Zellwood Station Center Property

In 2023 we advised the residents that Orange County had increased the property value of the center property from $2,270,620 to $10,321,000. The new established property tax for the center property is $85,000. Since 2012 (purchase year) the average was $30,000. In 2023 the Board of Directors agreed to file a formal complaint with the Orange County Value Adjustment Board for a new valuation of the property. Our goal was to ask the Magistrate to give us a tax exempt status (Common Property). In January the issue was brought before the Adjustment Board for review. The Board hired Becker law and an Assessment Expert to handle our case. Recently we received the Magistrate's decision to reduce our property value to $2,229,336 which decreased our 2023 property value by $41,284. This decision is estimated to saves us $55,000 (tax) annually. Although we did not get the tax exempt status we were wishing for we consider this a huge success and future cost savings. The Magistrate's decision will be filed with Orange County in April. As taxes are due by end of February we will be forced to pay the $85,000. After the Decision is filed we will be reimbursed by Orange County for the difference in the improper tax assessment.