How much will you be paying in property taxes here in St Petersburg Florida?
You need to call the Pinellas County property appraiser’s office NOW and talk to them, get an estimate and let them explain how and why they came up with this number.
You might be very surprised.
Two weeks ago, one of my buyers wanted to know the property taxes before making an offer on a house here in St Petersburg Pinellas County. I gave her my rule of thumb but told her that this is just a wild guess and urged her to call the appraiser’s office herself and get the answer directly from them. (but I was confident that my old rule would still work, like it had the last 10 years or so) In this particular neighborhood sales in 2007 indicate a 30% drop in property value (lots of short sales and foreclosures) So, the comparable properties that sold last year are around $200,000 .
The home that my buyer inquired about had an asking price of $160,000 the mileage rate is 2.1. So, according to my calculations the taxes should be about $3,200 on the high end or $2,700 on the low end.
My buyer was quoted $4,300, The explanation was that “the taxes are not based on the sales price but on the comparable houses in the area and that the appraiser will not take any short sales or foreclosures, distressed sales in general into consideration.
Well, I guess one way or the other, they will get their money. I do not know what to say anymore.. My client is a very intelligent woman and I can not believe that there was any type of mis communication.
A lot of people are counting on a drop in their property taxes. The last thing our economy and housing market needs right now is another tax drama.
I urge you, start the conversation with them right now, do not wait until you trim notice comes out (by than they have pretty much made up their mind)