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.

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