I am buying a townhouse in Miami and I will be closing this deal next month. I realized that in 2007, the

Asked by Juan L Marquez, Miami, FL Tue Aug 19, 2008

previous owner paid almost $6,000 in property taxes. This is a Reo
property now. I am purchasing this home for
$197,000 now, my question is will I have to pay taxes next year based on my purchase price or based on the previous
sales price of $288,000?

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Ivan Reyes, Agent, Miami, FL
Tue Sep 9, 2008
The best advice is to contact your tax appraiser's office. Homestead Exemption has increased from 25K to 50K. You can go the link below and get an estimate based on the sale price you pay. If you are going to live in the property and is not an investment apply for homestead exemption as soon as possible.
Good luck

Ivan Reyes,

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