Tchrep |
07-07-2021 07:49 PM |
Relocating from NY to back to Florida -
Quote:
Originally Posted by OrangeBlossomBaby
(Post 1969212)
No, your taxes don't get raised "indiscriminately." There's a thing called Homesteading.
Basically here's how it works:
You buy a home, you get assessed, the tax is $xxxxxx/year.
BUT - you apply for homesteading by the deadline. That means you are using that specific home as your primary residence for a minimum of 6 months and 1 day every year.
When you do that, you get a DISCOUNTED property tax.
So it's not that non-homesteaders pay more, it's rather that homesteaders pay less. It's a matter of perspective.
This is part of how Florida can get by without income tax. The property taxes for the state are somewhat high, UNLESS you live in the state most of the year.
There are also rules about owning multiple properties in Florida that affect homesteading. You'd have to look that up though, I only know the rules exist, and don't know what the rules are.
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Thank you very much for your reply It has cleared up my misunderstanding.
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