Property Q&A in Palmetto>Question Details

Carole, Home Buyer in Cary, NC

Would anyone know what the approx. amount of taxes would be on a Condo located in Riviera Dunes

Asked by Carole, Cary, NC Sat May 9, 2009

This question is about this property:…

Help the community by answering this question:



Just to clarify... I understood your question to be: what is the APPROXIMATE amount of taxes...

As REALTORS, it is our job to counsel and clarify, in a more detailed way, any and all issues concerning the real estate buying or selling process, individually with our clients in person, before writing a purchase contract or helping our sellers negotiate one.

These forums are great for answering questions for people in general terms.... but not for giving detailed and complete information. We take great care to address issues, including tax questions, with our clients throughout the buying or selling process.

Hope that helps clarify and NOT confuse... Make sure to discuss your question in detail with your Real Estate professional!


Wendy Herndon
REALTOR / Office Administrator
The Serena Group
Keller Williams Realty of Manatee
1 vote Thank Flag Link Sat May 9, 2009

While I agree with Wendy that the taxes are based on the assessed value minus the homestead and any other exemptions, the 85% "rule" no longer applies to our market.
It is up to the Manatee County Property Appraiser's office each year to provide a valuation for each property in Manatee County. Since our tax system is based on the year's prior sales, our values aren't necessarily in line with the current closings. Also, the appraisers must follow strict state guidelines as to what constitutes an arms-length or non-distressed transaction. With the high number of foreclosures and short sales in this market, the appraisers have a very difficult job placing accurate values on the parcels.
Many times a home will sell for less than the appraised value in extreme buyer's markets, as we are currently experiencing. And now we are experiencing a time where an owner may have to petition the County office to reduce their assessed value, whereas several years ago that was unheard of.
The exemption process is also complicated. One must produce certain documentation to qualify for the various deductions. The first $25,000 homestead about is for those who declare the home as their primary residence. There is also an additional $25,000 deduction that applies, yet it does not include the portion going to school taxes. Then you have widowers/widows exemption as well as exeptions for not-for-profit entities and more.
In Riviera Dunes, more specifically the Laguna condos, there have been three sales in the last three months; the lowest at $165,000 was a bank-owned foreclosure and the other two were at $675,000 and $942,006. There are currently 22 active units, from two at $179,000 all the way up to a penthouse at $1,490,000. Depending on the pricing of the unit, you will be in the $4,000-8,000 range once the new tax bill comes out.
Visit for more information and explaination from the Property Appraiser.
Please let me know if there are any other questions I can answer for you.
Maryann Lawler, REALTOR
The Lawler Group
Keller Williams Realty of Greater Manatee
908 Riverside Drive, Suite 280
Palmetto, Florida 34221
Direct: (941) 586-8257
0 votes Thank Flag Link Sat May 9, 2009
A decent "guesstimate" is to figure 1.5% of your purchase price. It is not an exact figure but it will provide you with a general range of what to expect.
If I can be of further assistance don't hesitate to contact me.

Have a great weekend!
Beth Lancaster
0 votes Thank Flag Link Sat May 9, 2009
Greetings Carole!

Property taxes are calculated as follows: take 85 percent of the sales price minus a homestead exemption and other allowable exemptions multiply that by the millage rate for the county ...and city if you live in city limits. This will give you your property tax.

In Riviera Dunes the taxes are ranging from approximately $2500 - $10,00 / yrly.

Carole, if you are not already working with a Real Estate Agent or team.... please visit our website to learn more about THE SERENA GROUP and consider contacting us to assist with your Real Estate goals.

Happy Mother's Day weekend!

Warm regards,

Wendy Herndon
REALTOR / Office Administrator
The Serena Group
Keller Williams Realty of Manatee
0 votes Thank Flag Link Sat May 9, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer