[Iowa+Florida]

Are property taxes different for a florida resident vs out of state resident who owns condo or home?

[Songbird42]

If out of staters don't have Fl. homestead exemption, they will pay higher taxes.

[pianogal]

Originally Posted by Iowa+Florida

Are property taxes different for a florida resident vs out of state resident who owns condo or home?

Under the current law, Florida residents can apply for a 25K homestead exemption before December of the first year they own their own. The following year they will also be eligible for Save Our Homes. Which means their taxes can go up no more than 3% a year. I feel sorry for those in our neighborhood who do not qualify for homestead or SOH. This year the city of Orlando took our assessed value up an average of 100K - mine went from 274K to 375K. That means an ADDITIONAL increase of 2K in property taxes this year alone!

I would NEVER buy a 2nd home in Florida under the current tax system unless I had money to burn.

[Retiredcoach]

Originally Posted by pianogal

Under the current law, Florida residents can apply for a 25K homestead exemption before December of the first year they own their own. The following year they will also be eligible for Save Our Homes. Which means their taxes can go up no more than 3% a year. I feel sorry for those in our neighborhood who do not qualify for homestead or SOH. This year the city of Orlando took our assessed value up an average of 100K - mine went from 274K to 375K. That means an ADDITIONAL increase of 2K in property taxes this year alone!

I would NEVER buy a 2nd home in Florida under the current tax system unless I had money to burn.

The cost of being a part-time homeowner in Florida is cost prohibitive. The property tax system is regressive and punishing to anyone looking to buy a Florida home as a new resident. The SOH is great for the current residents, but where else in the country could a person purchase half the house and pay double the taxes as their neighbor?

[logybogy]

This article might help you understand the inequities.

Property-tax landscape is far from being even

[pslOldTimer]

In addition to the property tax inequities, some municipalities walk all over the absentee taxpayer. Talk about taxation with no representation! Non-residents obviously can't vote in Florida, so politicians do whatever they want to them without fear. In fact, every tax or fee that is paid by an out-of-stater makes the politician into a local hero, because that's a dollar that the resident doesn't have to pay.

Case in point, there are thousands of vacant lots in Port St. Lucie. Each is owned by someone, somewhere in the world. There are special fees for maintenance of drainage swales and canals. These are higher for the owners of vacant property than they are for improved property. The official reason is that the resident maintains his own swale, but the real reason is, "because they can."

[Prichard]

There really is no difference for out-of staters with regard to property taxes.

For out-of-staters moving to Florida permenantly, there are no differences. You can establish homestead right away. If you are buying rental properties or a vacation property, then you won't have the advantage of the homestead exemption, but neither do other Floridians buying 2nd homes within this state.