House Shopping in Cape Coral (Fort Myers, Lee: city hall, buying a home, buying)

[JK2]

My wife and I are retired and currently looking at canal homes in Cape Coral. I'm seeing some rather high tax figures though, and wondered if it's the waterfront or the house size that's driving the numbers up. Most of the listings are 3 bed/2 bath homes, some with pools.

[NW Cape Coral]

We're currently building up in the NW cape. The taxes are better and its very quiet. So quiet the NW cape not for everyone. Prices are going up. I wish I bought more lots back in 2010.

[chiluvr1228]

Between the green/blue algae and the seawalls that crumbled after Hurricane Irma, I expect prices to be coming down shortly.

[SellinginFL]

To the OP - it's both waterfront and house size (in that the assessed value dictates the rate and generally both are higher for waterfront and house size). Cape Coral property taxes are much lower than across the river in Fort Myers but generally the more popular locations (SW, SE Cape) have much higher assessed values and the properties may be owned by out-of-state parties making them ineligible for homestead exemptions. Have you only been looking in the southern part of the city? You may find that property taxes are cheaper in the northern part of town. Again, keep in mind that taxes may be impacted by UEP assessments, homestead, and Save Our Homes (portability), etc. You don't mention if you're going to be retiring here full-time or only purchasing a winter home but note that if you make the move full-time you will be eligible for lower property tax rates than the current property owner if they live out-of-state and are not eligible for homestead. LEEPA has all of that information and can be viewed on the TRIM notice available on their website. I hope this helps.

[Marc Middleton]

I just wrote in another post why the current owner's taxes don't apply to you.

And switching areas might save you what, a few hundred bucks a year in taxes? Seems silly to avoid a home based on that.

[Taratova]

Originally Posted by SellinginFL

To the OP - it's both waterfront and house size (in that the assessed value dictates the rate and generally both are higher for waterfront and house size). Cape Coral property taxes are much lower than across the river in Fort Myers but generally the more popular locations (SW, SE Cape) have much higher assessed values and the properties may be owned by out-of-state parties making them ineligible for homestead exemptions. Have you only been looking in the southern part of the city? You may find that property taxes are cheaper in the northern part of town. Again, keep in mind that taxes may be impacted by UEP assessments, homestead, and Save Our Homes (portability), etc. You don't mention if you're going to be retiring here full-time or only purchasing a winter home but note that if you make the move full-time you will be eligible for lower property tax rates than the current property owner if they live out-of-state and are not eligible for homestead. LEEPA has all of that information and can be viewed on the TRIM notice available on their website. I hope this helps.

When buying a new home and getting the homestead exemption , you get a break of up to $50,000 in the accessed value. If buying a home that was under the 3% cap for many years and the taxes are low for the owner who is selling, it will be adjusted to a much higher assessment (current assessment of property value of today) taking much of the reduction away from the $50,000 tax break. I don't want any new buyer to be surprised of the higher number on your tax trim . Values have gone up the last few years.

[FireStation46]

Red Tide is not going away anytime soon.

The President approved the reservoir $1Billon south of Lake O as part of the solution. Longer term they have to figure out other fixes i.e. management of fertilizer use residential, commercial, industrial. That will not be easy.

So, if you can put up with the algae solutions wait and your sea wall is in top condition, good luck in your search!

Keep us posted on what you do.

[Taratova]

I hope we don't have that Socialist get into office as governor.. he will tax us to death.

[LifeIsGood01]

Cape Coral has high taxes because of all the city bureaucracy and the huge city hall and large police department and all of the other offices that intrude on you and try to run it like a giant HOA.

And if you are buying in an area that is not built up in the main part of the city make sure the assessments have been paid for sewer and city water of that will cost you $10s of thousands more.

[Marc Middleton]

Originally Posted by Taratova

I hope we don't have that Socialist get into office as governor.. he will tax us to death.

You can always move to a state with REAL taxes like NJ/NY/CT/MA/CA/RI