U.S. Cities  

Go Back   City-Data Forum > U.S. Forums > Florida
Register Blogs Search Today's Posts Mark Forums Read

Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads.

Get a detailed profile
Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply


 
Old 09-21-2009, 03:30 PM
Member
 
Join Date: Apr 2006
Location: Sacramento, California
52 posts, read 30,779 times
Reputation: 26
karena is on a distinguished road
Default Confused about Florida Property taxes

I am thinking of buying a home in Ormond-by-the Sea. I have gone to the Volusa County Tax Assessment web site. Florida Tax Laws are confusing to me but if I read this right, it seem the $50,000 home owner exemption is not what I understood it to be. The first $25,000 is stable but the second can be changed by county expenses and has already gone down to $15,375 in Volusia County. This could be for new buyers only. Could someone please correct me if I read this incorrectly.
Reply With Quote Quick reply to this message

 
Old 09-24-2009, 08:11 PM
Junior Member
 
Join Date: Sep 2009
1 posts, read 428 times
Reputation: 10
Cssmith is on a distinguished road
Quote:
Originally Posted by karena View Post
I am thinking of buying a home in Ormond-by-the Sea. I have gone to the Volusa County Tax Assessment web site. Florida Tax Laws are confusing to me but if I read this right, it seem the $50,000 home owner exemption is not what I understood it to be. The first $25,000 is stable but the second can be changed by county expenses and has already gone down to $15,375 in Volusia County. This could be for new buyers only. Could someone please correct me if I read this incorrectly.
I also am looking to buy a house in Ormond by the Sea. Please share any tax information that you may find. Thanks
Reply With Quote Quick reply to this message
 
Old 09-25-2009, 12:25 AM
Senior Member
 
Join Date: Jun 2007
2,743 posts, read 1,161,296 times
Reputation: 901
MiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to behold
Homestead exemption applies to any principal homeowner who occupies the property as their own personal residence. You get a $25,000 exemption off your assesed property tax bill.

Example: the county says your personal residence is valued at $100,000 for property tax purposes but as this is your personal residence they tax you at $75,000 instead.
Seniors get a additional $25,000 exemption off of their assesed value as well so in my example above that $100,000 assessed value is now assessed at $50,000 instead.

Homestead property exemptions are goverened by state law so they can't fluctuate. Perhaps you are looking at Ad Valorem taxes such as property taxes that you pay for school districts, fire & police services, garbage and waste disposal fees?
Reply With Quote Quick reply to this message
 
Old 09-25-2009, 06:45 AM
Senior Member
Status: "NY Yankees -- World Series Champions!" (set 23 days ago)
 
Join Date: Dec 2007
756 posts, read 256,709 times
Reputation: 222
KathyA11 has a spectacular aura aboutKathyA11 has a spectacular aura aboutKathyA11 has a spectacular aura aboutKathyA11 has a spectacular aura aboutKathyA11 has a spectacular aura about
Quote:
Originally Posted by MiamiRob View Post
Example: the county says your personal residence is valued at $100,000 for property tax purposes but as this is your personal residence they tax you at $75,000 instead.
Seniors get a additional $25,000 exemption off of their assesed value as well so in my example above that $100,000 assessed value is now assessed at $50,000 instead.
Rob, is the age for the senior exemption 65, or is it lower? And do both members of a married couple have to be 65, or does only one have to qualify? And is there an income restriction for the senior exemption?

I know what the answers would be here in NJ, but we have a very different way of assessing real property in NJ, and after spending over 30 years as a municipal employee (with much of that in the Tax Collector and Tax Assessor's offices) I'm still trying to wrap my head around the way Florida does it.
Reply With Quote Quick reply to this message
 
Old 09-25-2009, 07:25 AM
Licensed real estate professional
 
Join Date: Jun 2008
Location: Venice Florida
1,377 posts, read 990,635 times
Blog Entries: 1
Reputation: 629
FLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to allFLBob is a name known to all
Kerena is correct about the application of the the homestead deduction.
For a Florida resident claiming the homestead exemption, the first $25,000 of a properties value is exempt from taxation. The value from $50,000 to $75,000 is also eligible for up to another $25,000 of deduction. Each taxing authority can choose how much of the second $25,000 is exempt.
For a better description of the homestead exemption here's a government website FL Dept Rev - Property Tax Exemptions

Miami Rob is also correct that there is an additional $50,000 homestead exemption available in some counties for seniors.

Last edited by FLBob; 09-25-2009 at 07:42 AM..
Reply With Quote Quick reply to this message
 
Old 09-25-2009, 07:14 PM
Member
 
Join Date: Apr 2006
Location: Sacramento, California
52 posts, read 30,779 times
Reputation: 26
karena is on a distinguished road
Quote:
Originally Posted by FLBob View Post
Kerena is correct about the application of the the homestead deduction.
For a Florida resident claiming the homestead exemption, the first $25,000 of a properties value is exempt from taxation. The value from $50,000 to $75,000 is also eligible for up to another $25,000 of deduction. Each taxing authority can choose how much of the second $25,000 is exempt.
For a better description of the homestead exemption here's a government website FL Dept Rev - Property Tax Exemptions

Miami Rob is also correct that there is an additional $50,000 homestead exemption available in some counties for seniors.
Thank you very much FlBob. That was a very clear explanation. It is so nice to be able to understand what the current situation is.
Reply With Quote Quick reply to this message
 
Old 09-25-2009, 11:55 PM
Senior Member
 
Join Date: Jun 2007
2,743 posts, read 1,161,296 times
Reputation: 901
MiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to beholdMiamiRob is a splendid one to behold
Quote:
Originally Posted by FLBob View Post
Kerena is correct about the application of the the homestead deduction.
For a Florida resident claiming the homestead exemption, the first $25,000 of a properties value is exempt from taxation. The value from $50,000 to $75,000 is also eligible for up to another $25,000 of deduction. Each taxing authority can choose how much of the second $25,000 is exempt.
For a better description of the homestead exemption here's a government website FL Dept Rev - Property Tax Exemptions

Miami Rob is also correct that there is an additional $50,000 homestead exemption available in some counties for seniors.
FLBob thanks for clearing that up! I had no idea that the local taxing authority can choose as to how much to exempt on the second $25,000 exemption. In Miami Dade county as far as I know seniors got the full second exemption at 55 I believe.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.



Reply


Quick Reply
Message:

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Similar Threads


Go Back   City-Data Forum > U.S. Forums > Florida

All times are GMT -6. The time now is 12:25 PM.

Copyright © 2005-2009, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 - Top