First & third Sunday of every month)
        Wave and Edward Jones.
           So, as this finding indicates, it isn’t that preretirees and
        retirees are being “selfish” when they’re cautious about   Fresh Local Produce & Honey
        providing financial assistance – their goal is to maintain   Organic Eggs, Beef, Seafood & Poultry
        their financial independence, so they never have to depend
        on their family members for help. And anyone can agree      Household Plants & Florals
        that this is a worthy objective.                               Homemade Cheeses
           In any case, the amount of support you can reasonably         Spices & Sauces
        offer will depend on several factors, including your monthly   Freshly Baked Breads & Tasty Treats
        income, your expenses, your savings and your projected      Pottery, Art & Home Décor
        future expenditures. By taking these figures into account,
        you should be able to develop a good estimate of what you   Handcrafted Jewelry & Accessories
        can – and can’t – do for your adult children.                        Pet Items                                                  BE A PART OF
           But if you do decide that you can afford to provide some                                                                      SOMETHING
        financial resources, at least on occasion, you may want to   A market for growers, crafters, artists & other creators                FRESH!
        be strategic about it. In other words, how can you do the
        most good?
                                                                      772-285-0502 |
        Financial Focus  on page 11                                   Stuart Main Street is a 501c3 non-profit focused on promoting the Historic Downtown.
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