New York (Westchester) to Florida - Help?? (Orlando, Coral Springs: mortgage, environment)

[RMD3819]

Originally Posted by JLFCPA

So let me get this straight. My new property taxes will be 2% of my purchase price? Is it the same for new construction? If I buy in a mature area, I could end up paying 3 or 4 times the property taxes as my neighbor?

Yes.

First there is the 25K homestaed exemption which shaves 25K off the taxable value. You have to be a full time resident to get that.

Second there is the Save Our Homes cap which limits tax increases to 3% no matter what the value of your house.

If I sold my house for the assesed value of 600K then the buyer would pay taxes on 600K-not the 284K that I pay because of these exemptions.

There is a vote coming up this month to radically change this system so if it passes the numbers will be different.

[Cindi Waters]

As far as the school system goes, when we lived in Kentucky we had occasion to have dinner with the parents of a major executive in a well known corporation. The wife mentioned that they moved from Florida to Kentucky because the schools were so bad in Florida, they wanted to get their boys in better schools. I was taken aback thinking that Florida would have better schools than Kentucky. But no, apparently it didn't. I have frankly never seen more illiterates and poorly spoken people come out of school than I do in Florida.

[JLFCPA]

Originally Posted by RMD3819

Yes.

First there is the 25K homestaed exemption which shaves 25K off the taxable value. You have to be a full time resident to get that.

Second there is the Save Our Homes cap which limits tax increases to 3% no matter what the value of your house.

If I sold my house for the assesed value of 600K then the buyer would pay taxes on 600K-not the 284K that I pay because of these exemptions.

There is a vote coming up this month to radically change this system so if it passes the numbers will be different.

The Homestead exemption doesn't seem to do a whole lot - maybe it saves you $500, I guess - and the Save Our Homes thing only helps out going forward. Does the proposed changes being voted on make it more or less beneficial to someone purchasing?

[JLFCPA]

Originally Posted by Cindi Waters

As far as the school system goes, when we lived in Kentucky we had occasion to have dinner with the parents of a major executive in a well known corporation. The wife mentioned that they moved from Florida to Kentucky because the schools were so bad in Florida, they wanted to get their boys in better schools. I was taken aback thinking that Florida would have better schools than Kentucky. But no, apparently it didn't. I have frankly never seen more illiterates and poorly spoken people come out of school than I do in Florida.

That's about as strong a negative statement as I've seen about the Florida schools. But it is very general. There have to be exceptions to the rule, don't there? I mean, some of these school systems must be turning out a decent product. It's just a matter of finding out which ones are the better or best of the lot, no?

[doghead]

If this helps, I moved to FL in 2003 and moved back in 2006. Vacationing for 2 weeks and living there are two different things. Everyone says that. But I didn't have my own business and worked for other people. I was also hit by a major hurricane and was without power for two weeks. The only thing I miss is the warm ocean water. Everything else--professional opportunities and even weather--is better here, IMO.

[lvmy3grls]

We live in St Augustine, moved from Long Island and we love it! The weather up here is significantly less humid and warm than in South florida, we have not had an electric bill higher than $130 for three months now! The schools are wonderful, they just built a brand new middle school with the latest amenities and activities for the kids. Nease High School was ranked in the top 100 of the entire usa by Money Magazine in 2007, so that tells you something. I would not move back to NY for anything, the pace of life here, pleasant weather, and overall lifestyle is so much more wonderful for my kids. they play outside every day, even when it's hot, it's easier to get away from the heat with a pool or the beach, as opposed to getting stuck inside for five months, I know exactly how you feel.
If you come with the right attitude, you will not be sorry. Many things are different here, but nothing you cannot deal with if you have a good attitude. Feel free to pm me for more info. Good luck!

[Momma_bear]

Originally Posted by JLFCPA

First off - thanks for your very relevant reply. Secondly...$9000!!!??? That approaches Westchester levels. I didn't see one property listed online that quoted anywhere near that amount of property taxes. How could it be that high?

Also, just curious, but how much is the private schooling costing you?

The property listings list the current owner's taxes. Your taxes will be based on the value of the home when you purchase it and will NOT be the same as the current property owner's taxes.

Taxes around here (SW Broward) cost around 1.75% (mill rates vary by city) of the assessed value of the home. The assessed value of the home is usually pretty close to the market value. Our property taxes in Broward were only slightly less than our taxes in Westchester when we moved here. Briarcliff is in Ossining and I recall that the taxes in Ossining were higher than those in Cortlandt so you may see a bigger difference in property taxes if you move. There is no state income tax here in FL, so there would be a savings there.

Our kids to to a non religious private school and it costs around $15K a year. Religious private schools are less costly.

[Momma_bear]

Originally Posted by JLFCPA

So let me get this straight. My new property taxes will be 2% of my purchase price? Is it the same for new construction? If I buy in a mature area, I could end up paying 3 or 4 times the property taxes as my neighbor?

Absolutely. We bought our house in 2000 for $387K. A house in my neighborhood recently sold for $775K. My taxes are currently around $7K a year. My new neighbor pays around $14K a year.

[JLFCPA]

Originally Posted by Momma_bear

Our kids to to a non religious private school and it costs around $15K a year. Religious private schools are less costly.

I assume thats for the 2 kids. It's not that bad. At least it's nice to know we have that as an option, if it turns out we're really disappointed with the public schools. Plus, everyone seems to thing the colleges are great and they're pretty cheap for residents...........

I'm pretty bummed about the property tax thing. I was thinking $3k-$4k...way cool!! $9k, however, is quite sobering.

[FHMullane]

When you think of the taxes as they plug into the COL remember there is NO income tax and there is NO tax on cars and boats and that is a big savings. Also we run a lot of AC here but most places are pretty efficient with the AC and we don't heat much. Heating can be much more costly. So when you add it up...maybe it isn't so much different in FL. Different areas of FL offer very different lifestyles and you just have to know where to go to get what you want.