Fort Lauderdale Real Estate - The Truth about Real Estate Taxes

Posted by Eric Miller on Thursday, December 2nd, 2010 at 11:55am.

Taxes in the Fort Lauderdale Real Estate Market

Eric Miller – 2 December 2010

Zillow, which is a major real estate information and marketing website reported that the Fort Lauderdale Real Estate market is one of the most searched cities on their site.  This really was not a surprise to us, since we’ve seen an increase in traffic on our website www.FortLauderdaleGroup.com in the last few months as people realize that this is a great time to buy that Fort Lauderdale Waterfront Home or Condo.
 
As buyers come back to the Fort Lauderdale Real Estate market, they come back with numerous questions including “What are the taxes on this property” .  As with any good agent, it is our job to answer any question related to Real Estate in the Fort Lauderdale areas as we search together for the perfect home or condo for you.  One thing to understand is that the amount of taxes that are currently on the property have nothing to do with the amount of real estate taxes you will be paying once you purchase the property.  The amount changes once the property changes hands.

Fort Lauderdale Real Estate taxes and all of Florida are paid in arrears, which means when the bill comes at the end of the year, you are really paying for the year that has just past.  This is really important to understand so when you go to the closing table you know that you will receive a credit for the time the seller owned the property since at the end of the year you will be getting the full year’s bill.   The actual bill that will come will be based on what you paid for the property.  The rule of thumb when estimating your tax bill is about 2% of the purchase price of the property.  This applies to every type of property in the Fort Lauderdale Real Estate market.  An example on a $200,000 home would be about $4000 a year in Real Estate taxes. The Broward County property appraiser’s office has a great website for a pretty accurate estimate, please visit them at www.bcpa.net .  The 2% is a good rule of thumb, it could be a little higher or lower according to the area in the Fort Lauderdale Real Estate market you purchase the property in.

Now that you understand a little better about what you can expect on the amount of taxes in the Fort Lauderdale Real Estate market, you can include this “new” amount of taxes in your budget as you look for that perfect property in Fort Lauderdale with Eric Miller & Associates.   Please visit our website www.FortLauderdaleGroup.com  and start your search or call or email us right away whether you looking for a Fort Lauderdale Waterfront Home or non-waterfront or that perfect Fort Lauderdale Condominium with views, start by contacting Eric Miller & Associates.  We are here to help!

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

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