You mentioned a listing price of 620K when the property is evaluated in the tax record for 900K. Here in Florida we pay property tax in arrear meaning that the 2009 value stated might be more than the soon to be published 2010 value. However, I am guessing that this is a short sale.
A Buyer takes over the taxes on the property and will get a new evaluation the next year.
If you can prove that your property is worth less by showing proof of comparable sales in the neighborhood with a lesser value tn I urge you to contact the county property tax appraiser's office and ask for re-evaluation. Keep in mind that the county assessor's value is strictly for property tax evaluation and should not be used as a sole source of information to arrive at fair market value.
As other agents have said the values are reviewed each year and will change with market conditions, the assessed value may be more or less than the actual value of the property. The tax rolls will also show "just market value" and "taxable value." An owner who has owned homesteaded property for a number of years will have a taxable value that can be much less than the "just market value." The tax will also vary by location of the property, the millage rate on a property in the city limits of Sarasota will be higher than a property locationed outside the city limits. The actual city limits of the city of Sarasota are quite small, and many properties with Sarasota mailing addresses are actually in unincorporated parts of the county. Please contact me with any specific property in which you have an interest and I will be able to provide you with the millage and any special assessments that may pertain.
Prudential Palms Realty
You are correct. Taxes are based on sale price. If you figure 1.4 to 1.5% of sale price you will have a good estimate of what the property taxes will be. Taxes will also vary depending on wether or not the property has a homestead exemption or not. Homestead properties also receive a $50,000 tax credit.
I hope this helps,
Teresa M. Fellows
Waterside Realty LLC