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In this episode of The Insider’s Guide to Custom Homes, Rick Bell interviews Chris Bates, a property tax expert, to shed light on one of the least understood but most impactful aspects of owning a luxury custom home: property taxes.
Chris explains how tax assessments are determined, the common pitfalls homeowners face, and the strategies high-net-worth families can use to manage their property tax liabilities effectively. He shares stories from his work representing clients and highlights what builders and homeowners alike should know to avoid costly surprises.
This episode is a must-listen for anyone preparing to build or purchase a luxury home, as well as professionals who want a deeper understanding of how property taxes intersect with construction and ownership.
What You’ll Learn
• Chris’s background and how he became an expert in property tax consulting.
• How property taxes are assessed on new custom homes and what can trigger reassessments.
• Common mistakes homeowners make when it comes to tax planning.
• Strategies to appeal assessments and reduce property tax burdens.
• The relationship between appraisers, municipalities, and property owners.
• Real-world examples of property tax disputes and resolutions.
• Chris’s advice for homeowners building multi-million-dollar estates.
Glossary of Terms:
Assessed Value: The value assigned to a property by a local tax authority for the purpose of calculating property taxes.
Millage Rate: The tax rate applied to the assessed value, expressed in mills (one mill = $1 per $1,000 of assessed value).
Homestead Exemption: A legal provision that reduces the taxable value of a primary residence.
Tax Appeal: The process of formally contesting a property’s assessed value.
Comparable Sales (Comps): Recent home sales used to determine market value during assessments or appeals.
Resources & Links
Landmark Custom Homes – https://www.homesbylandmark.com
The Insider’s Guide to Custom Homes – https://TIGTCH.com
Email Rick – [email protected]
LinkedIn: Rick Bell – https://www.linkedin.com/in/rick-bell-lch/
Instagram: @homesbylandmark – https://www.instagram.com/homesbylandmark/
Chris Bates – Website – https://myfloridapropertytaxes.com
Email Chris Bates – [email protected]
18 episodes
