Florida residency

[Lindsay Richards]

Our Fl county real estate taxes have gone down the last two years. It depends on the county property appraiser and local politics. No doubt the actual values have dropped and it is logical that the assessments should drop too. The actual dollar amounts have been more symbolic than anything. The 3% max yearly increases for residents has recently been upheld by the supreme court, so it will be there. Any politician against it would quickly be voted out. We do have a state sales tax and a county option sales tax that together can 7%. Insurance isn't a problem unless you are in a house over 50 years old.

[Nonno]

We just registered our RV in a part-time status

What is part-time status? Is this something that can become permanent part-time if you own property?

We recently bought a home in a FL RV Community but will not be changing residency from NH. Although we are retired, we don't see FL becoming a primary residency, because our NH home is my DW family home. She is the 8th generation so selling it to move elsewhere is not going to happen.

[Gotta_P]

Originally Posted by Nonno

What is part-time status? Is this something that can become permanent part-time if you own property?

We recently bought a home in a FL RV Community but will not be changing residency from NH. Although we are retired, we don't see FL becoming a primary residency, because our NH home is my DW family home. She is the 8th generation so selling it to move elsewhere is not going to happen.

I say part-time because we only are in FL part of the year, our permanent residence is still GA. As far as FL DMV is concerned, it's registered in FL and there is no difference in the fees. They set it up so it's registered against the FL property, but the annual bill will be mailed to our GA Address, that's the only difference.

[MyLife]

Also you can get more deductible on taxes if you have a military disabilities.

[Lindsay Richards]

Florida counties are starting to crack down on people who spend less than 6 months here and claim homestead exemption and the 3% max tax increase. The go back and re figure previous years. It has been a big problem. They look at utility usage and things like that to determine if you were there. As the economy went downhill, they have gotten very creative in finding ways to get money.

[Half Dimes]

Originally Posted by Lindsay Richards

Insurance isn't a problem unless you are in a house over 50 years old.

Or you live in a coastal county.

[Tom N]

Originally Posted by GaryKD

Hi Tom N,
Does "your friend" have his property homesteaded? Homestead properties is what my post refers to. Properties that are not homesteaded can have fluctuating property taxes.

From what I see on the Citrus County real estate website he has the homestead exemption of $25k. His RE taxes dropped ~$900 between 2007 and 2009. Note he had a pool installed in 2005. You can view his decreasing assessments here.

http://www.pa.citrus.fl.us/pls/apex/...P3_URL:2187298

[GaryKD]

Hi Tom N.
By golly Tom N. you are correct and I was wrong. You found an exception to my post. In the future, I'll try to use more adjectives and adverbs to lessen the impact of definitive statements. This will also save people like you time from having to prove your point. Congratulations to you.

Also, congratulate your friend for me. Those who purchased homes during the real estate boom have seen their taxable valuations reduced. They have not held the property long enough to get the full advantage of the Florida homestead exemption (3% maximum cap on taxable valuation). It looks like your friend purchased the property in 2004 (during the real estate boom). It may be too late, but if I was your friend, I'd object to the increase in assessment valuation after he homesteaded the property. It seems to be more than the 3% allowed by Florida law (2006 to 2007). I think the homestead exemption is $50K. Consider having your friend look into this. I know my homestead exemption is $50K.

I do know, for long time residents and beneficiaries of the homestead exemption (actually it is the Save Our Homes limitation) even if the valuation of the property falls 50% (like me) the RE taxable valuation still goes up. This is because the allowed taxable valuation on the property has a gap from the actual valuation. Long term residents have much lower valuations than resident who recently purchase property. For 20 + years, my homesteaded taxable valuation and RE taxes have gone up every year. This is true even after the real estate bust.

Have your friend go to Real Property and Save Our Homes
read about the law. This might prepare him for future year increases beyond the 3%. In addition have your friend go to FL Dept Rev - Information for Taxpayers see how the different benefits are worked into the RE calculation. This URL also provides the maximum each local taxing authority can tax a homestead property. Overall, this gets kind of complicated. It is a good thing we have computers to figure the formulas and do the math.

[Gary RVRoamer]

The standard FL Homestead Exemption is $25k and it increases to $50k for seniors.

[GaryKD]

Hi Gary,
Go to FL Dept Rev - Property Tax Exemptions and Discounts and read about the $50K exemption, that is valid throughout Florida regardless of age. All this can get kind of confusing. I do know that when the law was passed, I automatically got the additional $25K exemption, for a total of $50K. I am not 65 years old.

Duval County has an additional $25K exemption for seniors who qualify with an income below a certain amount. Go to Senior Citizen Homestead Exemptions to read about it. There may be other counties that have done the same thing. I know Palm Beach County is looking for ways to tax more, not ways to reduce anyone's taxes.

[D in Davie]

I would also like to point out that property of any kind is at a premium in Monroe Cty. (The Keys.) Hurricane insurance may also be very expensive unless you keep mobile and flee when the winds kick up. There is no property tax in FL so you only pay registration of about $50-$60 a year for each vehicle, car or MH. My only suggestion is to make sure you have a reason to live where you intend to lay down roots. Living in the Keys looks good in pictures but island life can get constraining and the keys are the most expensive place to live in the state because everything comes from someplace else. That includes much of the land itself. In the keys there are only two things to do, fishing and drinking. I like to visit and then head back to the mainland.

[R1Kirby]

After much research we found Alternative Resources in Sioux Falls, SD to be the best deal. They will handle everything for you. Google them and check it out before you consider your place of residency.

[Sixpack98]

Lots of great information. We just settled in florida and in the process of buying a house and really appreciate all the tips given in this thread. I was surprised that inland homeowners insurance is a lot less in Florida than in Texas. Auto insurance is about the same - both states have lots of illegals and no insurance.

[captcws]

Just FYI, Marion Co, Tenn is a non wheel tax county just west of Chattanooga about 20 miles