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Hello i am looking to buy a house in the keys preferrably near islamorada and was looking in the $2-3,000,000 range and was wondering what would the property taxes be on a house in this range? any help is greatly appreciated
I have no clue, but they'd be high as heck, I know that! Consider this, my house is 1700 sq ft in Orlando, valued at about $298k (months ago, less now probably) and my property taxes are like 4k.
Find a house, get the address and then check out the property tax appraiser website for that county. That will give you an idea, but for those prices it will be a pretty penny. Also insurance will be steep too in the Keys which is so susceptible to hurricane effects.
Ok there are a few answers for this one. If this house doesn't qualify for homestead exemption for you, then the taxes will be $40,000-$60,000.
Now if you do qualify for homestead exemption there are two prices. One being $25,000 exemption or the $50,000 exemption that just passed but they are fighting it so not sure if will become final. So subtract either of those numbers from the sale price and two precent of that number will be your taxes. For example a $3,000,000 - $50k is $2,950,000, 2% of that is $59,000 a year, so thats about how much your taxes will be. I hope this helps.
Quote:
Originally Posted by gdude
Hello i am looking to buy a house in the keys preferrably near islamorada and was looking in the $2-3,000,000 range and was wondering what would the property taxes be on a house in this range? any help is greatly appreciated
Would you adopt us? Any help would be appreciatedLOL
Quote:
Originally Posted by gdude
Hello i am looking to buy a house in the keys preferrably near islamorada and was looking in the $2-3,000,000 range and was wondering what would the property taxes be on a house in this range? any help is greatly appreciated
If you can afford a 2-3M house you do not need to be concerned with property taxes. The amount in Monroe County is roughly 1.5% x purchase price. So you will pay rent to the Government of 30,000-45,000 per year. That's pretty stupid isn't it?
Ok there are a few answers for this one. If this house doesn't qualify for homestead exemption for you, then the taxes will be $40,000-$60,000.
Now if you do qualify for homestead exemption there are two prices. One being $25,000 exemption or the $50,000 exemption that just passed but they are fighting it so not sure if will become final. So subtract either of those numbers from the sale price and two precent of that number will be your taxes. For example a $3,000,000 - $50k is $2,950,000, 2% of that is $59,000 a year, so thats about how much your taxes will be. I hope this helps.
This would be in Monroe County - couldn't find the tax calculator, but can give you the link for Broward County - at least this will give you a ball park . . .
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any help is greatly appreciated
LOL
