David B, Home Buyer in Detroit, MI

question about variability in property taxes...

Asked by David B, Detroit, MI Fri Feb 11, 2011

while browsing through the listings in Fort Lauderdale, I have noticed that the property tax dollar amount seems to be highly variable...I mean by a large amount!!! Some will show $700 to $800, while some will show $2200 to $2300. I don't understand why there would be such a wide variation in amounts? My searches are limited to properties with roughly the same descriptions, including 2bd, 2ba, condo/townhouse, ranging in the area of 40k to 80k. Is it possible that the annual taxes would vary by that large of a degree within the same general region and similar descriptions?


Help the community by answering this question:


Boris Russanov Top agent’s answer
Property taxes are based on county appraisal, the taxes are depending on when the property being sold, does the property have homestead, improvement and other factors. That is why the differences in taxes.
2 votes Thank Flag Link Mon Feb 14, 2011
This variance is due to the Florida Homestead law. If you are living in the property and the property
is being used as your homestead then the property taxes cannot be raised more than 3% per year.
But once the property is sold , the property is re assessed and taxed at the higher assessed value.

Someone that has lived in the property for a long time as there homestead would have a lower
tax bill than someone that has only lived in the property for a short period of time.

Also this homestead provision is not available for investors

Hope this help.

Please contact me anytime If I can be of any assistance.

James Loftis
Real Estate 911 Inc
Web Reference: http://RealEstate911.com
0 votes Thank Flag Link Tue Jul 31, 2012
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