The tax system here will have you paying the same rate as the seller during your first year of occupancy. At January 1st of the year following the purchase, the house will reassessed based on the purchase price.
If you are going to be a full time resident, you can take advantage of Homesteading that lowers your tax bill.
Here are some things to consider
* If this property is new construction, then taxes will be lower since you will pay what the builder pays which is often just based on land value
* If this property was owned by an out of state resident then you will have higher taxes in the first year until you homestead the property.
* The new homestead exemption is only temporary and will be up for a new vote for a new plan in November
* If you buy in city limits, you will likely pay a municipal tax on top of county and state tax... if you buy in unincorporated county, you'll pay less... for instance, West Boynton Beach Florida is unincorporated and pays only 1.69% of assessed value...and then gets homestead off of that. Boca Raton pays closer to 1.85%!
To factor HIGH on taxes some people say guess 2% of the property value... but you can take 30% off of that easily.
If you can get the address, I can get you the current taxes and proposed for 2009 from the appraisers website.
Boca Executive Realty