We close mid November and are really getting excited :) (Sarasota: credit, homes)

[FLSnowbirds]

Can't come until Mid December but "can't wait"

I understand that the Taxing Authority portion of taxes are due June, Sept, Dec, and March if you go the installment route and all is delinquent March 31 of the following year. They still owe 2 quarters and that is shown properly on closing statement I received this AM. I owe for approxiamtely 13% of the calendar year 1/1 thru 12/31/2011.

What about the Non-Ad Volerem Assessments, are they due at a different time? On the closing statement it shows I owe for my portion of what's already been paid thru Sept 2012.

I know I can call but don't want to look totally stupid.

Thanks

[TamRE]

First of all, congratulations and I hope your move and the closing go well. Are you moving to Sarasota County, Manatee County, or Charlotte County? Taxes are paid in arrears and will be taken care of at closing. The current owner will pay for the taxes up until the day of closing and you will pay for the remainder of the year.

Here are the web sites for the tax collectors office with information regarding paying your taxes.

Sarasota -
Property Taxes

Manatee -
Manatee County Tax Collector

Charlotte -
Charlotte County Tax Collector - Property Tax

[FLSnowbirds]

Originally Posted by TamRE

First of all, congratulations and I hope your move and the closing go well. Are you moving to Sarasota County, Manatee County, or Charlotte County? Taxes are paid in arrears and will be taken care of at closing. The current owner will pay for the taxes up until the day of closing and you will pay for the remainder of the year.

Here are the web sites for the tax collectors office with information regarding paying your taxes.

Sarasota -
Property Taxes

Manatee -
Manatee County Tax Collector

Charlotte -
Charlotte County Tax Collector - Property Tax

Sarasota. I had already gone to the website and maybe didn't look properly but am confused by the Non-Ad Volerem Assessments. On closing statement shows they were already paid thru Sept. 2012, which is next calendar year.

I will call there if I can't figure out..

Thanks !

[Sunshine Rules]

The property tax bills are confusing because they consist of 2 portions that are on different time frames.

The ad valorem portion is based on a calendar year.

The non-ad valorem portion is based on a year running from October 1 thru September 30th. The non-ad valorem portion is not based on the appraisal value of your home, this portion is based on tax rates set by the various taxing authorities. These authorities include things such as fire rescue, SWFWMD (water management district), mosquito control, etc.

So if you are closing this month on the purchase of a Sarasota home, the seller is responsible for paying the 2011 property tax bill. You as buyers will owe back a credit to the seller for the portion of the ad valorem taxes from the November closing date to 12/31/2011 AND a credit back to the sellers for the non-ad valorem taxes from the November closing date thru 9/30/2012.

If you are making this your permanent residence, be sure to file for your homestead exemption before 12/31/11 in order to get the tax breaks for 2012.

[FLSnowbirds]

Originally Posted by Sunshine Rules

The property tax bills are confusing because they consist of 2 portions that are on different time frames.

The ad valorem portion is based on a calendar year.

The non-ad valorem portion is based on a year running from October 1 thru September 30th. The non-ad valorem portion is not based on the appraisal value of your home, this portion is based on tax rates set by the various taxing authorities. These authorities include things such as fire rescue, SWFWMD (water management district), mosquito control, etc.

So if you are closing this month on the purchase of a Sarasota home, the seller is responsible for paying the 2011 property tax bill. You as buyers will owe back a credit to the seller for the portion of the ad valorem taxes from the November closing date to 12/31/2011 AND a credit back to the sellers for the non-ad valorem taxes from the November closing date thru 9/30/2012.

If you are making this your permanent residence, be sure to file for your homestead exemption before 12/31/11 in order to get the tax breaks for 2012.

Okay now I get it, thanks. I noticed Sarasota county allows a 4% discount if you are able to pay in November 2011 for 2012 thats kind of nice if you have the dough. Thanks again

[Sunshine Rules]

You're welcome! Congratulations on becoming a homeowner in Sarasota county too! I hope everything goes smoothly with your closing.