Property Taxes Miami Dade County & Broward County
Categories: Buying Real Estate, Foreclosures, Miami, Real Estate News
hiSince property tax season is in place and many of us have received our tax bills, I thought it would be the perfect time to educate buyers on the specifics, especially in the market that we are faced with. Many buyers have the idea that their property tax bill is according to what they paid for their property, wrong! Your property tax bill is according to the market value in the area, which all of us (realtors) know. The property appraisers office is not taking into consideration many of the foreclosures unless that is all that is selling in the area. Some buyers are astounded when they receive their tax bill on a property they paid $180k for and the market value is at $300k. Of course, this is a great thing looking at it as a property owner, because this means that your property value is up and there is equity in your home. But, on the other hand, since we are all pinching our pennies not too many new property owners like this idea. It’s time to get educated and learn all the ins and outs of this market.
