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Fort Myers - Cape Coral area Lee County
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Old 07-30-2012, 06:01 PM
 
332 posts, read 655,282 times
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I know this is a very general question and the answer will vary but can someone give me a ball estimate of how much total annual taxes and flood insurance would cost on a decent house in Cape Coral? My wife is pushing for retirement is Las Vegas due to low taxes and no need for flood insurance, but I want to investigate CC some more. Any figures you can provide will help me very much. I realize every situation will vary. Thank you for your time and expertise.
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Old 07-30-2012, 06:31 PM
 
Location: Cape Coral, FL USA
616 posts, read 1,558,520 times
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Quote:
Originally Posted by Dino1 View Post
I know this is a very general question and the answer will vary but can someone give me a ball estimate of how much total annual taxes and flood insurance would cost on a decent house in Cape Coral? My wife is pushing for retirement is Las Vegas due to low taxes and no need for flood insurance, but I want to investigate CC some more. Any figures you can provide will help me very much. I realize every situation will vary. Thank you for your time and expertise.
Last year, ours was 2500 - not homestead 4bd 3 ba 2,031 sqft under air non-canal

Not sure on the insurance - we didn't pay it ourselves this year.
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Old 07-30-2012, 08:58 PM
 
Location: Port Charlotte, FL
3,979 posts, read 10,490,803 times
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If you look in the MLS it will tell you what the current owners are paying for taxes.

You can also do a search on the county web site for current property taxes on any property.

Property Tax Disclosure: Buyer should not rely on the seller's current property taxes as the amount of property taxes that the buyer may be obligated to pay in the year subsequent to purchase. A change of ownership or property improvements triggers reassessment of the property that could result in higher property taxes. If you have any questions concerning valuation, contact the county property appraiser's office for information. The home you are interested in purchasing may be homestead. Homesteading caps the tax assessments on the home during ownership. MLS records do not necessarily reflect current tax assessments.

Flood insurance - go to www.floodsmart.gov. Type in the address of the property you are interested in. It will tell you what the flood zone rating is and give you a range of insurance rates as well as insurance companies to contact.
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Old 07-31-2012, 06:56 AM
 
332 posts, read 655,282 times
Reputation: 433
Default Thank you very much

for sharing your time and expertise. Much appreciated.
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Old 07-31-2012, 08:22 AM
 
Location: Cape Coral, FL
646 posts, read 1,635,464 times
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Quote:
Originally Posted by Dino1 View Post
I know this is a very general question and the answer will vary but can someone give me a ball estimate of how much total annual taxes and flood insurance would cost on a decent house in Cape Coral? My wife is pushing for retirement is Las Vegas due to low taxes and no need for flood insurance, but I want to investigate CC some more. Any figures you can provide will help me very much. I realize every situation will vary. Thank you for your time and expertise.


You can look up taxes at leepa.org, if you have a specific property in mind or estimate them based on the mil rate by doing a tax estimator once you are in a specific property.
Estimated Sale Price:


Save Our Homes PortabilityIf you received a homestead exemption in the State of Florida on a home you sold or no longer claim as your homestead and purchase a new home within two years, you may be eligible to take some or all of your “Save Our Homes“ benefit to your new home. Visit our Tax Reform Information page for a detailed description of this and other benefits available to residents. For the Market Value, enter the full assessed value of your previous homestead. For the Assessed Value, enter the value of your previous homestead with your Save Our Homes benefit applied.
$150k purchase price
Estimated Assessed Value:

$ 135,000
Assessed ValueThe Tax Amount shown is an ESTIMATE based upon 90 percent of the Sales Price you entered and the current ad valorem millage (tax) rate applied to the property. The actual tax amount for this property may be more or less depending on a variety of factors including changes to the millage (tax) rate and the inclusion of non-ad valorem assessments (e.g. garbage, sewer etc.). The Lee County Property Appraiser's Office provides this Estimator as a service to the public and neither warrants nor certifies the tax amounts shown herein to be representative of current or future taxes.
Current Millage Rate:

21.2597
Millage RateThis is the tax amount per $ 1,000 of assessed property value.
Estimated Taxes:

$ 2,870

Estimated Taxes with Homestead Exemption:

$ 2,003




Now, this does not include non ad volerm taxes (for city assessments unpaid-add roughly 1k/yr).

As for Floor insurance, we currently pay $693/yr. Which, in my book, if you live anywhere in Florida, flood insurance is a MUST. It only takes two days of heavy rains to cause some property damage. For $58/mth I can be protected (Policies differ from property to property and area to area)

I hope this helps!
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Old 07-31-2012, 10:31 AM
 
Location: The Conterminous United States
22,584 posts, read 54,033,362 times
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Insurance is also based on the policyholder. If your credit rating is lower than the last guy you will pay more, if it is a lot lower, you will pay a lot more. On the other hand, since you are the new buyer your credit rating may be a heck of a lot better and the premium will be, too. Previous claims by the policyholder plays a part as well. So it is pretty futile trying to get a ballpark for insurance.

Regarding Vegas and Cape Coral, they are very, very different places. I would definitely choose the latter to live in, but wild horses couldn't drag me to Vegas. I'm not one of those anti-gamblers, mind you. In fact, I'm the type of gal that can go to these places and make out since I don't gamble (I'm too cheap!) but the seediness factor would keep me away. In contrast, Cape Coral has the second lowest crime rate in Florida.
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Old 08-01-2012, 02:24 PM
 
Location: Indiana and Cape Coral
282 posts, read 1,005,073 times
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Big difference between the two places! Cape Coral is more of a boating type community. I personally love it. Theres always something to do and always something going on!!
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