Quote:
Originally Posted by EdFNJ
When you look at the taxes of a RESALE home they are based on what that owner paid for it. Our taxes doubled because the original owner was protected by the "Florida Save Our Homes" CAP over the previous 9 years based on what HE paid for it. We start that over based on our price. Our agent said the taxes were $900 when we asked, which was true, but they turned out to be $1800 when we closed based on OUR purchase price not the first/previous owner. Even at 2X 1 year was equal to 1 1/2 months up north so no complaints.
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There is a thing in Florida called
Portability. If you already owned a home in Florida, and transfer your homestead exemption to your new home. you subtract the market value of your old home from its assessed value and that figure is now portability. subtract that number from the sale price of your new home.... and you now have a lower taxed assessed value on your new home, plus subtract homestead and
wah la......
your tax rate is a lot less there your neighbor from out of state.
Not everyone buyer knows this information, but your Realtor should tell you this. Its simple paperwork.... Check it out on Sumter/Lake county tax site.