[i love ny]

someone told me that in florida your real estate taxes are 2% of the sale value of your home for example if you purchase your home for 700,000 your real estate taxes should be 14,000 true?

[macguy]

Originally Posted by i love ny

someone told me that in florida your real estate taxes are 2% of the sale value of your home for example if you purchase your home for 700,000 your real estate taxes should be 14,000 true?

It is based on millage rates. Could be in Florida anywhere from .14 to around .26. In Fort Lauderdale that $700,000 house would be about $17,000

[JohnN]

I'm moving that way and that's what realtors have told me is a good rule of thumb. There is a homestead exemption that gives some relief, but it's not much

[tallrick]

The homestead exemption saves you 250.00-500.00 a year. BIG DEAL! Long time residents get the unconstitutional "save our homes" cap that unfairly divides homeowners and causes rents to rise. People have to have their heads examined to move to this place with the astronomical property tax rates. The system made sense when homes sold for their actual value. At today's bubble prices it's all broken.

[macguy]

Originally Posted by JohnN

I'm moving that way and that's what realtors have told me is a good rule of thumb. There is a homestead exemption that gives some relief, but it's not much

There is no real rule of thumb. You can be in one city at .23 and go one mile and it drops to .15. You have to check and see what it is where you want to buy.