[CURT]

Originally Posted by Need_affordable_home

Those are auction listings, they sell to the highest bidder. They do have houses(they look like townhouses) as cheap as $10k but they are unlivable and all boarded up. The nice houses are $100k and up. Not a bad price for NJ living but I wonder how bad the crime is! OMG the crime index is 1000! Theres dozens of murders! Only 7% of the residents are white, the rest minorities! Thats the reason why its so cheap, must be the cheapest city in all of NJ! Oil city, PA has a crime index of ~150 which is about half national average with zero murders! 97% are white, almost no minorities. To put it short, avoid Camden!

no kidding,,,,,the crime is exactly why i posted about it. if your looking at prices, you get what you get. I'm from nj. I know all about camden. camden the city is not to be confused with camden county. 97% white is not camden the city.....
mentioning camden was my way of saying to be cautious, you may get what you pay for.

[bellydance2290]

Can anyone tell me what percentage the taxes are being calculated at? For instance the first post that states the taxes went from $2500 to $8000 -what is the home worth? I currently live in Georigia and pay $2600 in taxes. I live in a suburban area, not the city of Atlanta. In my county taxes are calculated at approximately 1.25% of the homes value. It is higher in the city of Atlanta depending on the county you live in - closer to 1.5% or 1.75% Does anyone know what the percentage in Florida is, I assume this varies by area.

[Nomoresubways]

I think they have a millage rate which they use to find the taxes bellydance. For example, the area that I bought a house in has a millage rate of .1729 or something like that. You multiply that times the value of the house and divide by 12 and that is your annual taxes. I THINK. Does that sound right guys?

[MotleyCrew]

These posts are worth their weight in gold (taxes). We (up till now) were still interested in retiring in FL. We are in AZ right now. We have a new 2,000 square foot home in an awesome development and our tax bill was $2,000 for the year. I think we made the right choice. We can take two trips to Disneyworld a year and come out ahead. Many thanks for the information. You all are welcome to come over this way!

[CURT]

Originally Posted by Nomoresubways

I think they have a millage rate which they use to find the taxes bellydance. For example, the area that I bought a house in has a millage rate of .1729 or something like that. You multiply that times the value of the house and divide by 12 and that is your annual taxes. I THINK. Does that sound right guys?

yes. value times milage rate is yearly tax rate.

[Nomoresubways]

Ok so here's the $10,000 question. If prices are going down, in theory, doesn't that mean property taxes should be going down too?

[Need_affordable_home]

Originally Posted by Jill Warner

These posts are worth their weight in gold (taxes). We (up till now) were still interested in retiring in FL. We are in AZ right now. We have a new 2,000 square foot home in an awesome development and our tax bill was $2,000 for the year. I think we made the right choice. We can take two trips to Disneyworld a year and come out ahead. Many thanks for the information. You all are welcome to come over this way!

Whats wrong with AZ? It has a climate like Florida without the humidity and better yet, no hurricanes! Houses, insurance and taxes are cheaper too!

Originally Posted by CURT

no kidding,,,,,the crime is exactly why i posted about it. if your looking at prices, you get what you get. I'm from nj. I know all about camden. camden the city is not to be confused with camden county. 97% white is not camden the city.....
mentioning camden was my way of saying to be cautious, you may get what you pay for.

Wow what did camden city look like? Did you see gangs everywhere? Drive by shootings? Run down townhouses? Oil city is nothing like that. The only reason I can come up for the cheap prices there is it gets cold and can snow a foot plus the economy sucks there and no jobs. Im a freelance graphics designer and make my own money.

[Christian11]

Originally Posted by Need_affordable_home

I am moving out of Florida once I save for a downpayment for a house in OH or WV.

Florida has become the state for the rich(CA has been like that for a while)

Need-Affordable, I am moving to. Possibly to ID. The winters are not bad and it is clean, safe, and affordable. Good jobs and decent growth.

My aunt just bought a house in Windermere, FL and guess how much her property tax was. Guess? $13,000 per year. New construction. Her homeowner's insurance (house just finished building in May 2006) is almost $3,500 per year. Even if she paid a state income tax of let's say 5% or even 6%, she would be saving money, by living elsewhere. She is so upset she moved down from New Hampshire.

People, before you buy in FL, search Google for "Property appraiser" and the county where you want to buy. Then find out what the "Milleage rate" is for the county. That means every $1,000 of value of your property (one "milleage"), the county will charge you X amount of Dollars for it.

Example: You buy a house for $250k. If the county's millegal rate is... let's say $30 (meaning the county will charge you $30 in tax for every 1,000 in value of your home), then you take 250 x $30 = $7,500 in property tax. This is just an example. Get an accountant or use an online ad valorem tax calculator for accurate calcs. KNOWLEDGE IS POWER!!

CAUTION: The real estate contract you "kinda read before you signed" has a warning stating that your property tax on your new home will be MUCH higher than the property tax the current owners are paying. Do NOT go by what the old owner is paying, as he is "grandfathered" into the old, cheaper FL property tax system. New purchases get taxed at the newer, much higher rates.

CAUTION 2: Some realtors trick you by saying "well, you can Homestead your home and that will drop the property taxes". True, but not by much. Seek advice of an accountant or attorney before you buy. Also be careful of the hidden fees, Adjustable Rate Mortgages (ARM) and weird "magical loans".

Best of luck!

[Christian11]

Originally Posted by bellydance2290

Can anyone tell me what percentage the taxes are being calculated at? For instance the first post that states the taxes went from $2500 to $8000 -what is the home worth? I currently live in Georigia and pay $2600 in taxes. I live in a suburban area, not the city of Atlanta. In my county taxes are calculated at approximately 1.25% of the homes value. It is higher in the city of Atlanta depending on the county you live in - closer to 1.5% or 1.75% Does anyone know what the percentage in Florida is, I assume this varies by area.

Yes, they calculate the property tax (called "Ad Valorem") by milleage. It is a set amount by the county that is multiplied by every 1,000 of value of a home. As you can expect, it is very very high!

See my example on my other response!

Glad to help.

[Christian11]

Originally Posted by Nomoresubways

Ok so here's the $10,000 question. If prices are going down, in theory, doesn't that mean property taxes should be going down too?

Yes, granted they will go down. Now, you also have to remember that a big factor in FL property tax is the Milleage Rate, which is how much they will charge you per $1,000 of value of your home.

If prioces go down, you might want to have the Property Appraiser's office come and do an appraisal. Check with a lawyer or accountant for the process.