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Property Tax in Florida. Part 1.
People moving to Florida often complain that the taxes are high. At least the majority of them. Then there are always people who say it is low compared to their place, so we are not the cheapest, but not the most expensive.
However, we need to keep in mind that the State needs money and they get it one way or another. So, if something is much cheaper in other places, the State has the way to get that money imposing some other fees or taxes.
People, who come from the Carolinas brag about their very low property tax, but do they really pay less than in Florida? In both South and North Carolina if you make between $50,000 a year, your tax rate on every dollar on income earned is 7% and you will pay to the State $3,500. Add it to the low property tax, and you may notice that you can afford a luxury villa in Florida.
Property tax in Florida is set by Counties and cities and is not unified throughout the State. Millage rates vary from County to County and average just over 20, meaning that your property tax would cost you approximately $20 per $1,000 of value.
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