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Honored Contributor
Posts: 33,522
Registered: ‎03-10-2010

Our property taxes are a year behind.  When a house is sold, the seller pays the real estate taxes up to the closing date of the sale and that money is subtracted out of the proceeds from the sale.  But the seller and buyer should both know that figure and do the math because the title company doesn't always get it right.

 

Our county just did a re-appraisal and most property values went up.  That means an increase in our real estate taxes.  I just got a letter in the mail yesterday about how much our home value increased. That in turn caused my real estate taxes to increase nearly $300.00 for the year. 

 

Our rental houses increased so much that I am going to file a complaint over the valuation. I dread how much our taxes are going to increase on those properties.    

Honored Contributor
Posts: 12,767
Registered: ‎05-23-2015

@fthunt wrote:

Received my check couple of months ago - not huge but I'll take it.........mailbox fear to see return address ....fear walking back to house...fear as you open and then WOOO   YEA   YE@fthun

Now the first of Sept school tax bill donkey is comes.  Don't think this one is going to be kind to me; but a possible refund next year.


@fthunt, yes my school tax bill will be coming any day now, and it is always major, but this does take some of the sting out of it.

" You are entitled to your opinion. But you are not entitled to your own facts."
Daniel Patrick Moynihan
Esteemed Contributor
Posts: 6,713
Registered: ‎02-22-2015

@151949 Doubt the Realtor would know in FL.  It's the homeowner's responsibility to find that information out from the County Assessor.

 

Hopefully, a good financial institution would have provided that information to him when completing the sale if taking out a loan, since taxes and insurance are paid at time of closing. His bank dropped the ball OR he wasn't listening. We always checked for ourselves when buying property. 

 

Have always been curious why FL doesn't re-evaluate every home annually or semi-annually? Seems like the State, schools, Fire and Police, etc., are loosing a lot of money by waiting to increase taxes on property until a sale goes through (often many decades later as in my sister and BIL's case).

 

ETA: I have no idea what neighbor's pay for taxes, insurance or anything else. We were  raised not to be curious about other people's finances or personal affairs. 

Esteemed Contributor
Posts: 6,533
Registered: ‎03-11-2010

Not in our area.  The best I can hope for is my EBATES rebates.  LOL

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

I haven't bought an already existing house since 1970s so I can't remember how they figured out the property tax for the closing. When you build a new home it is pretty cut & dried, because the price of the home has already been agreed upon and the assessment gets based on that amount. When we listed our house for sale both times we were asked to submit information like property taxes, utilities monthly and what we pay for insurance. Things like utilities and insurance are just to give the person a range of what they may pay, as those are not going to be the same depending on what you purchase ins. wise or your uses of utilities.

Honored Contributor
Posts: 24,891
Registered: ‎05-10-2010

@bonnielu wrote:

Not in our area.  The best I can hope for is my EBATES rebates.  LOL


 

       Never heard of such a thing either.  It's probably places that have older, clunky tax collections systems so after they crunch the real numbers, some homeowners get rebates.....others get bills.  

Occasional Contributor
Posts: 10
Registered: ‎08-16-2018

@bonnielu wrote:

Not in our area.  The best I can hope for is my EBATES rebates.  LOL


Lol!