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It's a great time to buy real estate in the Florida Keys. Never try to time the bottom or top of a financial market. It is clear there are great opportunities to be had over the next 6 months and even over the next two to three years. This market correction creates great opportunity for building wealth over the next 5 to 10 years. |
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Courtesy of Scott Forman, REALTOR®
Five Property Tax Questions You Need to Ask
What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information.
How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed.
Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale.
Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate?
Does the current tax bill reflect any special exemptions that you might not qualify for? For example, many tax districts offer reductions to those 65 or over.
www.REALTOR.org/realtormag Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® . Copyright 2003. All rights reserved.
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Contact Information
Scott Forman, Realtor®
Real Estate of Key West2601 S. Roosevelt Blvd
Key West, Florida 33040
Toll free: 305-923-9884 / Phone: 305-923-9884
Cell: 305-923-9884 / E-mail: Click here / Website: KEYWESTCONDOSONTHEBEACH.COM
Equal Housing Opportunity. This material is based on information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete and should not be relied on as such. This offering is subject to errors, omissions, change of price or withdrawal without notice.
