Real Estate Taxes in the Sarasota and Surrounding Areas
Generally, in the current market, we are seeing the annual real estate taxes are running between 1.2% and 1.5% of the homes market value. That obviously can vary based on several factors, but overall, Florida has much cheaper Real Estate taxes as a percentage of home values than most other states.
When looking at the Real Estate Taxes for specific listings, it is a good idea to keep in mind a few factors including;
- Was the home homesteaded? If so, are you going to homestead the property as your primary residence?
- There are other tax exemptions available in Florida that you my not be entitled to. We always look at tax records to see what if any exemptions they are taking.
- Are there CDD fees included in that tax listed?
- In Florida, we pay the taxes in arrears so that tax amount is based on previous market information which may increase or decrease (depending on the market) in coming years.