Property Q&A in North Miami>Question Details

Simona Blaja, Home Buyer in El Portal, FL

2010 taxes

Asked by Simona Blaja, El Portal, FL Sun Oct 16, 2011

I have sent 2 emails to the agent trying to find out what were the 2010 taxes for this property and to schedule a viewing. No response! Is this the only listing agent? Thank you

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Hi Simona,

I have reviewed the MLS website and cannot find an active listing for this property. I also went into the "Dade County Property Appraisers" website and did find the townhouse, it was bought in 1980 for $79,500. For this year, 2011, It is assessed at $74,105. The taxes have been paid . Based on this info, we can estimate that the taxes are around $1,500. However, it does not disclose the tax amount as the "Broward County Property Appraisers" website does. This is not an active listing. Sometimes Real Estate websites take a little longer for listings to be updated from the MLS website. however, I did a thorough search and could not find anything ever listed for this property. The good thing is, there are four other townhouses listed in the same complex, in the same price range and I would be happy to email you the listings. If interested, please send me an email and I will be happy to forward you the listings.
Kind regards,

Jen Babacan
Galleria International Realty
jenbabacan@live.com
Cell (954) 648-7334
0 votes Thank Flag Link Sun Oct 16, 2011
Property does not:

"Therefore, if you purchased the property for $80,000, your property tax bill would be around $1,600 per month the following year, with no homestead exemption. The property gets re-appraised when it sells to reflect the new sales price"

IF you buy the property for 1,000,000 and it is appraised by county at $ 10,000 you will pay taxes at the 10,000 rate. If you buy it at $10,000 and I is appraised by county at $1,000,000 you will pay taxed on $1,000,000 dollars. So you see taxes has NOTHING to do with what you pay.

YOU can go HERE to find out: http://www.bcpa.net/TaxCalc.asp
And to see what the Broward County Property Appraiser says about this please go to:

http://www.bcpa.net/FAQ.asp#10082

Short recap from Ms Parrish site:
"Florida law sets January 1 as the assessment date each year for determining both value and exemption eligibility. While January 1, 2011 is the date used for setting your assessed value for the August 2011 Notice of Proposed Property Taxes ("TRIM Notice") and November 2011 tax bill, the 2011 value is based upon the market value for similar properties in the same or comparable subdivisions during January 2, 2010 - January 1, 2011 (with the greatest weight given to sales from the final quarter of the year). A 2011 drop in market values, if any, will be reflected on your 2012 assessment and tax bill. Likewise, in a year when values increase, those increases will not be reflected until the tax bill the following year.

If you purchase a property in a foreclosure, your actual purchase price may not reflect the just (market) value used for determining your taxes. The Florida Department of Revenue (DOR) issued an advisory opinion that foreclosures generally should not be used for assessment purposes. Thus, because of the stabilization of real estate values from sales realized during 2010, we did not qualify foreclosure sales for the 2011 assessments. However, for the 2011 assessments, we again qualified short sales for assessment purposes if the property was listed for sale on the MLS open market and the property is in normal/good condition. Regardless of your purchase price, assessments in Florida are done a year in arrears. This means your 2011 assessment is based on the sales in your neighborhood (excluding non-arm's length transactions and other "disqualified" transfers) which occurred between January 2, 2010 and January 1, 2011. A drop in sale prices between January 2, 2011 to January 1, 2012 -- if any -- will be reflected on your 2012 assessment."

This is Florida LAW!

John
0 votes Thank Flag Link Sun Oct 16, 2011
Hello Jen,
thank you for your answer. Here is the full address:
1727 Northeast 142nd Street, North Miami FL 33161
0 votes Thank Flag Link Sun Oct 16, 2011
Hello Simona,
If I had the complete address, I would be able to tell you the property taxes. Any Realtor can help you with this, not just the listing agent. The property taxes would be approximately 2% of your purchase price. Therefore, if you purchased the property for $80,000, your property tax bill would be around $1,600 per month the following year, with no homestead exemption. The property gets re-appraised when it sells to reflect the new sales price. If it's your primary home, then you can apply for homestead exemption, which would reduce your property taxes significantly. If you have any other questions, feel free to contact me anytime.
All the best,

Jen Babacan
Galleria International Realty
jenbabacan@live.com
Cell (954) 648-7334
0 votes Thank Flag Link Sun Oct 16, 2011
Only one listing agent at a time. Now any Realtor can show you this property.
0 votes Thank Flag Link Sun Oct 16, 2011
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