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Topic Title: who knows how to calculate property taxes
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Created On: 10/28/2017 02:12 PM
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 10/28/2017 02:12 PM
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tingo

Posts: 2251
Joined: 09/22/2004

Im purchasing a new home and nobody knows how to to calculate the new taxes on the property.

 

It will be my primary residence so i will get homestead exemption 

plus there is this thing called portabilility 

 

I can give you my address in Palm Beach county tax collector plus the price of new home

 

Thanks!!!

 10/28/2017 04:41 PM
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RegularJoe

Posts: 3093
Joined: 11/20/2011

I think the first year's taxes (the rest of this year) have been pre-paid by the current (previous) owner, and you will pay that out at closing, at the rate they paid.

Next year's appraisal is probably at the purchase price, so everything next year will be based on that.

The property tax you'll pay is local to your municipality, including city and county portions, plus fees (like emergency services, utilities, garbage pickup, etc...)

You should be able to look it up on your county property appraiser's or tax collector's web site.

Brevard County used to have it all in one convenient place, but now I can't find it. They also had a calculator for the exemption portabilty, but I can't find that anymore either.

When I sold and moved 3 years ago, we moved to a rental house I already owned, but the portability still applied. I called a human at the tax collector's office, and she was very helpful running all the data. Someone at your county's office ought to be able to do the same.

I'll TRY to figure some of that out for you and your county if you PM me the data (need old house assessment to calculate the portability, plus the new house info).

Best of luck to ya.
 10/28/2017 04:53 PM
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surferclimber

Posts: 1044
Joined: 01/23/2011

All you need is the milage rate: look up the current owner's tax bill from 2016 or whenever and figure out that rate as a ratio  as total taxes paided to appraised valuer taxedon ... then multiply that by your expected apprised value ( not necessarily the same as what you paid nor the value your mortgage company calls apprised value if you have a mortgage as the counties tend to be little lower)



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 10/29/2017 04:17 AM
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tingo

Posts: 2251
Joined: 09/22/2004

The curent owner is an corporation, so no homestead exemtion or portability is given to the current owner so I cant use their taxes as a base..

Plam Beach County tax offive does have the program to calculate the exemption and portability but noone with great certainty know what numbers  and where to put in the program.  My realtor is calling the tax collector Monday. Even the mortage guy wasnt 100% sure.  

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