Buying Key West Real Estate
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Florida Keys Property Taxes
When
you purchase a
property in the Florida Keys, the taxes on the property will be reassessed
according to the new sales price. If the property had been Homestead
Exempted, the increase could be substantial. Therefore, DO NOT use
the prior years tax bill as a guide to what your taxes will be.
A good ESTIMATE of what your annual taxes may be after you purchase in the Florida Keys is to take the sales price and multiply that by 1.3%.
The Monroe County Tax Assessors office may be contacted at 305-294-4641. When you find a home you are considering purchasing, contact them with the address and they can tell you the exact tax ‘multiplier’for that specific area.
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As the information in these reports is subject to change, it is provided as a general guide and not to be relied upon in your decision to purchase or sell real estate in the Florida Keys.
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