How will the oil spill affect my 2010 property tax assessment?
Unfortunately, your 2010 taxes will be based on the value of your property as of January 1, 2010, prior to the explosion on the Deepwater Horizon and the subsequent oil spill. Thus, it is unlikely that Floridians will see any reduction of their 2010 assessments as a result of the oil spill until at least 2011. Some eager class action lawyers have jumped the gun a bit by filing a class action lawsuit against the Property Appraisers of all affected counties, seeking an order requiring them to consider the effects of the oil spill in calculating the 2011 assessments. However, since the Property Appraisers are already required by state law to consider any pretty much any conditions that affect the fair market value of a property, that lawsuit would appear to be a bit premature, to put it nicely.