What Do The New Florida Property Tax Cuts Mean For You?
If you are BUYING a home the impact is as follows:
|
Collier County (Naples) |
Lee County (Bonita/Estero) |
House Value |
2007 Taxes |
2008 Taxes |
Savings |
Savings % |
2007 Taxes |
2008 Taxes |
Savings |
Savings % |
$200,000 |
$1,925 |
$501 |
$1,425 |
74% |
$2,450 |
$651 |
$1,799 |
73% |
$250,000 |
$2,475 |
$926 |
$1,549 |
63% |
$3,150 |
$1,204 |
$1,946 |
62% |
$300,000 |
$3,025 |
$1,351 |
$1,674 |
55% |
$3,850 |
$1,758 |
$2,092 |
54% |
$350,000 |
$3,575 |
$1,777 |
$1,798 |
50% |
$4,550 |
$2,311 |
$2,239 |
49% |
$400,000 |
$4,125 |
$2,202 |
$1,923 |
47% |
$5,250 |
$2,864 |
$2,386 |
45% |
$450,000 |
$4,675 |
$2,628 |
$2,047 |
44% |
$5,950 |
$3,418 |
$2,532 |
43% |
$500,000 |
$5,225 |
$3,053 |
$2,172 |
42% |
$6,650 |
$3,971 |
$2,679 |
40% |
$550,000 |
$5,775 |
$3,554 |
$2,221 |
38% |
$7,350 |
$4,622 |
$2,728 |
37% |
$600,000 |
$6,325 |
$4,054 |
$2,271 |
36% |
$8,050 |
$5,273 |
$2,777 |
34% |
$650,000 |
$6,875 |
$4,555 |
$2,320 |
34% |
$8,750 |
$5,924 |
$2,826 |
32% |
$700,000 |
$7,425 |
$5,055 |
$2,370 |
32% |
$9,450 |
$6,575 |
$2,875 |
30% |
$750,000 |
$7,975 |
$5,556 |
$2,419 |
30% |
$10,150 |
$7,226 |
$2,924 |
29% |
$800,000 |
$8,525 |
$6,056 |
$2,469 |
29% |
$10,850 |
$7,877 |
$2,973 |
27% |
$850,000 |
$9,075 |
$6,557 |
$2,518 |
28% |
$11,550 |
$8,528 |
$3,022 |
26% |
$900,000 |
$9,625 |
$7,057 |
$2,568 |
27% |
$12,250 |
$9,179 |
$3,071 |
25% |
$950,000 |
$10,175 |
$7,558 |
$2,617 |
26% |
$12,950 |
$9,830 |
$3,120 |
24% |
$1,000,000 |
$10,725 |
$8,058 |
$2,667 |
25% |
$13,650 |
$10,481 |
$3,169 |
23% |
$1,250,000 |
$13,475 |
$10,561 |
$2,914 |
22% |
$17,150 |
$13,736 |
$3,414 |
20% |
$1,500,000 |
$16,225 |
$13,063 |
$3,162 |
19% |
$20,650 |
$16,991 |
$3,659 |
18% |
$2,000,000 |
$21,725 |
$18,068 |
$3,657 |
17% |
$27,650 |
$23,501 |
$4,149 |
15% |
This worksheet assumes Collier County taxes of 1.1% of assessed value and Lee County taxes of 1.4% of assessed value. It further assumes that the 9% cutback for Collier and 7% cutback for Lee as ordered by the legislature go into effect for 2008 and are repealed thereafter. No representtaion is made that the above table reflects the tax situation for any particular property. For specific property tax advice please consult your local attorney.
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