Are the Property Appraisers required to make a reduction to properties affected by the oil spill?
While the Property Appraisers are required to assess all property at its fair market value as of January 1st, there is currently no specific requirement that they make a specified percentage reduction to assessments of property affected by the oil spill. That said, last year the legislature passed a statute providing for special tax treatment for property affected by defective drywall. Thus, it is always possible that we will see similar legislation for properties affected by the oil spill.
