Jerry101, Home Buyer in Outside U.S.

Do I have to pay higher property tax because of rental property?

Asked by Jerry101, Outside U.S. Sat Jan 29, 2011

If i buy a condo and rent it out in New Tampa, but this condo was occupied by its homeowner, and not rent out before, in this case, do I have to pay higher property tax compared to what the homeowner paid?

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Property taxes come with a lot of exemptions. The primary one in Florida is the Homestead Exemption. You would not be able to deduct the exemption from the value of the property if it is not your primary residence.

Income prodicung property can not be your primary residence.

You should contact the property appraiser in Hillsborough County and find out about the particulars directly from them.
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1 vote Thank Flag Link Sat Jan 29, 2011
You will not be paying higher property taxes because you will be using your property for a rental, but because the legislators in Florida and many other states decided that permanent residents should get an exemption on a portion of the full assessment or tax amount. Most states have a homestead exemption program similar to Florida. The only exception that I know of personally is Virginia. At the present time there is no homestead exemption in Virginia but the legislature reconsiders it every few years.
0 votes Thank Flag Link Sun Jan 30, 2011
Hi Jerry,

Also you need to verify the Community Development District Taxes. Many communities in New Tampa have high "non advalorem" CDD taxes. You can pull up the address on: and find the exact amount of the CDD (if any). Hunter's Green and Cross Creek and some older areas of Tampa Palms do not pay CDD taxes but the majority of the other communities in New Tampa do pay CDD taxes.

Your Realtor can help you gather this information.

All the best,
0 votes Thank Flag Link Sun Jan 30, 2011
Most likely. You get a homestead exemption if you live there. Real estate investors usually don't get a break.
0 votes Thank Flag Link Sat Jan 29, 2011
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