I am looking to purchase a vacation home near North Port. Approximately how much are property taxes yearly?

Asked by Bob, Toronto, OH Fri Apr 3, 2009

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Bill Eckler, Agent, Venice, FL
Sun Jun 7, 2009

We would be happy to put you in contact with some folks from Toronto that have recently become Florida property owner and would be happy to speak with you about their experience. We have contacts in Toronto, Barre, London, and Nova Scota.

There is no better way to learn than from those that have "walked the walk."

Let us know if you are interested in this contact information.

Best regards,
Susan & Bill

Michael Saunders & Company
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Shannon Moore…, Agent, Port Charlotte, FL
Mon Apr 6, 2009
Hi Bob!
As Alex said, the taxes will be based on the county's property appraiser's value of the home, which will rise and fall as the market does. Something to keep in mind right now is that because the values of homes are so low, taxes will be as well. Make sure that you plan to pay higher taxes in future years when the value starts to come back up. I have heard horror stories of people who bought homes when the taxes were low and thought that they could afford more home than they actually could...then when their home was appraised at a higher value later, their taxes went up significantly. Additionally, since you said that this will be a vacation home, you won't qualify for Florida's homestead exemption which helps reduce what you pay in taxes.

Just some things to think about! Good luck with your search!

-Shannon Moore
0 votes
Alex Krumm, Agent, Sarasota, FL
Fri Apr 3, 2009
It depends on the property - in Florida we base it on the county's appraised value of the home. Also, it makes a difference whether or not it's in an incorporated city; cities will impose additional tax.

The general rule of thumb - but don't quote it - is 1.25 mils, or 1.25%.

Alex Krumm
Re/Max Alliance Group
941-234-3597 direct
941-954-5454 office
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