Why is the assessed value in the homes tax record so much lower than the listed price?
The tax assessment is the value of the home established by the local Tax Collector for tax purposes only. In Florida, any homestead exempt property is limited by law to no more than a 3% increase per year. With current appreciation at 6% to 12% the assessed values for homesteaded properties will be much lower than true market values.
Related Questions
- I am about to purchase a property at a price significantly below the assessed value. Will my property taxes be based on the new purchase price or on the assessed value?
- Why is the assessed value in the homes tax record so much lower than the listed price?
- Is the tax assessed value of my home the same as the refinancable value?
