Hi Alan,

Don't know your definiton of severe, but yes it's true that for years the property tax system in Florida was set up so that new owners paid a disproportionately higher share of taxes compared to folks who had been in their homes for many years. Nothing to do with being a foreigner, everything to do with let's get the new comers to pay for all this growth and subsidise our services. Being a relative new comer myself (4 years now), I too found the system grossly unfair.

There have been changes made to the law which limit the increase on non homestead properties, so this problem will not be as big in the future, but it will still exist.

HOWEVER, the huge disparity arose because property values increased by such incredible amounts in 2004 and 2005. The entrenched owners had their tax increase limited to 3%, but new comers saw 25% or more increases. NOW that values have plumeted, we are seeing the opposite occur. Long time owners are still seeing their taxes go up 3%, but new comers are seeing huge decreases. I loved opening my tax notices this year. My properties are being taxed hundreds or thousands lower than last year and the starting value of my homestead is way too good to be true.

Now is a great time (if not the perfect time) to be buying a home in Florida. You will lock in a depressed base value on your homestead that can not increase more than 3% per year in the future.

You know what they say about what goes around comes around. New comers, it's your time now.

Regards,
Mark LeMenager
Weichert, Realtors - Hallmark Properties

I would very much like to hear back from you as I answered your question already and have not had a reply back. When will you be in Florida and what part of Florida are you interested in--I specialize in 5 specific counties. Thank you,. e-mail relocateisapieceofcake@gmail.com

You have gotten some great advice her already Alan, I would just like to add...

Taxes in the Pasco County area of Florida, which includes New Port Richey, typically range from 1.5%-2.5% of the County Tax assessors assessed value of your property. Values have dropped like a rock around here. This is not to be considered a quote but a point in the right direction to budget your purchase. There is more of a concern for most people with Insurance down here. $300,000 house on the water, and in the wind flood zone, but not built on stilts, or to the latest hurricane codes can be very expensive. I have a client in Hudson whose 1972 built ranch home ($300k) costs him $12,000/year in Insurance and Taxes. HIs taxes are in the 1.5% range so that is ~$4500 of the total. The rest is wind/flood/Homeowners Insurance.


you can see market reports for West Pasco at my blog below

Living in Tucson, Arizona, I'm not familiar with Florida property tax rules. However, I believe the only problem you will run into is when you decide to sell your home and are still a foreign individual. At that time, the Foreign Investment in Real Property Act (FIRPTA) kicks in and a 10% withholding tax on the purchase price kicks in to the IRS.
Alan, no matter where you and your family decide to move, welcome. If Tucson may be your choice, I would be happy to help. No matter where it is, once you get settled in, let me know and I will be happy to mail you a copy of the Declaration of Independence and Constitution of the United States.

I don't think you realze that homes are so low in price right now, you won't make an offer till I check the taxes for you anyway. The low prices will more than make up for any fees, taxes and we can check to see how to do everything so you are not treated unfairly. When will you be in Florida?
You may e-mail me without being on a message board to my e-mail below.
E-mail relocateisapieceofcake@gmail.com
web reference: http://www.monikadepalo.adamscameron.com (cut and paste)

Hello Alan,

I hope you are having a great start to your work week.
I think you are refering to the yearly property taxes. The taxes would be the same for any foreign national as they would be for someone that lives in another state in the US and owns property here. So, it is not just that you live out of the country. Or someone that hasn't filed for the homestead exemption. This can only be on one property. If they own more than one, they can only have the exemption on thier primary residence.

People that live in Florida year round can file for a homestead exemption which allows them a discount on the value of their home, which means they pay less tax.
Here is a link that descibes it better for Polk County - Davenport, Winter Haven, etc.
http://www.polkpa.org/AssessmentInfo/Exemption.pdf
Osceola County - Kissimmee, etc
http://www.property-appraiser.org/index.cfm?lsFuses=departme…
Orange County - Orlando, etc.
http://www.ocpafl.org/exemptions/hxbro.html

I hope this gives you a better understanding.
If i can be of service, please feel free to contact me.

Kind Regards,

Jackie Fortier
Cinderella Realty

Not at all....this is a common misunderstanding. Your taxes would be the same as a US citizen. The same rules of ownership would apply to you that apply to buyer from the US.

This misunderstanding is probably based on the older version of our Homestead Law that allowed the government to raise taxes annually any amount they chose. This has now changed and a ceiling for the amount taxes can increase annually has been implemented.

We have dealt with many satisfied Canadian buyers mainly from Toronto, Ottowa, London, and N.S. We would be happy to put you in contact with them to find out about their experience.

Cheers,
The Eckler Team
Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363