Fort Lauderdale Property Tax
A question that always comes up and will probably continue to come up, is the question of Fort Lauderdale properyt tax. Many prospective home buyers will asks, “what the property tax on this property, and can you send me that current information?” Of course I can send you the current Fort Lauderdale property tax bill, but the information is not very useful!
The truth is, it really doesn’t make a difference what the current property taxes are on a property you may considering purchasing. The property taxes will re-appraised based upon the purchase price of the property, not what the current owner is paying. When you look at the current tax bill of the current homeowner may have a homesteaded property exemption for the past 10 to 20 years, effectively keeping the tax bill lower than it would otherwise increase under normal circumstances. On top of the homestead exemption the increase is kept to a minimal percentage based on their original purchase price. The Fort Lauderdale property tax bill may be base on $100,000, but today they are selling for $375,000. The difference will be a bit of a shock if I gave you that information since your new Fort Lauderdale property tax liability will be approximately $6,200 and $7,200, depending on whether or not you qualify for homestead. In Broward County, property tax is estimated at about 2.0% of the purchase price.
Before you begin your new home search you want to find out the true cost of home ownership. Visit Broward County Property Appraiser’s website where you can use the Tax Estimator to find out what your Fort lauderdale property tax liability will be. Homstead and other deductions you may qualify for are also listed and provide rough estimates based on your conditions. Use this tool to help determine your new property tax and find out how much of a home you can really afford. Coming next, insurance!
The Estimated Tax is just that, an estimated value based upon the average Millage Rate of 21.1937 mills (or 2.11937%). Senior Exemptions are not taken into account for the estimated tax amount. Your Taxes may be higher or lower. This estimate does not include any Non-Ad Valorem assessments/Fees (Fire, Garbage, Light, Drainage, Improvement or Safe Neighborhood Assessment)
Note: Millage rates are subject to change.
Fort Lauderdale Property Tax Decuctions
- Homestead Exemption
- Widow/Widower Exemption
- Disabled Veteran Exemption (requires VA service-connected disability rating of at least 10%; un-remarried surviving spouses also eligible to claim exemption).
- Veteran Service-Connected Total and Permanent Disability Exemption.
- Disability Exemption for Blind Persons
- Total & Permanent Disability Exemption – For persons NOT requiring a wheelchair for mobility.
- Total & Permanent Disability Exemption – For paraplegics and persons requiring a wheelchair for mobility and the legally blind (requires total adj. household income of under $27,732).
- Total & Permanent Disability Exemption – Quadriplegic Persons