Florida Property Taxes - People Are Losing Their Homes

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Author: Burt Kanaga

Article source: http://www.articledeshboard.com/. Used with author's permission.

It seems like every time you turn on the TV, there's another story about the rising costs of property taxes, and Florida property taxes are a hot issue in the state right now. People are losing their homes because they can't afford to pay them.

In a recent survey, Florida property taxes were the top concern among Floridians, with good reason. Rising home values have skyrocketed taxes, pricing many out of the neighborhoods they have lived in for years. So what do I need to know about Florida property taxes if I am considering buying property in the state?

Florida property taxes are determined on the local level by the county property appraiser. They are responsible for determining the tax and distributing funds to the appropriate parties. Residents may file a homestead exemption for their residence, and under Amendment 10, also known as Save Our Homes, Florida property taxes are capped and can only increase by a certain percentage. There are current debates to double this homestead exemption and to make the Save Our Homes program portable when one buys a new home, and will possible be voted on in January 2008. Other special exemptions are available to low-income homeowners and people over the age of 65.

While property prices in Florida seem low, you must remember that the state is susceptible to severe weather conditions that drive up costs in other areas. Hurricanes are frequent on the coasts, and inland sees many tornadoes because of the flat land. Sinkholes are common in many areas of the state, and can cause serious damage to your property. So, Florida property taxes are not the only thing you need to take into consideration when buying a home.

When buying property, you can protect yourself from outrageously high Florida property taxes. Research property appraisals online by going to the website of the county property appraiser where you are considering buying. Here you can look up sales prices and tax assessments. Read about the homestead exemption, and find out how you can apply for it if the property is to be your primary residence. Learn about the other programs available and what you need to do to qualify. Don't forget to find out if you will need flood insurance, sinkhole insurance, and other types of insurance that are unique to a Florida property. All insurances in Florida have to have some type of hurricane protection; make sure you read up on what is and isn't covered and the costs for all of this.

If you have any questions about Florida property taxes, be sure to contact the Florida Department of Revenue. Even though taxes are collected at the local level, this agency is responsible for overseeing all operations regarding Florida property taxes. Their employees will answer any questions you have.

So, now you have the basics on Florida property taxes and where to look if you have more questions. Be sure to use what you've learned to make an informed decision when considering a real estate purchase in Florida.

Our team has prepared a free report with more tips for you, that will save you time on various tasks. Claim it on this website: www.taxhelpquestions.com, and find out much more, aside of florida property taxes. Best regards, Burt Kanaga.