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Answers (4)
- Lee Gerhard, "Leegerhard"
- Contributions:44
Yes, However the current home prices are at an all time low. You are taxed on the price you pay not the current tax value.
Lee Gerhard
Realtor
ReMax Midway
909 W Midway Rd
Fort Pierce, Fl 34982
Lee Gerhard
Realtor
ReMax Midway
909 W Midway Rd
Fort Pierce, Fl 34982
- Jeff Konstant, "jkonstant"
- Contributions:1970
Yes, if you can claim the exemptions available for residents your taxes will be lowered signficantly. With values still in decline that does not necessarily mean property taxes will not continue to go down as most localities have seen delinquencie rise and revenues decline. Many are considering an increase in the millage rate to cover someof the losses.
- Georgina OBryan, "GOBryan1"
- Contributions:483
Keep in mind that you get a Homestead Exemption on the property you live in, so that's a savings. Also, some people have the "Save our Homes" credit along with other exemptions.
With that said, the taxes on your primary is usually cheaper, however, it is based on the assessed value of the home and property taxes are cheaper in some counties and more expensive in others.
Depending on all the components involved, it may or may not be cheaper on the primary home vs a second home.
With that said, the taxes on your primary is usually cheaper, however, it is based on the assessed value of the home and property taxes are cheaper in some counties and more expensive in others.
Depending on all the components involved, it may or may not be cheaper on the primary home vs a second home.
- Joan Lorberbaum Moore, "Joan Lorberbaum Moor"
- Contributions:43
In Palm Beach County, Florida property taxes start out based on the purchase price of the property. I quote my buyers that they will be approximately 2% of the purchase price.
If a buyer is claiming the property as their primary residence, thus claiming a Homestead exemption, then their property values are capped at 3% yearly which is based on property values. We have seen property taxes decrease in recent years for both Homesteaded and non-Homesteaded property.
Here'a link to a page on the Palm Beach County's Property Appraiser's office that will more fully explain exemptions:
http://www.co.palm-beach.fl.us/papa/NHB.htm
If a buyer is claiming the property as their primary residence, thus claiming a Homestead exemption, then their property values are capped at 3% yearly which is based on property values. We have seen property taxes decrease in recent years for both Homesteaded and non-Homesteaded property.
Here'a link to a page on the Palm Beach County's Property Appraiser's office that will more fully explain exemptions:
http://www.co.palm-beach.fl.us/papa/NHB.htm
Do you pay more real estate taxes if you purchase a home in Florida as a 2nd home versus primary?
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