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
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
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.
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.