Florida Property Taxes
Florida Property Taxes: What Every Homebuyer Needs to Know Before Closing Buying a home in Florida is exciting — but there's one thing that catches a lot of buyers off guard: their property tax bill after closing looks nothing like what it was when the previous owner had the home. If you've ever wondered why that happens, or what a "TRIM notice" or "escrow shortage" even means, you're in the right place. Why Your Property Taxes Will Likely Go Up After You Buy Here's something that surprises a lot of buyers: the property taxes listed on a home's current record are often not what you'll actually pay once you own it. In Florida, property is assessed at its just (market) value — but many longtime homeowners have enjoyed years of tax savings through protections like the Homestead Exemption and the Save Our Homes cap (more on both of those below). When a home is sold, those protections don't transfer to you. The property gets reassesse...