Between property, real estate, sales, and capital gains taxes, you’re likely to run in to at least one of them if you’re in the market to buy or sell a home.
People ask “What’s my home worth” when it’s tax time because property taxes are based on value. Fair market value is the key and the more the home is worth, the more property taxes you have to pay. The median property tax in Florida is $1,773.00 per year for a home worth the median value of $182,400.00. That is slightly below the median tax in the United States but it’s not insignificant. It’s also something you can’t avoid by ignoring it.
The taxman shall be paid so make sure you take care of it. If you have a mortgage, it’s possible the lender is collecting taxes (and