Do you think the property tax would be higher for a non-resident in Florida?
The best way to determine the property tax for the Florida city your looking to purchase a home is to visit the property tax appraiser for that FL county you are purchasing in. But even still you cannot rely on that tax amount to stay the same.
Hi Nader,
You've been asking questions for a year and a half now. So clearly you are being very careful before you take the plunge. See the answers to the other question you just asked about property taxes.
Yes, property taxes for foreigners can be significantly higher than for resident Floridians. In this case foreign applies to anyone who doesn't live in Florida regardless of citizenship.
During the boom of 2004 to 2006 the difference in property taxes paid by homestead versus non-homestead properties got well out of control. There were examples in the paper of streets where some people paid $2,000 while their new neighbors paid $8,000. The system was designed to make new comers pay for growth.
Now that prices have tumbled the reverse is happening. New comers are seeing sginficantly lower property taxes because assessed values are down 25 to 40%, while long time homesteads are seeing increases because the taxable value of their property has gone up 3% and the millage rates have gone up 10% or more. As can be imagined the long time homesteaders are not real happy about this.
Doubtless the state legislature will mess up the system yet again.
It's a great time to buy. Good luck,
Mark LeMenager
Weichert, Realtors - Hallmark Properties
Technically the system is not tiered. Rather there are exemptions to the property values. The homestead exemption is part of this system. However investors do not enjoy the homestead exemption even if they are residents because the tax measure was meant to benefit owner occupied properties. However property taxes are still deductable when filing your income taxes.
Nader,
Please see the link below.
It shouls help answer this question.
Realtor Rick.
http://dor.myflorida.com/dor/property/exemptions.html
Florida has a $50,000 homestead tax exemption for all those who qualify. Your must become a Florida resident and file for domicile in your county of residence. All this information is on the web under Florida Homestead exemption. It is too detailed for this amount of space. If you are not a Florida resident and do not file for homestead then you do not get this exemption and I guess that would constitute your use of tier 1 and tier 2 . Yes, property tax for the same property is higher for a non-resident of Florida.
Yes. Unless this is your primary residence, you will pay higher taxes.
Didn’t find what you were looking for? Ask a question!
|
|
|
|
|||||||||||
|
|
|