Quick...quick question...Do you pay property tax in Florida?

[*Fantasia*]

Do you pay property tax in Florida? It may be a stupid question, but I asked cause I don't know the answer. Thank you.

 

[phamton]

Yes, you pay property tax, but there is no state income tax.

 

[*Fantasia*]

I read on my other thread this:

no personal property taxes (car taxes, etc)

What exactly does this mean? If I buy a new car, there's no tax? And what other things that are not taxable in Florida? Thanks.

 

[*Fantasia*]

Thanks phamton. Hmmmm...I wonder if someone can answer my other question...

 

[phamton]

$ Personal income tax
• Florida residents pay no personal income tax.

$ Sales tax
• Florida levies a 6 percent sales tax.
• There are additional county sales taxes, in half-percent increments, which could make the combined state-county rate as high as 9.5 percent.

http://www.bankrate.com/brm/itax/edit/state/profiles/state_tax_Fla.asp

Car taxes: http://www.vidaamericana.com/english/carreg.html

 

[FINFAN]

Telly, no state income tax means that the state does not automatically take $ from your paycheck before you see it. It is usually anywhere from 2-6% but can vary.In Florida it is 0. Here are 2 sites that can help you compare cost of living from city to city/ state to state.
www.houseandhome.msn.com/move

www.bestplaces.net

Your Federal income tax is the big deduction you see out of your paycheck. You will still have that in Florida.

Pam

 

[phamton]

Finfan is correct. There is personal property tax. There just isn't state income tax. You still have federal income tax, you just won't have to file a state return on April 15. I moved from Texas and we didn't have state income tax either.

 

[kadaten]

Answered this on your original thread...

Personal property tax is most often associated with a car tax that's paid every year in addition to the registration fee. The personal property tax is based on the value of the car.

For instance: In SC you pay a registration fee of about $24 PLUS a personla property (car) tax of 10.5% of the current market value of your car. These both must be paid before you get your license plate renewal and new registration. (Just one example...my mom is constantly upset over the amount of her car tax!)

FL does not have car tax. We pay a registration fee only, based on the size (weight) of the car. DH pays about $45 on his Honda Civic and I pay about $65 on my minivan, and both of those include some money for special plates. (In SC I'd pay about $1700 tax!! Quite a savings!)

Since you're not familiar with it, I'm going to assume your state doesn't have personal property tax, so this probably won't be a PRO or CON for your whether to move list.

I know VA (where we currently live) is phasing theirs out, although it is bankrupting the state (along with other things that aren't helping...)

 

[BibbidiBobbidiBOO]

My city in FL is known for HIGH property taxes, and they keep rising-never happened when we lived in another state-much lower there too. BUT, our house has appreciated $50,000 in a little over 4 years. We also have 7 1/2 cents sales tax here. Our gas is more expensive than other places around us. BUT, I think the education system is much better here too. So, be sure to compare these costs for the city/county you are looking at. Cost of living is very different here than in most FL cities.
No FL income tax though.

 

[Rock'n Robin]

Wow I'm glad I live in Ohio for once! It only costs about $45 a year to get my license plates renewed! We always have newer vehicles so that SC system would kill us!
Robin M.

 

[doxdogy]

We pay property taxes on our house. It is lumped into our mortgage payment. It is on a sliding scale, based on the value of your home. I believe our property taxes our $800 a year.

 

[BibbidiBobbidiBOO]

Ours is lumped into our mortgage too. They are now $2300 a year-we are only about 2+ hours west of you too. Lucky you doxdogy

 

[Talking Hands]

There is no personal property tax in Florida.
There is a tax on stocks, bonds and such. Forget what it is called
The is property tax on your home but you do get a $25,000 Homestead exemption on your personal dwelling as a Florida resident.
There is a fee when you first register your car in Florida but if you are replacing a car you do not pay it.
Florida has no state income tax.
Florida does have sales tax.

 

[*Fantasia*]

Thank you everyone for clearing this one out for me.

 

[aprilgail2]

Originally posted by doxdogy
We pay property taxes on our house. It is lumped into our mortgage payment. It is on a sliding scale, based on the value of your home. I believe our property taxes our $800 a year.

Wow....800! I would love to have property taxes that cheap!! I can't wait to retire and move to FLorida!! Ours are 5800 a year and that is considered cheap around here!