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Did Your Florida Real Estate Property Taxes go Down?

Florida Real Estate Tax News Upate... Your Florida real estate property taxes most likely went down. Florida residents will soon receive their "truth in millage" statements that give property owners information on next year's property taxes. But this year, almost 94 percent of Florida state homeowners will see some savings thanks to a new law passed during July's special session of the Florida Legislature. Counties in which property taxes rose the most over the past few years will see the greatest reduction of 9 percent. TRIM (truth in millage) notices can be detailed and hard to decipher, however. To calculate your personal savings, compare two columns: "Your Property Taxes Last Year" tells you how much you currently pay; "Your Taxes if PROPOSED Budget Change is Made" tells you how much the city or county plans to charge next year. Just subtract the former from the latter.

Posted by Michael Valdes on 08/22/2007 09:24 AM

Comments (7)

florida, real estate, taxes, property, homestead, news, update, reduction, propose, budget, millage, state, homeowner, law, counties, legislature

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7 Comments on Did Your Florida Real Estate Property Taxes go Down?

SEP

2007

I guess we will eventually find out what is going to happen, now that it looks like the current plan might be sent back to be changed to something we can all read and understand. We'll keep ours eyes open for some good news and hopefully some real relief from the inflated values they are trying to tax us off of.

OCT

2007

Unrelated, but good information, now is the perfect time to open a line of credit (costs nothing) and it enables anyone who has the equity to set it up (for a rainy day, if not needed today). Doing so today still gives someone some decent equity to leverage, as time goes on that available equity might deteriorate if the market keep contracting. Just a thought, Thanks Mike

OCT

2007

Mike,

You send out a great piece regarding market trends etc, to my personal site, why not share it on this space?

OCT

2007

Mike,

Do you do open houses? You could also use this site to post those and/or your listings. This is a great medium for communication. If you are looking to team up at an open house, I would be more than happy to help. Keep up the good work.

OCT

2007

Mike,

Looks like we have more activity regarding the property taxes, 1.5% max yearly increase and doubling the exemption to $50K, the petition is going around, just needs 611,000 to get it on the books. Lets hope we see some relief soon.

OCT

2007

looks like the pressure is mounting on our elected officials

OCT

2007

well it looks like a $50K homestead exemption and no more than 10% increase on other property. Not very strong.

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