Today, we’re going to talk about property taxes. The good news is property values are up. The challenge is that when property values go up, so do your property taxes.
If you have a homesteaded property, you definitely have good news. Thanks to Save the Home protection, many people saw almost no increase in taxes on their homesteaded property, even though the property’s value went up.
If you own a second home, commercial property, or investment property, you probably saw your taxes increase by as much as 13%. Property values are only going to continue to rise, so make sure your budget allows for property tax increases in 2016.
Now, if you purchased a homesteaded property in 2014, you were probably surprised with a big jump in your property taxes. You do get that homestead protection, but you lost all of the savings that the previous owners collected over time.
If you’re thinking of buying, you need a real estate agent who can help you maneuver all of those situations. We’re here to help you maximize the property’s value and make the right decisions. If you own an investment property or second home and aren’t sure what to do from here, we can help you as well.
If you have any questions at all about property taxes, please do not hesitate to reach out to us. We would be happy to help you!