[City Guy997S]

Originally Posted by mrviking

Pretty sure it was our government policy reactions to COVID that did that.

I'd bet DeSantis made it easier/more open than other states which increased the exodus.

[City Guy997S]

Originally Posted by EngGirl

Renters are screwed for few years now since rental prices doubled.

AKA EngGirl

You don't think the minimum wage increase/living wage campaign doomed renters? If everybody makes $20 an hour/ $800 a week you don't think the landlords figured ok, I'll take some of that money too!?

[Chas863]

Originally Posted by City Guy997S

Ok clearly you can't read...............

If you spent 400K 20 yrs ago or you spent 400K last week the tax bill would essentially be the same! Both buyers would have an $8000 tax bill.

So the only difference today would be what 400K buys you now vs. 20 years ago.

I've lived in Florida for about 21 years (Homestead exemption) and the property taxes on my house are well under 1% of the market value of the house. My taxes have barely increased in all that time, yet the market value of my house has probably doubled.

[andrea3821]

Originally Posted by EngGirl

Imagine someone's taxes increasing by 3K for 2023. Lender will pay and recalculate escrow which means the following year that homeowner will be paying extra $250 for 2023 to repay lender plus $250 for the following year (2024) escrow for taxes. It's $500 move per months.

Then factor increased HOI. Monthly payment is going up again.

I also disagree with you in homestead exemption not making a giant difference. It actually does. Not only it provides deduction for calculation purposes it also caps the max increase to 3% which in a long run helps saving a lot.

Price value per appraiser depends on prices around for similar homes - If recent sale prices were higher and current listed homes are higher, then appraised value is also high. To what it worth, the true value is what you will be able to sell your house for or what people will be willing to pay it for. I learned long time ago "independent" appraisers, county appraisers and current market price are three different things and means nothing.

Renters are screwed for few years now since rental prices doubled.

Yeah I know how it works because it’s happened to me.

My HOA dues are going up some this year as well but ours are only $300ish a year bc it’s purely for road maintenance of our limerock roads.

Got our escrow statement yesterday and no change for once, although we are still playing catchup from last year and year before.

People need to understand what all goes into a mortgage when they buy and plan for those eventual increases. We paid taxes on just the dirt our first year here and knew it would go up a decent amount the next year but our taxes are pretty low comparatively in our area - $2200 or something like that. The impact will be much greater for people with more expensive homes in more expensive areas. We are rural, which is what we wanted. Those people with higher incomes can also weather that increase better.

The homestead exemption itself just takes off $25k in taxable value and an additional $25k on non school taxable value. I am probably not explaining it exactly right but that’s what it boils down to and the homestead exemption itself does vary by county.

I think what you’re referring to is Save Our Homes and yes, having a homesteaded property makes that work but it’s not the exemption itself doing that cost savings. It is a different statutory measure.

The different appraisals don’t mean nothing. It’s like if you put ten doctors in a room you will get ten opinions and they each might be similar and some will be further out in left field. It’s an educated opinion. But I agree that what someone will pay for it really determines the value of it, which is why I don’t understand people saying value is different from price (I should probably ask the person who keeps saying that directly, it’s mostly just one person IRL).

Renters are totally screwed and have been for several years but nobody’s rents are doubling.

[andrea3821]

Originally Posted by EngGirl

You are missing the main point I am making, it has NOT been the same forever. This is the record year in increase and huge difference for many homeowners in $$

Many people who moved to Florida did that because FL was "cheap" including property taxes. Not any more. Many people are now surprised at the new updated property tax amounts. They went by what prev. owners paid in taxes, they for their 2022 taxes which were more or less what they expected based on what prev. homeowners paid. And all of a sudden they received 2023 taxes that are couple thousands higher. Top it off with HOI and FL doesn't seem that "cheap" anymore.

Florida is still cheaper than many other states and it’s not just based on property taxes and home prices. You want to live in a metro like Miami, you’re gonna pay for it. Prices are indeed higher across the board than a few years ago but there are tons of more rural and suburban places that still have low millage rates coupled with decent prices.

And again, if people are too stupid to understand how their taxes will go up when their new home is assessed after the sale or after putting a house on it…not sure what to tell you.

Insurance is a problem so I’ll give you that one.

I’m not seeing the big sell- off that you are forecasting.

[andrea3821]

Originally Posted by EngGirl

Good for you. Doesn't apply to 95% of homeowners.

You believe 95% of homeowners are stupid? Lolz

[beach43ofus]

Originally Posted by EngGirl

You are missing the main point I am making, it has NOT been the same forever. This is the record year in increase and huge difference for many homeowners in $$

Many people who moved to Florida did that because FL was "cheap" including property taxes. Not any more. Many people are now surprised at the new updated property tax amounts. They went by what prev. owners paid in taxes, they for their 2022 taxes which were more or less what they expected based on what prev. homeowners paid. And all of a sudden they received 2023 taxes that are couple thousands higher. Top it off with HOI and FL doesn't seem that "cheap" anymore.

If homebuyers (FLA or elsewhere) are not smart enough to know that what prior property owners paid in property taxes, could be significantly less than a new owner's, whose fault is that?

Buyer-agents always warn of that.

The longer the prior owner owned the homesteaded property, the more the jump the new owner is likely to see.

The fundamentals for the average SFH price in FLA, are too strong for a collapse to occur in the near-term. I'm defining "collapse" to be >33% in 1 yr.. & near-term as over the next 6 yrs.

FLA ranks 18th highest as of Aug '23 for average home price..near the middle:

https://worldpopulationreview.com/st...price-by-state

FLA property tax costs rank 24th...just off the midpoint as of Feb 2023:

https://www.rocketmortgage.com/learn...taxes-by-state

[Nausikaa]

Originally Posted by mrviking

Last I checked only 15% of Florida has been developed. I think we still have room.

A lot of people don't consider anything north of Gainesville to be in Florida. It's the boondocks. Real southerners live in north Florida, south Florida is akin to a foreign country.

[City Guy997S]

Originally Posted by Chas863

I've lived in Florida for about 21 years (Homestead exemption) and the property taxes on my house are well under 1% of the market value of the house. My taxes have barely increased in all that time, yet the market value of my house has probably doubled.

My last house 20+ yrs, tax bill actually dropped when a non-advalorem item got paid off (roads/sewers bond)
but YOU NEED TO SELL NOW according to EngGirl, the sky is falling, Florida will be worthless in the next week.

[City Guy997S]

Originally Posted by beach43ofus

If homebuyers (FLA or elsewhere) are not smart enough to know that what prior property owners paid in property taxes, could be significantly less than a new owner's, whose fault is that?

Buyer-agents always warn of that.

The longer the prior owner owned the homesteaded property, the more the jump the new owner is likely to see.

The fundamentals for the average SFH price in FLA, are too strong for a collapse to occur in the near-term. I'm defining "collapse" to be >33% in 1 yr.. & near-term as over the next 6 yrs.

FLA ranks 18th highest as of Aug '23 for average home price..near the middle:

https://worldpopulationreview.com/st...price-by-state

FLA property tax costs rank 24th...just off the midpoint as of Feb 2023:

https://www.rocketmortgage.com/learn...taxes-by-state

Also note that the property appraiser usually has a tax estimator link so if you type in what you will pay for the property it will give you the new tax bill estimate so you know before you buy it what it will cost.