Home Buying in Palm Coast>Question Details

Charlotte, Home Buyer in Daytona Beach, FL

Buying after January 1 (property tax question)

Asked by Charlotte, Daytona Beach, FL Tue Sep 9, 2008

What could happen if I don't purchase my home before January 1, 2009, and have to wait until 2010 to apply for homestead? I don't really understand the process or ramifications as I have never owned a home before.
Is it that my property taxes could go up if my home value increases when the appraiser asseses my property the following year?

Help the community by answering this question:


Properlty taxes are paid in Arrears. The 2008 Property taxes will be due by April 1 2009. If you purchase a home in Jannuary 2009 that was homesteaded at the time you purchased it nothing really happens on your 2009 property taxes , you will be allowed to benefit from the previous owners homestead for 2009. You will file forl your own homestead during 2009 to become effective 210. If the home is not homesteaded it usually means you will have to pay and additional $35.00 to $50.00 a month in property taxes until you can homestead.

If you buy new construction and the home was not substantally complete on 01/2009. you will pay property taxes on unemporved properlty for 2009.

Property taxes will be based on the purchase price you paid. If you paid more than the previous owner, your property taxes should be more that the previous owners taxes.

Once you file homestead your property taxes will be limited to a moderate 3% a year increase

If your home is homesteaded by the previous owner, the homestead will pass to you until you file for your own.
Web Reference: http://www.cathysloan.com
1 vote Thank Flag Link Tue Sep 9, 2008


Apparently New Hampshire property taxes are assessed and collected differently than Florida

In Florida property taxes are paid in arrears. The new property tax assessment and Property tax bill for the current year is received in November 2009 Tax is due March 30. 2010. You receive a 4% discount if you pay in November when the bill is received. The discount reduces to 3% paid in Dec, 2% paid in Jan, 1% paid in Feb, 0% if paid in Mar 2010

0 votes Thank Flag Link Sun Sep 14, 2008
Homes are not assessed yearly, the state of Florida mandates how often each town has to reassess. So when your home is reassessed so are all the others so the values will increase/decrease as a whole. Bill said it all about homestead so yes check that website for details. As far paying your property taxes most are paid twice a year in dec and june. the dec bill is for 3 months back and 3 months ahead and same thing in june. when you close the tax is prorated anyway, so you only pay for the time you own it, goo dluck with your purchase Charlotte
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Sep 10, 2008

Congratulations on your decision to move forward and purchase in Florida.

Please check out the attached website that is packed with "Homestead Exemption" information. I know it will be helpful.


Good luck,
The "Eckler Team"
0 votes Thank Flag Link Wed Sep 10, 2008
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