Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If you think the taxes are better in Florida, think again. If you haven't owned your home for at least 7-8 years you'll be paying as much as you would be in NJ. The way they determine property taxes here is crazy. The people who have lived here for 20 years in a house now worth $1M are paying the same as someone who bought a house for $300K last year. It's so regressive that it's pathetic.
what's your homeowner's insurance rates? they *could* be substantially larger in FL -vs- NJ depending on where you are. Ppl in Broward/Palm Beach Counties (and any county along the coast I would presume) could pay upwards of $6k yr.
what's your homeowner's insurance rates? they *could* be substantially larger in FL -vs- NJ depending on where you are. Ppl in Broward/Palm Beach Counties (and any county along the coast I would presume) could pay upwards of $6k yr.
It's also heavily dependent on whether you have proper hurricane protection--shutters, or hurricane windows (impact resistant), what kind of shape your roof is in and how old your roof is, etc. My parents, who are in Royal Palm Beach, were given a large insurance bill (maybe $4500 or $5000--I forgot the exact amount my mom had said), but simply had the insurance inspector come out. He saw their hurricane shutters, checked out their roof, etc., and their bill went down to just under $1000 per year.
Actually, we were looking at the most recent tax assessment year--you're given the year and the assessed value for that year. We were only looking at homes built in the 2000s. The assessed values were all much more than the current prices. Nope. That's false. While it can go up, it can go down just as easily. It depends on the property appraiser's assessment. Again, that's false in the sense that the property appraiser's assessment isn't done in isolation of the neighborhood, what it would cost to recreate your home, where it is, at market value, etc. The appraiser assesses the values for that property, in that neighborhood, for the time of the assessment, and then it's a simple matter of applying the millage rates. Now, your property could be worth significantly more (or less) than your neighbor's so it's not as if everyone in the neighborhood will be paying the same rate, but it's not as if the neighborhood has no bearing on it, either. If the property appraiser said that their home is worth 100k more and you're paying that much more, than there's something seriously wrong there. Of course. And that's not what I said, is it? I was talking about the properties that my wife and I were looking at, not properties in Palm Beach (which can be far more than 20k per year).
"Residential deputy appraisers use two approaches to value property, cost and market comparison. The cost approach estimates the cost to reproduce the house in current dollars. The market approach compares sales of similar properties and adjusts for any differences."
"Deputy appraisers inspect all existing houses at least once every three years. Between inspections, an individual property's value is adjusted annually due to recent sales activity in a neighborhood. Our building evaluators assess new construction or additions to an existing house."
So again, if you're paying that much more than your neighbors, for properties valued as you claim by the property tax appraiser, then there's something seriously wrong.
I could help inquire about your situation for you if you'd like.
You obviously don't understand the Florida Save Our Homes and homestead laws.
Assessed values can only go up 3% a year. So if you bought in 2000 for $100,000, your home can't be assessed right now for more than about $122K now (I'm not going to take the time to do all the math.) That means you will only pay taxes on $122K, even if your home is now worth $300K. If an identical house next door sells for $300K, they will be taxed on that, even though you will still only be taxed on the $122K. (Minus your $25K homestead exemption and for Florida residents in both cases.)
It's also heavily dependent on whether you have proper hurricane protection--shutters, or hurricane windows (impact resistant), what kind of shape your roof is in and how old your roof is, etc. My parents, who are in Royal Palm Beach, were given a large insurance bill (maybe $4500 or $5000--I forgot the exact amount my mom had said), but simply had the insurance inspector come out. He saw their hurricane shutters, checked out their roof, etc., and their bill went down to just under $1000 per year.
huh, i know of someone paying over $6k with all the "precautions" - new house too. interesting.
what's your homeowner's insurance rates? they *could* be substantially larger in FL -vs- NJ depending on where you are. Ppl in Broward/Palm Beach Counties (and any county along the coast I would presume) could pay upwards of $6k yr.
We can look at data for that too:
The costliest places to insure a home - MSN Money (http://moneycentral.msn.com/content/Insurance/P61312.asp - broken link)
Florida ranks #5, it is among the highest average homeowner insurance states with an average cost of $666/yr.
New Jersey fares better, a rank of #17 with an average homeowner insurance rate of $510.
So yeah ... on average you will pay $156 per year less on homeowner insurance in NJ.
what's your homeowner's insurance rates? they *could* be substantially larger in FL -vs- NJ depending on where you are. Ppl in Broward/Palm Beach Counties (and any county along the coast I would presume) could pay upwards of $6k yr.
I'm fortunate that I live inland and have a no home build above the current codes, so my home owners is the same dollar for protected dollar as it was in NJ.
You obviously don't understand the Florida Save Our Homes and homestead laws.
Assessed values can only go up 3% a year. So if you bought in 2000 for $100,000, your home can't be assessed right now for more than about $122K now (I'm not going to take the time to do all the math.) That means you will only pay taxes on $122K, even if your home is now worth $300K. If an identical house next door sells for $300K, they will be taxed on that, even though you will still only be taxed on the $122K. (Minus your $25K homestead exemption and for Florida residents in both cases.)
Right, but that doesn't mean that for purposes of your property taxes, your neighbor's property is valued 100k more than yours, which is what you said.
And again, my taxes could very well be lower than the amounts we saw, since we saw recent assessments for values far above what the market price was now.
i'm talking about people living in hurricane alley, they could be paying thousands more. i'm not speaking about florida as a whole.
Sure, and houses on the coastline in NJ or in floodplains in NJ might have the same problem. But surely those higher areas are factored into the state average, and so looking at state numbers is meaningful.
I don't know the definition of "hurricane alley" in Florida, but it sounds like with a house built to code and standards, homeowner insurance is not that bad even in coastal areas like Palm Beach.
Right, but that doesn't mean that for purposes of your property taxes, your neighbor's property is valued 100k more than yours, which is what you said.
And again, my taxes could very well be lower than the amounts we saw, since we saw recent assessments for values far above what the market price was now.
My neighbors house would sell on the open market for $100K more than mine. They pay 1/3 the real estate taxes I do. I'm not sure what is so difficult to comprehend.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
