Financing in Winter Park>Question Details

George, Other/Just Looking in New York, NY

Tell me about property taxes in winter park,am moving from ny and trying to get a grip on affordability

Asked by George, New York, NY Sat Jan 5, 2008

What would I expect to pay in taxes and insurance on a 400,000 home?

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7
Hi George,

Property tax is determined by millage rate. To calculate property tax:

Divide the millage rate by 1000
Multiply that number by the adjusted value of the property (purchase price subtract 50K for homestead exemptions, there are other exemptions if you qualify)

The present millage rate for Seminole cty is 18.0992
The present millage rate for Orange cty is 17.6623

Hope that helps !
I am a Realtor for that area if I can be of any other help visit me @ EileenEskew.kwrealty.com
0 votes Thank Flag Link Wed Apr 17, 2013
Hi George - As Barbara mentioned in her response, the save our homes law prevents a taxing authority from increasing the assessed value of a homestead property by a certain percentage each year. Because of this the taxes on a home you may be purchasing could be listed significantly lower than what you would be paying. If you are planning to finance, the lender will escrow based on the newly calculated amount, which is based on purchase price. To give you a more accurate view you can use the property tax estimation tool that is available on the Orange County or Seminole County Property Appraisers site http://(www.ocpafl.org, scpafl.org). The area of Winter Park you choose will determine the county. While all of 32789 resides in Orange, a portion of 32792 resides in Seminole. Once you determine the county and access the site you can click on the property search link on the left hand side, followed by records search. From there you can enter a specific address and once the TRIM information appears you will see an icon entitled "estimate". If you click this icon you can enter the appropriate info and it will return the estimated tax bill. If you would like to view listings in the area or have any other questions I may be of assistance with, please do not hesitate to let me know and ill be more than happy to help.

Best regards

Bryan Knight - REALTOR / Mortgage Loan Consultant
The Brenparc Team
Greater Orlando Realty USA Inc
Approved Mortgage Source
NMLS # 859840
407-756-5517 - cell
407-951-5129 - fax
Bryan.knight@brenparc.com
0 votes Thank Flag Link Fri Apr 12, 2013
What would I expect to pay in taxes and insurance on a 124 900 home?
0 votes Thank Flag Link Wed Apr 3, 2013
You are looking at about $6,000 - $7,000 for both. Of course, some factors include things like age of home, size of property etc.
0 votes Thank Flag Link Mon Jun 23, 2008
hello George,
When bting a home in Florida, one gets the benefit of the previous owner's assesment until the next calendar year. Then the home is re-assessed. A good rule of thumb is to take about 75-80% of the SALES price - then if its your primary reisdence subtract 50,000 from the assessment and then multiply by .02. (approximate millage for Orange County) . EXAMPLE: a 400,000 purchase will be assessed at approx 300K subtract 50K to get 250K then approximate tax bill will be 5,000. Homestead exemption caps the amount that your assessment can go up and thats why the previous owner's taxes might be significantly lower. This is why you might see a wide range of yearly taxes when you look at a variety of homes priced similarly.
Web Reference: http://www.myflorida.com
0 votes Thank Flag Link Wed Mar 19, 2008
George,
Winter Park Florida is considered a rather nice address. I took a quick sampling of the taxes on current listings at 400K and found that there is a low 2500 per year to 5900 per year. Quite a big spread. Let me know if I can help.
Rick.
Web Reference: http://www.realestatera.com
0 votes Thank Flag Link Wed Mar 12, 2008
George - Winter Park in what state?
0 votes Thank Flag Link Sat Jan 5, 2008
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