[debbruce]

We purchased our home in Port Orange on January 11, 2007. I've been told that our tax bill for this year will be based on the assessment that existed on 1/1/07. My question is this -- the home's assessment was:

105,000
-25,000 homestead exemption
-500 widower's exemption
_______
79,500 taxable assessment

Will our taxes be on the 105,000 or the 79,500?

Thanks for your help,
Debbie

[macguy]

Originally Posted by debbruce

We purchased our home in Port Orange on January 11, 2007. I've been told that our tax bill for this year will be based on the assessment that existed on 1/1/07. My question is this -- the home's assessment was:

105,000
-25,000 homestead exemption
-500 widower's exemption
_______
79,500 taxable assessment

Will our taxes be on the 105,000 or the 79,500?

Thanks for your help,
Debbie

Here is the whole problem in a nut shell. After buying a house you are now asking a question like that. Don't you think you should have a personal knowledge and understanding of everything about and relating to the deal and not just what someone on here says or what you have been told, BRFORE you signed the first piece of paper?

[debbruce]

Actually it will make very little difference whether this year's tax bill is on the lower or higher amount - I asked out of curiousity. I already know and understand that next year's tax bill will be based on our purchase price and have a good idea of what that bill will be. That is the important one, since that will be the basis of all future years. Was just curious about how much of a tax break we will get for this year.

Sorry if the question bothered you!

Debbie

[TerryRiddle]

Have you tried the Volusia County Property Appraiser's website? You should be able to look up your home there and see its taxable value. That office can help you with any of your questions.

[daniellefort]

I know we pay taxes on the amount after the exemption but i don't know if it's like that statewide or not.

[debbruce]

Thanks TerryRiddle & daniellefort - I'll check the Volusia web site.

Debbie

[bigtone]

I had the same situation with my home in Marion county. I bought it in May, and I ended up getting the homestead exemption even though I didn't qualify for it. Might be best not to remind them.....

[Hero]

Originally Posted by macguy

Here is the whole problem in a nut shell. After buying a house you are now asking a question like that. Don't you think you should have a personal knowledge and understanding of everything about and relating to the deal and not just what someone on here says or what you have been told, BRFORE you signed the first piece of paper?

thanks for the edjumacation professor

[macguy]

Originally Posted by Hero

thanks for the edjumacation professor

I was totally serious. I was at the assessors office and saw people there who actually thought they paid what the last owner paid. One woman was hysterical when she heard what her taxes were going to be. You wonder how some of these people even had the brains to get the money to buy in the house in the first place.

[MiamiRob]

Originally Posted by debbruce

We purchased our home in Port Orange on January 11, 2007. I've been told that our tax bill for this year will be based on the assessment that existed on 1/1/07. My question is this -- the home's assessment was:

105,000
-25,000 homestead exemption
-500 widower's exemption
_______
79,500 taxable assessment

Will our taxes be on the 105,000 or the 79,500?

Thanks for your help,
Debbie

debbie i'm a realtor and your property taxes will be based on your exemptions so $79,500 is right. Hope that helps!