Miami Real Estate Tax Estimator

When a property sells the taxes are recalculated to reflect the current Assessed Value. Many home owners pay property taxes on less than  assessed or market value because the home is 'Homesteaded.' Once homesteaded property taxes can only rise by 3% /yr until the house is resold. The Homestead Exemption als lowers the Estimated Property Value by $25,000...a tax break for people who live in their own home.

Property taxes are calculated by taking the Tax Appraisors estimate of the property value and multiplying it by a 'Millage Rate'  Millage is just a multiplier that allows the Tax Appraisers to determine the taxes you will pay.

In order to estimate the taxes on a purchase, take the Purchase Price and multiply by 0.7.( Properties sell for more than the Tax Appraisers estimate of value) and then enter that amount into the Dade County Tax Estimator Calculator to be found in following link.

Example:                                                              Sale  Price $200,000                   
Multiply by 0.7                                                     Tax Value  $140,000
Multiply by 26 (Average millage)                        Tax Range $2600 to $3000

 Link to Miami-Dade Tax Estimator

These number are only good faith estimates ( in many instances they will over-estimate the taxes) and the properties actual taxes may be more or less depending on the Tax Assessors Valuation. The Millage rate is only an estimate, rates vary by individual municipality. Actual millage rates can be found on the Dade County Tax Appraisors Site...follow the link above.

Call your Miami Realty Expert Nell Kellett at 305-968-2122 or e-mail us at nellie@miamicondoexpert.com

Miami Real Estate Tax Estimator

When a property sells the taxes are recalculated to reflect the current Assessed Value. Many home owners pay property taxes on less than  assessed or market value because the home is 'Homesteaded.' Once homesteaded property taxes can only rise by 3% /yr until the house is resold. The Homestead Exemption als lowers the Estimated Property Value by $25,000...a tax break for people who live in their own home.

Property taxes are calculated by taking the Tax Appraisors estimate of the property value and multiplying it by a 'Millage Rate'  Millage is just a multiplier that allows the Tax Appraisers to determine the taxes you will pay.

In order to estimate the taxes on a purchase, take the Purchase Price and multiply by 0.7.( Properties sell for more than the Tax Appraisers estimate of value) and then enter that amount into the Dade County Tax Estimator Calculator to be found in following link.

Example:                                                            Sale  Price $200,000                   
Multiply by 0.7                                                    Tax Value  $140,000
Multiply by 26 (Average millage)                        Tax Range $2600 to $3000

Link to Miami-Dade Tax Estimator

These number are only good faith estimates ( in many instances they will over-estimate the taxes) and the properties actual taxes may be more or less depending on the Tax Assessors Valuation. The Millage rate is only an estimate, rates vary by individual municipality. Actual millage rates can be found on the Dade County Tax Appraisors Site...follow the link above.

Call your Miami Realty Expert Nell Kellett at 305-968-2122 or e-mail us at nellie@miamicondoexpert.com