Home Buying in 32819>Question Details

Elle Smith, Home Buyer in Outside U.S.

Florida property taxes: homestead exemption vs property taxes on listing?

Asked by Elle Smith, Outside U.S. Fri Sep 3, 2010

Are the quoted taxes on the listing what a non resident pays or are they the homestead exeption amount? Thanks in advance for any info.

Help the community by answering this question:


Elle, if the information is from the MLS, then it will clearly indicate wether or not the property is a homestead. If the property is a long time homestead, then your taxes will likely be significantly higher. If it has only been a homestead for a couple years, then in the current market, you taxes could go either up of down. If is is not a homestead then as things stand currently they will probably go down.

HOWEVER, your are asking this question in September and the proposed taxes for 2010 are available and you can see the exact impact of the homestead, if any. Just go to the County Tax appraiser's website for the County you are interested in.

Good luck,
Mark LeMenager
Find your next house with the click of a mouse.
Search the MLS without obligation or registration from my website.
1 vote Thank Flag Link Mon Sep 6, 2010
Hi Elle,
What your seeing in the MLS is auto populated from the Orange County Property appraisers site. No this is not what you pay. I have attached the Tax Estimater from the Orange County Property appraisers site. When I spoke to Orange county on the accuracy of this estimator they told me "Pretty darn accurate", good enough for me. Just enter the info, and you'll have your estimate.

Hope this has helped, have a great day,
Wendy Golding
Asset One Realty, Inc
Web Reference: http://www.scottnwendy.com
1 vote Thank Flag Link Sat Sep 4, 2010
Taxes listed are the amount that was billed to the current owner. It may or may not include a Homestead Exemption. If it was a second home or investment property it would not have been eligible for Homestead Exemption. When you purchase a home taxes are pro-rated since they are paid in advance. The following year taxes would be based on the purchase price you pay for the house. The.best way to determine an estimated tax on a property is to divide the purchase price by $1000 then multiply that by the millage rate (this varies depending on location of property.). Example: You would take $230,000 divided by 1000 = 230 x $21.17 = $4869 annual taxes before exemptions.
0 votes Thank Flag Link Thu Feb 10, 2011
they are what the current owner is paying. May or may not include homestead. If there is homestead, they also most likely reflect the Save our Homes savings. Our property appraiser has a tax estimator on his site which is very helpful.
0 votes Thank Flag Link Thu Feb 10, 2011
Like Reagan said Trust but Verify
0 votes Thank Flag Link Thu Feb 10, 2011
Hey there Elle,

Here is the best answer to your question...

Every person who holds legal or equitable title to real property, maintains it as his/her permanent residence, and is a legal resident of Florida as of January 1, of any year, can qualify for the exemption for that year.

A homestead exemption is most often only on a fixed monetary amount, such as the first 50,000 dollars of the assessed value. The remainder is taxed at the normal rate. In this case, a home valued at 150,000 would then only be taxed on 100,000; a home valued at 75,000 would only be taxed on 25,000.

What you see on the MLS could convey an amount that has qualified for Homestead. Best way to check is by looking at the tax records. It will break it down for you.

Tony Galarza, realtor
KG Realtor Group
0 votes Thank Flag Link Thu Feb 10, 2011
they are what the current owner is paying. Homestead may or may not figure into the amount depending on if the home was the primary residence of the seller. Our property appraiser's site gives buyers a way to estimate their taxes. As your Realtor is your county's property appraiser has a similar site.
0 votes Thank Flag Link Tue Sep 28, 2010
The taxes on the listing only indicate what the present homeowner is paying. It has NOTHING to do with the new buyer. The new taxes will be based on the sale price and millage rate at the time of sale along with the exemptions or adjustments of the buyer. Non residents generally pay full tax with no exemptions. The easiest way to estimate taxes is to divide the List Price by 1000 and then multiply that by the millage rate. It will give you an "estimate" of what the taxes before exemptions, will be. LP: $155,000 divided by 1000 = 155 then take 155 times $21.37 (whatever the millage rate for that property is) . In this case estimated taxes would be $3,312.35.
0 votes Thank Flag Link Sun Sep 26, 2010
The taxes posted on a listing, in Naples Florida, reflect the current taxes for that property; a search of publiic records shows if the property has been homesteaded. If they have and the new buyer is not a resident the homestead amount would be added back onto the total. The taxes on the listing may not reflect the taxes a new buyer may pay whether resident or non-resident at closing but will be a fair representation.

Agnes Tabor, REALTOR
239 564-0384
0 votes Thank Flag Link Sat Sep 25, 2010
This is such a good question and a topic which we address with every buyer we work with. I did a blog on this topic:
Hope this helps.

Debbie Albert, PA
Coldwell Banker Residential
Web Reference: http://www.ronanddebbie.net
0 votes Thank Flag Link Sat Sep 11, 2010
The MLS listings in Florida should designate whether the taxes include homestead or not. Usually you won't find this info on internet search sites like Realtor.com. What city are you looking into?

Phyllis Crosby, Realtor
ReMax Top Notch Associates
Tampa Bay Florida


0 votes Thank Flag Link Fri Sep 10, 2010
The quoted taxes on a listing are the current taxes on the property. Nothing else is known. The best estimate of your taxes will be take the purchase price and figure 2% of that amount. It will be a good ballpark, not guaranteed to be exact.

Debbie Albert, PA
Coldwell Banker Residential
Web Reference: http://www.ronanddebbie.net
0 votes Thank Flag Link Mon Sep 6, 2010
The quoted taxes on a listing have nothing to do with the taxes you would pay. There are too many variables such as the old 3% max increase for primary residents -vs- vacation property or investment property would have very different taxes that are currently being paid.

The best bet in our area is to figure 2% of the purchase price of the property (a good ballpark amount) to begin with and then visit the property appraiser site to see which if any exemptions that you would add.

Debbie Albert, PA
Coldwell Banker Residential
Web Reference: http://www.ronanddebbie.net
0 votes Thank Flag Link Sat Sep 4, 2010
Hello Elle, The taxes are not normally listed on the listing--you have to go to the county tax appraiser site to see what the current taxes are. The new taxes wil be computed on the new sale price of the home and also will change according to whether or not you are purchasing as a primary residence and are entitled to homestead the property. Homesteading takes 50,000 off the assessed value before your taxes are computed. As a non resident, you would not be entitled to this, so the assessed value for tax purposes would be computed from the sale price.

I hope this helps,

Myke Triebold, GRI, LMC
Certified Military Specialist
Web Reference: http://www.MykeTriebold.com
0 votes Thank Flag Link Fri Sep 3, 2010
It's whatever the taxes are for the current owner. You can easily calculate tax amounts by going to your county's appraiser/assessor's site.

Elena Ollick
Amerivest Realty
Faith Home Loans
skype: napleshomes
0 votes Thank Flag Link Fri Sep 3, 2010
It all depends on the current owner, what exemptions they have. It also is last years, not 2010 since those bills haven't come out yet. Check the property appraiser's site for the county in question. Lee county has a site to compute the new taxes.
0 votes Thank Flag Link Fri Sep 3, 2010

All depends where you are getting the listing information from.
If it is directly out of MLS it will say if homestead has been applied or not. If pulled from another information source it will be a mixed bag, since they will publish the tax info without taking into account whether homestead was filed or not.

However Keep in mind that the tax amount you see reflects the tax based on the last purchase price, and it will likely be reduced when computed on your purchase price.

If you are looking to purchase in the Disney/Kissimmee/Davenport area I would love the opportunity to help.

Tony Vega
Charles Rutenberg Realty
0 votes Thank Flag Link Fri Sep 3, 2010
It depends on the person that enters the data- usually the what is quoted is the amount that the current owner is paying; homterad, widow/er, etc. A better way to determine your tax rate is to search the County Appraisers Office.
0 votes Thank Flag Link Fri Sep 3, 2010
Usually the homesteaded amount if the home qualifies.
0 votes Thank Flag Link Fri Sep 3, 2010
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