If I buy it for $49,900 , next year I will pay taxes based on my buying price or 2011 market pricew

Asked by Eduardo Costa, Brazil, IA Wed Nov 21, 2012

This question was asked from http://www.trulia.com/property/3052639016-7369-Orangewood-Ln…

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Jennifer Susanne Sommers’ answer
Jennifer Sus…, Agent, Boca Raton, FL
Fri Feb 1, 2013
Dear Eduardo,

The taxes will be based upon the "assessed value". You can check out the assessed value on the Palm Beach County Tax appraisers website.

Sincerely yours,
Jen Sommers
Jennifer Sommers, Nestler Poletto Sotheby's International Realty
One South Ocean Boulevard, Suite 11 ⃓ Boca Raton, Florida 33432

O. 561.235.7777⃓ C. 786.390.9299 ⃓ F. 561.997.2614
Jen@AgentBoca.com ⃓ http://www.AgentBoca.com



"Artfully Uniting Extraordinary Properties with Extraordinary Lives"
0 votes
Gary and Kar…, Agent, Boca Raton, FL
Sun Nov 25, 2012
So many answers here - I agree with one answer - The taxes will be based upon the "assessed value" - There has been many a conversation regarding the 2% - on "purchased price" - I would like to hear of a specific example of this -

I believe it also very prudent to consider the +/- of completing the transaction post/prior the new year.

Bottom line - speak to a "Florida" accountant...

To buy property now speak to me!

ITS A GREAT TIME TO BUY IN THE USA!
PRICES ARE ON THE RISE...
MONEY IS AVAILABLE AT RECORD LOW INTEREST RATES
CONTACT GARY YOUNGMAN 561.306.7653
FULL TIME SOUTH FLORIDA RESIDENT ALMOST 25 YEARS
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0 votes
marc jablon,…, Agent, Boca Raton, FL
Wed Nov 21, 2012
If you purchase this Boca Raton condo in Boca Grove Country Club, you will pay taxes next year based on your buying price. You can figure your taxes typically at around 2% of purchase price. You will finish out this year paying the current taxes on a pro-rated basis.

It is important to notify the county before Jan 1 that you have purchased.

You must also figure in the $85,000 equity price you must pay in order to join the Boca Grove Country Club. There is no yearly tax on this expense.

In addition, there are annual country club dues that will run somewhere between $18,000 and $25,000.

Finally, there are quarterly HOA fees of $4100.

If you are a dedicateded golfer and you are looking for a Boca Raton country club lifestyle, you have found one of the most appealing country clubs around. Boca Grove in Boca Raton is always beautifully tended. In fact the golf courses were recently redone from top to bottom. If this lifestyle is what you are looking for, then you have located a beautiful condo in Boca Raton at a true bargain price.

However, if you are not looking for a country club lifestyle, then you will find that comparable condos that are not located in country clubs in Boca Raton will run at least 3 to 4 times the asking price of this one.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
0 votes
Antonio Vega…, Agent, Saint Cloud, FL
Wed Nov 21, 2012
The first year taxes will be paid on the assessment of the year before, the year after purchase assessments should adjust to your purchase price. Keep in mind that taxable value does not change at the same speed as purchase price can, sometimes you may pay less to buy a property that its actual taxable value. Also you must go to the county and file for homestead after purchasing if you are living at the house more than 6 months a year. Only the specific county's proprty appraiser could answer your question in detail. Callt them.
0 votes
Gloria Pradi…, Agent, Boca Raton, FL
Wed Nov 21, 2012
Hi

Property taxes are calculated by the assessed value - a yearly estimation performed to decide the reasonable market value for your home based upon prevailing local real estate market conditions.
Give me a call at 561-305-2342 and I help you find the best deal for your money.
0 votes
Phil Rotondo, Agent, Melbourne, FL
Wed Nov 21, 2012
You may be right; but if you wait until next year, the proprety could go up to $55k.
0 votes
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