Property Taxes - Investment vs. Homestead

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Real Estate Agent with Marc It Sold!

In the last newsletter, I wrote about the City of Apopka proposing a tax hike. (You can read it here.) What's more interesting is that TRIM (Truth in Millage) Notice that was just sent out shows this increase in both sections whether there is a proposed budget change or no budget change. So, I guess they'll have their public hearings, but really do they mean anything?

Now I must admit that I'm thrilled with the several hundred dollar savings that I'm noting in investment properties. On the other hand, many people that have lived in their home for a while will note tax increases. This is partly due to the ‘recapture provision' of Save Our Homes homestead. It's interesting because the taxable value of my home rose $93, yet my taxes will rise a minimum of $63 to a maximum increase of $113. Huh!!

Here is some great information that the Seminole County Property Appraisers Office put together in regard to taxes, the millage rate, homestead exemption, portability, etc.

Till next time...Marc It Sold!

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Topic:
Real Estate General Information
Location:
Florida Orange County Apopka
Tags:
property taxes
homestead exemption
save our homes
millage rate
truth in millage
trim notice
city of apopka
recapture provision
porta

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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Let's all just face it Marc.  The counties are so anxious to collect a few dollars from any source they can, they just put their hands in any pocket they can and use the good old "smoke and mirrors" to the extent they can to confuse. 

How many are going to examine their assessment statement as you did?

Aug 25, 2009 02:53 AM #1
Rainer
209,246
Marc Grossman
Marc It Sold! - Longwood, FL
GRI, Greater Orlando Real Estate Broker

Lenn - You are so right & I love the fact that they can do it so easily calling it a rollback, even though in all essence it's still a rate increase.

Aug 25, 2009 06:24 AM #2
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Rainer
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Marc Grossman

GRI, Greater Orlando Real Estate Broker
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