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Old 12-26-2011, 12:29 PM
 
24 posts, read 55,045 times
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Why is that Seminole County Tax office says there is a cap 3% per year they can only raise taxes but I've seen ppl say that they bought there home and taxes were 1200 and 2 years latter went up to 3000 per year? confused how is this a 3% raise?
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Old 12-26-2011, 04:00 PM
 
Location: Asheville, NC
12,626 posts, read 32,061,351 times
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Originally Posted by pa2az2012 View Post
Why is that Seminole County Tax office says there is a cap 3% per year they can only raise taxes but I've seen ppl say that they bought there home and taxes were 1200 and 2 years latter went up to 3000 per year? confused how is this a 3% raise?
The cap is 3% and it can't go above that. The reason the taxes may have jumped like that is because they lost their homestead exemption. This would happen if they rented the home out or it was no longer a primary residence. Some people may buy a home and the taxes may go up for those reasons or the previous owner had a Save Our Homes Credit. Most people who have that credit have been in their home for many years.

FYI, property taxes in FL are steadily declining. My taxes in 2004 were $1900, now they are at $1250. This is due to the declining values of homes here.
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