First year property taxes

Asked by Janieh, 33301 Tue Jun 15, 2010

I am looking at a few properties in Broward and am trying to figure out taxes. From my understanding, taxes are established from January 1st - so do you pay takes off the previous sales price? If so, when are the new property taxes detirmined and how long do I have to wait before I can file for the Homestead exemption? I am asking this because I am looking at 250,000 houses and most sold at 350 and the taxes seem pretty high, but am just wondering how long I would have to pay taxes on the inflated amount.

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Angela Schra…, Agent, Pembroke Pines, FL
Tue Jun 15, 2010
Hell Janieh. In Broward County, the taxes are re-assessed each year. Most homes were re-assessed last June 1st and saw a fairly significant drop in assessed value and taxes due. The same happened again this year too.

If you go to the Broward County Property Appraiser's website,, and look up a couple of the homes that you're considering, you will see that the 2008,2009 and estimated 2010 taxes are listed there. This should help you.

When the real estate market was healthy and growing, a few years ago, homes were assessed at their sales price - this worked very lucratively for the state, but now that the market has declined, and there are so many distressed properties out there, there has to be a different method of assessing properties, as sales price no longer works.

Anyhow, to answer your question, you pay the taxes that are out there until they are assessed again the next year.

As far as Homestead Exemption is concerned, if you owned a home after January 1st, 2010, you have until September 20th, 2010 to file, and you can do that as soon as you have closed on the property. You can do this online by going to After that, you will have to file for 2011. If you go to, all the instructions are there.

I hope this helped! If I can help you find your new home, please let me know, I'd be delighted to help you.

Best regards,

Villa G Realty, Inc.
Tel: 954-816-7996
Web Reference:
1 vote
Claudio & Ro…, Agent, Coral Springs, FL
Tue Jun 15, 2010

The best thing to do is contact the Broward County Property Appraiser's office and they will give you more accurate information. Speak to a community outreach coordinator at 954-357-5579.

If you need any assistance in finding your dream home simply give me a call at 954-260-5570.

Visit my website for Dream Home Finder at the link below.

Make it a great day!

Claudio Petasne
The Keyes Co. Realty
1 vote
Olga Baum, Agent, Boca Raton, FL
Mon Jul 19, 2010
In addition to being a Real Estate broker, I run an Ad Valorem tax appeals business in Broward. If you believe that your assessment is too high I can help you appeal your property taxes. The deadline to file an appeal in Broward County for 2010 is arounf September 19.
Please got o my website
Web Reference:
0 votes
Richard Sand…, Other Pro, Portland, OR
Sat Jun 26, 2010
It's such a relief to see so many real estate professionals recommending that potential purchasers like you make their first action a call to the local assessor. Nearly every local assessor has public relations outreach initiatives that work to help potential buyers and property owners understand the assessment process. We assessors also need the help of these professions in getting the word out that we do care, and that we will try our best to explain the process.
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Wed Jun 16, 2010

Visit the Broward County Property Appraisers website. You will find alot of your questions answered there. Yes, you would be paying your prorata share of taxes the first year- based on the current assessed value- not necessarily the "sales price".
0 votes
John Bennett, Agent, Orlando, FL
Tue Jun 15, 2010
Hummm Janieh,

By Florida law, each county has a Property Appraisers office. Now you may hear your tax has something to do with purchase price, believe me, It has Nothing to do with what you buy a home for.

Each home is appraised according to a set formula by the counties property appraiser. This is called
"Just value" of your home. This value is adjusted each year as of Jan 1.

Lori Parrish is Browards Appraiser (Parrish is a FAMOUS Florida Family but do not know if she is one)

Her site is

Just Value from her site:
VALUATION - What is "just value"?
The Florida Constitution requires us to value all property at its "just value." The Florida Supreme Court settled the matter by ruling in the 1965 case of Walter v. Schuler that "just value" is the same as "market value." Market value is the cash amount a hypothetical willing buyer would pay for your property to a hypothetical willing seller on the open market under normal financial conditions (and minus a reasonable cost of sale). Thus, the actions of people who buy and sell property like yours set the value of your property.

Again from her site:

TAXES - Who sets my taxes?
The amount of your tax bill depends on two factors. The first is the assessed value of your property, which is our responsibility. The second is the tax rate, expressed as dollars per thousand, for each taxing body in which your property is located. For example, your property might be subject to taxes by Broward County, the School Board, a City, a Hospital District and multi-county districts such as the South Florida Water Management District. The sum of each of these tax rates is multiplied by your assessed value and equals the amount of taxes you are called on to pay. If you believe your assessment is too high, contact our office. If you think your taxes are too high, contact the governing body of the jurisdiction in question. Each taxing body is required to hold two hearings before they set the tax rate. They welcome responsible comments from taxpayers like you when setting their budgets and tax rates.

If you buy a home that for 100,000 that has a 200,000 Fair value, your taxes will be on $200,000

If you buy a home for $200,000 that has a Fair Value of $100,00, your taxes will be on $100,000.

The 2% of purchase price is total - well it TOTAL .

0 votes
Susan J Penn,…, Agent, Weston, FL
Tue Jun 15, 2010
Dear Janieh,

Hi! When purchasing a home, the taxes are prorated to the date that you are purchasing the property. As a buyer you only pay for the days that you have owned the house.This is June. If you buy a home in July, you pay for 5 months of taxes and the seller pays for 7 months. Then, every January 1 the taxes are assessed. You can apply for homestead exemption starting January 1. If you purchase in 2010 you apply for Homestead January 1, 2011 with the broward county property appraiser site.

As a guideline, your taxes are approximately 2% of your purchase price.

Susan Penn,PA, EWM Realtor
2000 Main Street
Weston, Florida 33327
0 votes
Lynne Hale, Agent, Fort Lauderdale, FL
Tue Jun 15, 2010
Hi Janieh:
If you purchase a house this year, you will pay a portion of the property taxes that are currently on the home. It will be pro-rated, so if you closed on August 31, you would only owe one third of the year's taxes. The current owner would give you a credit at closing for the portion of the year that he has used, and then you pay the taxes at the end of the year. The new taxes would be adjusted from the sale date and you can contact the appraisers office if the market value of the home is not correct. If you would like to give me a call, I can explain expenses and costs further.
If you are not working with a realtor, I would love to assist you in your home search.
I have lived and worked in Broward county for 29 years and know my market. I hope to hear from you, and if not, I wish you well.
Kind Regards,

Lynne Hale, Realtor
Century 21 Hansen Realty Inc
0 votes
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