The local county commission is whining about a BUDGET SHORTFALL. They were quick to increase spending when property values were going up, but now that they have fallen (slightly) they want to raise the millage rates. I bought my home, single story brick ranch style, for $69k in July of ‘02. The tax appraisal was for $50k. NOW my tax appraisal is for $125k, and accordingly, my taxes are more than doubled. ADD this to the TRIPLING of our homeowners insurance from $550 per year to nearly $2000 per year and you can see why Florida homeowners are fit to be tied! We don’t live near the water, either........
Then move to the greater Seattle/Tacoma area.....where you can have the privilege of buying a home for, oh, a minimum of about 200,000......but our insurance rates aren’t quite as high (no hurricanes here, usually, although last winter was close).....but, the taxes on a 1700 sf condo are about $2700 a year.....a 3100 sf house....about $8000/yr.
Just curious, what city is this in Florida? And is there some process in place when the value of the homes drop, you get property tax relief?