[htlong]

i have heard that there isnt any state tax in fl, is this true? and what taxes do they have ie: county,city,sales,car . and what about property taxes?

[mquintana]

We have sales taxes here and property taxes and such...if you are wanting more info on it, sheck out this site and it will direct you to other helpful sites on Florida's taxes:
http://www.taxesinformation.com/florida.html

[ucfjtm]

I'd gladly take an income tax of 3-4% if the county would pump more funding to school systems, but they won't. Unless you managed to get locked into your home back in the early 90's with the 'Save Our Homes' exemption, you're basically screwed as far as property taxes go.

No income tax. No 'car tax' other than inexpensive yearly registration. Base 6% (or 6.5%?) sales tax, but local government can add on more. I've rarely seen it above 7.5%. Florida really nails you with property tax though - it varies drastically by county - but some people have been taxed out of their homes. A friend bought a $210k home back in 2000 at a fixed rate, and had no problem making payments. However, after the hurricanes of 2004 scared insurers, skyrocketing premiums, and property taxes having increased from $1600 to $7400 over the last 7 years, he was in trouble. Insurance and taxes outpaced his salary and he was struggling to make payments and keep his son in college. He left for Texas 4 months ago and is much happier. Be prepared to be able to handle extra expenses over the savings in income tax..

[Donna-50]

Originally Posted by ucfjtm

I'd gladly take an income tax of 3-4% if the county would pump more funding to school systems, but they won't. Unless you managed to get locked into your home back in the early 90's with the 'Save Our Homes' exemption, you're basically screwed as far as property taxes go.

No income tax. No 'car tax' other than inexpensive yearly registration. Base 6% (or 6.5%?) sales tax, but local government can add on more. I've rarely seen it above 7.5%. Florida really nails you with property tax though - it varies drastically by county - but some people have been taxed out of their homes. A friend bought a $210k home back in 2000 at a fixed rate, and had no problem making payments. However, after the hurricanes of 2004 scared insurers, skyrocketing premiums, and property taxes having increased from $1600 to $7400 over the last 7 years, he was in trouble. Insurance and taxes outpaced his salary and he was struggling to make payments and keep his son in college. He left for Texas 4 months ago and is much happier. Be prepared to be able to handle extra expenses over the savings in income tax..

Didn't he have SOH if he lived there that long?

[WestcoastBrit]

I sold my Florida home back in June. The new owner will pay $3600 on a tax value of $185k. If he files homestead exemption he will save about $500 and SOH should stop it increasing more than 4% a year. In this market however he should get a tax break over the next few years. Pinellas sales tax is 7% and car tax was about $45 for $32k SUV. It's the combined property tax and homeowners insurance thats the biggest killer.

[htlong]

so if i rent, a place , what taxes would i be required to pay ,is there a sales tax on things i would purchase? i guess theres no property, no income tax,no car tax but a tax on plates? with a 3 year olds vehicle how much would i pay for plates?

[Momma_bear]

One thing to keep in mind about real estate taxes is that you cannot look at what the current owner is paying to estimate what you will pay. When a house changes hands it is revalued at the market value (usually pretty close to what you pay) for tax purposes. In Broward you can estimate your taxes at 1.75-2.00% of the purchase price of the home.

Additionally, homeowners insurance is many times what you would expect to pay up north. You have to think in terms of thousands per year even for a modest home.

[NYLATINQT]

Overall taxes are lower in FL than in other places (except for the property taxes) but keep in mind that salaries are also lower than in other states. things sort of end up breaking even.

[WestcoastBrit]

Not sure what you'd pay for new registration now but try FL DMV website. I don't think age of car matters, I believe they go by weight ( might be wrong ). As NYLATINQT stated, salaries are LOWER!

[sunrico90]

FLORIDA
Sales Taxes
State Sales Tax: 6% (food, prescription and non-prescription drugs exempt). There are additional county sales taxes which could make the combined rate as high as 9.5%.
Gasoline Tax: 31.9 cents/gallon
Diesel Fuel Tax: * 27.9 cents/gallon
(Local taxes for gasoline and gasohol vary from 5.5 cents to 17 cents, plus there is a 2.07% gasoline pollution tax.)
Cigarette Tax: 33.9 cents/pack of 20

Personal Income Taxes
No state income tax
Retirement Income: Not taxed. Starting in 2007, individuals, married couples, personal representatives of estates, and businesses are no longer required to file an annual intangible personal property tax return reporting their stocks, bonds, mutual funds, money market funds, shares of business trusts, and unsecured notes. For details, click here.

Property Taxes
All property is taxable at 100% of its just valuation. In certain counties and cities homeowners 65 and over can receive a homestead exemption from property tax of $25,000 if their household income, as defined by the federal tax code, is at or below $23,463 per year (2006 figures). The income limitation is adjusted each year based on the cost of living index. In many instances the definition of household income excludes Social Security. Permanent residents may also be entitled to a homestead exemption regardless of age. Residents 65 and older are entitled to both exemptions ($50,000). The senior citizen's homestead exemption applies only to tax millage levied by the county or city, and does not apply to millage of school districts or other taxing authorities. The homestead exemption for all residents applies to all property taxes, not just city and county taxes. Annual increases in the assessment of homestead property are limited to 3% of the prior year's assessed value, or if lower, the percentage change in the Consumer Price Index for the prior, as long as there was no change in ownership. A 2006 law provides a property tax discount on homestead property owned by eligible veterans. To be eligible, a veteran must have an honorable discharge from military service, be at least 65 years old, be partially disabled with a permanent service connected disability all or a portion of which must be combat-related, and must have been a Florida resident at the time of entering military service. This discount is in addition to any other exemptions veterans now receive.

For more details on property taxes, click here, then find the link for the county property appraiser for the county in question. For more information on Florida property tax exemptions, click here.

Inheritance and Estate Taxes
There is no inheritance tax and only a limited estate tax.

To review information for new residents, click here.
For general information on Florida taxes, visit the Florida Department of Revenue site or call 800-352-3671.