Discussion of economic and investment issues of interest to Canadians investing in Florida real Estate by Canadians investing in Florida real estate.
Friday, 23 December 2011
Do Canadians Pay Higher Property Tax on Florida Properties ?
There is a common belief that Canadians pay higher rate of property tax than their US counterparts.
In truth it is investors who pay a higher rate. Only homeowners who live in their Florida homes as a primary residence are eligible for a “homestead exemption” in the form of a discount off the assessed value for tax purposes.
If the property is not a primary residence however the taxes are the same regardless of the investor’s country of origin.
The investor who owns this 1 bedroom unit downtown for example paid $ 648.10 for 2011.