The Right Neighborhood – Know Your Taxes

The Right Neighborhood – Know Your Taxes

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If you are considering a home in the Central Florida region, there is tax information to consider. The medium home value determines the base for the taxes you’ll pay, but the percentage varies from community to community.

Smartasset.com shared the following information on Central Florida examples of variables on tax percentages  starting with a typical Orlando home buyer will be  paying about 1.16% of the home’s value.

By Community

Windermere- minimum combined tax rate s 6.5%
Celebration- combined tax rate is 7.5%
Winter Garden- combined tax rate is 6.5%

Disney’s Golden Oak- extremely expensive to live, homes start at 2 million and go past 10. Not including the 20k annually in homeowner association and club fees

• Winter Park – minimum combined sales tax is 6.5%
• Altamonte Springs- their tax rate  is zero, but the combined is 7% due to
Florida being 6% and the county adding 1% 
• Apopka – current total local sales tax rate is 6.5% 
• Baldwin Park- top neighborhood in Orlando, sales tax is 18% higher than
the national average
• Clermont – minimum combined sales tax rate is 7%

By County

• Orange County .94%
•Polk County .9%
•Osceola County .95%
•Lake County .98%

The point is simple, figure what you’ll pay in taxes as you calculate what the value of the home is. A $300,000 home in Windermere, versus Orlando could mean an additional $1500 a year in taxes. Clermont, as much as $1800. When my clients decide on what they can afford, we always calculate the taxes and then go shopping. A good realtor will take the value of the home the home buyer can afford, then look at the taxes to share a true cost. Once that’s out of the way, the agent can then look for the amenities the home buyer requires in their neighborhood. Let me know about your short term or long term relocation wishes for Central Florida. Whether renting or buying an existing home or new build, if knowledge of the Central Florida is important, make sure you have the right agent.

Claudia Bonilla
ClaudiaBonillaHomes.com

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