Property taxes between counties (real estate, car insurance, purchase)

[docbest74]

My wife and I are about to start searching for our first house. We currently live on the border of pasco and hillsbough county. People have told us "by in pasco...the taxes are cheaper"

We are not able to find any information on what the taxes are so we are not able to really compare?!

This is our first purchase so we are kind of learning all this as we go...any information would be greatly appreciated!

[Nav]

Pasco is definitely cheaper than Hillsborough. Not only property tax, but also automobile insurance.
To get an estimate, go to the property appraiser's web site for pasco and locate a property similar to what you are looking for. Find the assessed value, then check the tax rate. Next go to hillsborough's property appraiser web site. Use the "property tax estimator" tool on the main page and enter the same assessed value as your pasco sample. It will give you the estimated property tax. Compare the 2 numbers and dont forget to look at the Ad valorems as well.
for car insurance, just call one of the insurers and ask for a quote on insurance in both counties.

Nav

[TampaKaren]

Well...maybe. The millage rates in Pasco are lower than Hillsborough but there are 69 different taxing districts. So, where you live will depend on your taxes. All real estate taxes in Florida are calculated the same way...

Assessed Value - Exemptions = Taxable Value
Taxable Value x Millage Rate = Tax Amount
Tax Amount + Special Assessments = Total Tax Bill

In addition, many homeowner insurance companies in Pasco County will require sinkhole insurance which depending on location, can be mighty steep.