Property Taxes & Foreclosure question

chachita07

Hi ladies!! I think we found our house (again) and are thinking about putting an offer tomorrow but the only thing that is holding us back is the Property taxes.

The property is a foreclosure single family home in Miami Dade. In 2009 the bank paid and $7K, in 2008 - 2006 the owner paid an average of $9K.

Its not disclosed the amount the property was sold but I think the original owner paid $450.

Where or how can I find out how much around how much we will pay? And what is the difference between a foreclosure property and a regular sale property, in Taxes.

 Thank you!!

Jessie015

I would go over and ask on the Money Matters board. They are really good with these type of questions.

mjz

When we bought our house, we looked at the Broward county tax appraiser's Web site. We were able to put in the address, see all the past info, and get an estimate of the 2009 taxes. Does Miami-Dade county have a similar site?

behapy2day

Like PP said, You should be able to google the Miami Dade Property Appraiser's website and find out. We're in Broward and thats how we figured it out. HTH.

chachita07

I did go through Miami Dade and found all the property information, but this would be for this current owner, doesn't it change once a new owner comes in? I'm trying to figure out would we may more of less, especially since we would buy it less than the previous owner.

2009 was already paid by the bank. 

Thank you.

Wife2DJ

I would ask on the Buying a Home board, they are awesome when it comes to this stuff

 

SoontobeSavino

chachita07:

Hi ladies!! I think we found our house (again) and are thinking about putting an offer tomorrow but the only thing that is holding us back is the Property taxes.

The property is a foreclosure single family home in Miami Dade. In 2009 the bank paid and $7K, in 2008 - 2006 the owner paid an average of $9K.

Its not disclosed the amount the property was sold but I think the original owner paid $450.

Where or how can I find out how much around how much we will pay? And what is the difference between a foreclosure property and a regular sale property, in Taxes.

 Thank you!!

 

Taxes are paid every November and are paid a year behind, if that makes any sense? For instance, when I bough my house in 2008, my taxes were based off of sales figures from 2007. This November 2009, I paid taxes on the estimated home value from November 2008-November 2009, and next year I will pay according to a sales figure from Nov 2009 - Nov 2010. So when you go to the property appraisers site and enter your information, whatever figure they give you, is what your taxes will be. Youre lucky, they just started to include foreclosures when estimating the value of your property.

chachita07

Thank you so much!

muddilicious

Something to keep in mind is that the property taxes are based on the appraised value, so the property taxes for you should be lower than the past few years.  I know that all my families taxes are sooo much lower this year than the years past.  If you plan on holding on to your current house, you will not have homestead exemption on the current one (so its taxes will increase).