How
Much are my Taxes?
 As
a rule of thumb, your tax is roughly
2% of your purchase price. If the purchase
price of the property is $200K the tax is
roughly $4K a year.
The
actual calculation for yearly property tax
is the assessed value of the property multiplied
by the millage rate minus any homestead
exemption. A "Mill Rate" is the
amount of tax paid per dollar of the assessed
property value. In the Tampa Bay area mill
rates vary anywhere from 16 mills to 24
mills.
Your
tax will be based on the assessed property
value after you purchase the property.
What is Homestead Exemption?
Homestead exemption is a Florida constitutional
benefit of a $50,000 exemption deducted
from the assessed value of your property.
Who Qualifies?
Anyone who owns real property in the State
of Florida and makes it his or her permanent
home as of January 1st is eligible for homestead
exemption that year. You must file an application
with the Property Appraiser. You are entitled
to one homestead exemption.
When moving into a new home, you will need
to file for Homestead Exemption in person
at the Property Appraiser office in your
county. You need to take with you the following
items:
• Deed to Property
• Florida Driver's License
• Florida License Tag Registration
• Social Security Card
• Voter Registration Card
If you are married, you will need this
information for both husband and wife.
Applications may be filed from January
3. The deadline for filing is March 1; the
postmark must comply with the legal requirements.
If the deadline is missed, you will have
to wait until next year and file a new application
to receive these tax-saving exemptions.
Property taxes are reduced by Florida's
exemption laws, which frees a portion of
the home's appraised value from any taxation
except for special benefits such as voted
bond millages, street improvements and the
like. Every qualified resident is entitled
to Homestead Exemption, freeing $50,000
of appraised value from all taxing bodies.
Florida's Constitution and Statutes provide
a measure of a tax relief to permanent residents
who own their property. Each year between
the deadlines, you must apply for the exemptions
for which you are eligible. A failure to
file on time is a waiver of your right to
exemptions for that year. After the first
year in which you apply, the Property Appraiser
will send out renewal cards. If you do not
receive a renewal application, you may pick
one up at your local post office or one
of the Property Appraiser offices in your
county.
Where to File:
Hillsborough County
Downtown Office
16th Floor, County Center
601 E. Kennedy Blvd.
Tampa, FL 33602
Brandon Branch Office
Bay Plaza 1, Building 9225, Ware Blvd, South
of Highway 60
Tampa, FL 33619
Northwest Branch Office
Westgate Plaza Shopping Center
12086 Anderson Rd., Ste 105
Tampa, FL 33625
Plant City Branch Office
302 N Michigan Ave.
Plant City, FL 33566
South County Branch Office
Sun Point Shopping Center, Ste 2B
3018 S.R 674
Ruskin, FL 33570
Pasco County
Pasco County Courthouse
38053 Live Oak Ave., Ste 130
Dade City, FL 33523
Tel: 352.521.4433
Pasco County Governtment Center
7530 Little Rd., Room 130
New Port Richey, FL 34654
Tel: 727.847.8151
Pasco County Appraiser
4111 Land O' Lakes Blvd., Ste 206
Land O' Lakes, FL 34639
Tel: 813.929.1280
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Taxes, CDD, HOA, and Homestead: |
 |
What
is a CDD? |
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What
is an HOA? |
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How
much are my Taxes?
What's a Homestead? |
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Copyright 2008
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