Home Buying in Fort Myers>Question Details

C Nelson, Home Buyer in Maine

SW Florida Condo Taxes

Asked by C Nelson, Maine Wed Jan 30, 2008

In Browsing through condo's that are for sale in the Ft Myers - Cape Coral area, i have noticed the listed taxes have varied a great deal...some lists them as 3 digits..ie. $325, while others are listed as 4 digits..ie $2467. Are these answering the same question, or are one a monthly figure vs a yearly figure? Also, with the plunge of the prices, will the taxes also fall to reflect the lower values?

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Answers

4
Hi C.,

You have received some pretty thorough answers to your question. When you find a property that you like, have a Realtor do an estimate on what your closing costs would be, as that will include your taxes.
Web Reference: http://www.PhilFowler.com
0 votes Thank Flag Link Wed Jan 30, 2008
Mr. or Ms. Nelson,

Besides the previous answer which was dead-on, , there is one other possible cause for wide discrepancies in property taxes. If the properties happen to be older, and one owner has owned the property since well before the run-up in prices, that owner may have received the benefit of a cap on how much taxes were allowed to go up in a single year.

In other words, if an owner from before the huge increases, claimed the property as their domicile or homestead, their taxes were capped at 3% per year. Other properties may have had their taxes doubled or more over that same period if they were owned by people who had their domicile elsewhere or if the property was sold during the run-up years and then got re-assessed by the local tax assessors.

We had an election yesterday that should build a little more equity into the system. Remember, even someone that had the homestead benefits was often trapped in their homes because they couldn't afford the taxes on the replacement property if they moved! It was a double edged sword. The new amendment should balance it out a bit.

I hope this answers your astute question.

Sincerely,

Tom Bernardo, Realtor/Partner, GRI
Keller Williams World Class
239-560-6702
tombernardo@earthlink.net
tombernardo
0 votes Thank Flag Link Wed Jan 30, 2008
Hello,
First, taxes do vary. We have a tax calculator on http://www.leepa.org when you search for a specific property you can put in the slaes price and it will give you an idea of what to expect. If you need help using this, give me a call and I could walk you through it 239-209-2237. Taxes are based yearly, what you are most likely seeing is a newer condo and that taxes have yet to catch up; and that was based on land tax only. As for taxes you will pay; that will be based on sales price so they will vary .The best bet is the tax calculator it is very helpful. Let me know if you need help with it.
Take Care,
Nancy
239-209-2237
nancy.doyle1@comcast.net
http://www.nancydrealtor.net
0 votes Thank Flag Link Wed Jan 30, 2008
the three digit answers were before the unit was sold and it is still the previous years taxes before it was built/CO'd. Your local realtor can give you the current millage rate on the particular area you are looking and what you can expect to pay at what purchase price. You can email or cal me and I can help.
0 votes Thank Flag Link Wed Jan 30, 2008
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