Mortgage rates today monitorbankrates.com/mortgages are expected to be near historical lows for the entire year and real estate prices in Florida continue to decline. One bright spot with falling home prices in Florida is many home owners are paying no property taxes. That’s right, thousands of homeowners don’t pay a dollar in property tax because their homes have been removed from the tax rolls.
Higher homestead exemptions and falling home prices that essentially removed houses from the tax rolls to the point where about 7,000 home owners in Florida.
For many of those with tax bills of zero, their properties are valued less by county property appraisers than their qualified homestead exemption, usually $25,000. For properties worth more, a $50,000 exemption brings the tax bill down to almost nothing.
If you’re upside down on a home in Florida this is a bright spot. Considering mortgage rates today are hear historic lows maybe the housing market will stabilize in Florida or at least stop declining. If I could buy a home that costs 50 percent less than it did a few years ago and not pay any property taxes it would be a good deal.
Combine that with low mortgage rates current the home you buy in Florida mighte be the best bargain you ever get.