Why Government needs to change the way they tax property

[Ben Franklin]

Florida governments set property taxes for the current year by September 30th. This means that if you purchased your home, on say, July 1st, then at closing, the seller pays the taxes for the first 6 months, based on last year's tax rate. Even though you didn't own your home, for the first 6 months, you are required to pay the difference between the old tax rate and the new tax rate, for something you didn't even own.

Government needs to change their system, so that they create budgets for the next year by September 30th and collect that tax in the next year, so we don't have to pay for something we didn't even own.

Thoughts?

[dewilson58]

Minor issue.


Next.

[Arctic Fox]

What about those of us who live there less than half of the year and have to pay the whole amount, without any "homestead" reduction?

We're happy to do so, as the more complicated you make a taxation system the more money goes on running it.

(Well, maybe "happy" is the wrong word - "willing" would be nearer the truth.)

[Ben Franklin]

Minor issue.


Next.


So, do you often pay, say roughly $180, for something you never get, or owned?

[Bogie Shooter]

Florida governments set property taxes for the current year by September 30th. This means that if you purchased your home, on say, July 1st, then at closing, the seller pays the taxes for the first 6 months, based on last year's tax rate. Even though you didn't own your home, for the first 6 months, you are required to pay the difference between the old tax rate and the new tax rate, for something you didn't even own.

Government needs to change their system, so that they create budgets for the next year by September 30th and collect that tax in the next year, so we don't have to pay for something we didn't even own.

Thoughts?
Thoughts? Call you state Rep.

[Ben Franklin]

What about those of us who live there less than half of the year and have to pay the whole amount, without any "homestead" reduction?

We're happy to do so, as the more complicated you make a taxation system the more money goes on running it.

(Well, maybe "happy" is the wrong word - "willing" would be nearer the truth.)

Those of us who live here year round support the economy year round, Plus, we pay 7% tax on items that are tax free in other states.

I think creating a budget, for the year the money will be spent, and collected, is a simplified way. I don't see anything complicated about it.

[Ben Franklin]

Thoughts? Call you state Rep.

Bogie, I've been calling and writing "representatives" for years and years. Letters are never read by "representatives," they are answered by staff members. I have, on occasion, talked with a "representative" only to be placated. What "representatives" pay attention to is bribes, aka campaign contributions, and/or blocks of people, usually.

[Bogie Shooter]

Bogie, I've been calling and writing "representatives" for years and years. Letters are never read by "representatives," they are answered by staff members. I have, on occasion, talked with a "representative" only to be placated. What "representatives" pay attention to is bribes, aka campaign contributions, and/or blocks of people, usually.

Then what do you expect the members of TOTV to do?

[CWGUY]

Bogie, I've been calling and writing "representatives" for years and years. Letters are never read by "representatives," they are answered by staff members. I have, on occasion, talked with a "representative" only to be placated. What "representatives" pay attention to is bribes, aka campaign contributions, and/or blocks of people, usually.

:shocked: Could the Sumter Co. "Commissioners with questionable loyalty" fall into that group? Is it possible? :icon_wink:

[eyc234]

Would agree with the logic but the reality is once government gets their hands on your money it is nearly impossible to get it back. Look at SS, when you pass they take your SS payment back for that month. Not too sure about the bribes but government probably does not see this as a big enough issue.

[pauld315]

////

[pauld315]

I have owned property in 6 different states and they all do this, it is not just FL.

[Arctic Fox]

Supposing the tax rate went down?

[dewilson58]

So, do you often pay, say roughly $180, for something you never get, or owned?




It's such a minor, whiny, issue.
The County Budget is +$100mil.
Why mess around with (even) 100 $180 issues.


Next.

[daddymac1127]

The problem is that we have politicians who know nothing about financial issues (most are multi- millionaires) not only determining budgets but hiring their cronies who then determine what the budget needs to be.

[Moderator]

The topic is the process to determine property taxes owed for the year in which a sale occurs.

Please stay on topic,

Moderator

[Marathon Man]

If they change this tax, they will change something else to make up the difference. Considering how many times I purchase a home, I don't see anything worth worring about.

[OrangeBlossomBaby]

Not sure why government has to make the changes. You can accommodate all this at the point of sale.

In the two properties we've bought in the north, and the one we've sold (so far), the tax bill was pro-rated to the buyer.

Our tax bills aren't January-December, and I can't really remember what the months are. But hypothetically since it's easier to follow the math:

If our tax bill is $1200 for January-December and *closing date* on our sale of the house is March, then the new owners will owe March-December, or $1000. Our piece of the tax debt would be $200 for January and February.

It's built into the sale agreement, not government mandated.

[Ben Franklin]

[QUOTE=Jazuela;1684129]Not sure why government has to make the changes. You can accommodate all this at the point of sale.

In the two properties we've bought in the north, and the one we've sold (so far), the tax bill was pro-rated to the buyer.

Our tax bills aren't January-December, and I can't really remember what the months are. But hypothetically since it's easier to follow the math:

If our tax bill is $1200 for January-December and *closing date* on our sale of the house is March, then the new owners will owe March-December, or $1000. Our piece of the tax debt would be $200 for January and February.

I don't understand why people want to pay extra money without asking or demanding government change it's budget dates.

Taxes are paid in arrears, so if you buy your house in March, the sellers are responsible for paying their taxes for Jan, & Feb., at the previous years rate, not the new tax rate. You then are responsible for making up the difference for Jan. & Feb., since the new rate will be voted on in Sept., which might not be much for two months, but if someone buys a house in December, they could conceivably pay over $300, which the previous owner should be responsible for, because they actually owned the home. $300 multiplied by how many people purchased a home and have to pay for the new tax rate, ends up being a big chunk of change.

It is mandated. The sellers always have to pay for the time they owned the house, they just aren't responsible for the new rate, for the time they owned the house. Closing companies just collect the tax for the government.