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Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
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Old 07-05-2013, 08:39 AM
 
518 posts, read 1,232,107 times
Reputation: 213

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In a rising value market as of today it is always better to get homesteaded as soon as possible. Nobody knows the future and with interest rates rising that could stall things again. Which would reduce prices and taxes. The government messes with a lot of things in Florida to try to keep taxes up. Mill levy ect. Some even have started taxing your electric bills to make up for lost home taxes. Cape Coral just passed a 7% tax junk fee on all electric bills. Florida is a very hard state to figure out with its ups and downs. Years ago it was pretty stable you got homesteaded and it slowly went up over the years and you were safe. Good luck with new home and just enjoy it. It is only money.
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Old 07-05-2013, 10:35 AM
 
Location: The "other" West Coast - in Florida
213 posts, read 576,104 times
Reputation: 130
Quote:
Originally Posted by sware2cod View Post
They assess based on comparable properties SOLD (comps)...not based on what you paid. If you got a great deal your assessed value might be higher since they are based on comparable properties. Assessed values are usually lower than what you pay, but not always. If you pay 400k, your assessed value might be 350k.
Interesting - back in CA your assessment follows the purchase price of the house - the +/- appreciation/depreciation with limits on much it can go up. So a house you're in for a very log time can be taxed on a very low/old tax rate - but a new purchase automatically resets it to what you paid/current market.
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Old 07-05-2013, 11:03 AM
 
Location: Ohio/Sarasota
913 posts, read 2,362,940 times
Reputation: 447
If I remember correctly, there is a cap on the non-homestead tax increase.
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Old 07-05-2013, 11:41 AM
 
Location: Miami Metro
1,015 posts, read 1,655,925 times
Reputation: 890
Quote:
Originally Posted by Cardiff by the Sea View Post
Hubby and I are considering buying a house, renting it out for two years, and then moving in. (Complicated reasons not worth going in to)

The mortgage guy we talked to estimated property taxes at 1.25% of purchase price. Does this sound right?

Coming from a state that has legal limits the annual increase on property taxes, the idea that the assessor can assess it your property at whatever he or she wants is a little scary.

We think someone told us that the the assessor tends not to increase the value as quickly on an owner occupied home than a rental property. Did we misunderstand or make this up or is it true?

It would be in zip 34239 if that makes any difference.
If you like low taxes, you've moved (or moving) to the right place.
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