In Florida once your taxes are established at the assessed value (sale
price) of the house, they can not be increased more than 3% per year
regardless of any increased value or change in the mil rate. If you do any
remodeling or expansion to the house, that will change your assessed value.
David
-----Original Message-----
From: Gudguyham@aol.com [mailto:Gudguyham@aol.com]
Sent: Sunday, July 29, 2007 8:43 AM
To: dhallam@rapidsys.com; Amps@contesting.com
Subject: Re: [Amps] FW: economics 3501
In a message dated 7/29/2007 8:20:29 A.M. Eastern Daylight Time,
dhallam@rapidsys.com writes:
As an aside on taxes, there is an "interesting" situation
developing here in Florida over property taxes. Property is assessed at
the
sale price. Once the value is set, taxes cannot rise more than 3% per
year
as long as you live in the house. If the property changes hands, the
assessed value becomes the new sales price.
Hey come on, this happened to me 21 years ago in Connecticut. When I
bought my house in the early 80's the real estate agent told me what the
taxes were on the house and property. Typically they would put that figure
right on the house real estate listing. After all, people need to budget,
and know what their taxes are going to be. Well, shortly before I bought
the house our town hired a NEW tax assessor. Well the house had been owned
by the previous owner for some time, I come along and pay a lot more than he
did some years back. Ok, no problem, but after I bought the house, the tax
assessor sent me a whole new tax bill based on the sale price of the house.
I complained, but he showed me right in the laws where he had the "power" to
do that. The previous assessor was a "nice guy" and he didn't do that. He
let the house get re-assessed when the whole town got its assessment
upgrade every 7 years. SO new buyers got a free ride for a few years
anyway. If you investigate this I am sure you will probably find they have
been able to do this already. Lou
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