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Michael Brue of Keller Williams Jupiter explains Real Estate Tax Estimating

May 11th, 2012 5:46 AM by DANIEL POULOS

Jupiter real estate broker, Michael Brue of Keller Williams Realty explains why county records are not a good indicator of real estate taxes for a new home buyer.  He addresses millage rates, projected assessed values and homestead and other exemptions.

Hi I'm Michael Brue from the Keller Williams Realty in Jupiter, FL I'm here to tell you that what you don't know about real estate taxes CAN hurt you. I recently witnessed a situation where a home shopper was comparing the cost of several available homes by considering the current tax bills in Palm Beach County records.

The problem with this is that the current tax bill is almost never an accurate predictor of what the new buyer will pay for real estate taxes. For instance, you could have 2 identical houses for sale for $250,000 in the same neighborhood, one with a tax bill of $6000/yr and the other at $3000/yr. The difference can be attributed to when the house was bought, whether it was homesteaded and the owner's appropriate exemptions.

None of those things have anything to do with what your tax bill will be!

If you want to get your best estimate of taxes an experienced Realtor can research the millage rate in the town and multiply it by the predicted assessed value after sale minus your applicable exemptions.

Thanks for visiting www.What-U-Dont-Know.com  

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Posted by DANIEL POULOS on May 11th, 2012 5:46 AM

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