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Thursday, June 14, 2012

Brevard County Florida Property Taxes - Market Value, Assessed Value, Homestead Exemptions

In addition to the mortgage, homeowner's insurance and association fees, home buyers need to consider the current and projected property taxes when thinking about buying a new home.

As a Brevard County, Florida real estate agent I advise buyers that the current taxes and assessed value of a property is not a guaranteed predictor of the future taxes on a property.

The current exemption status of a home on January 1st of the year determines the exemptions for the current year only.

The below information has been extracted from the Brevard County Property Appraiser web site:

Homestead exemption status affects the property tax bill for homeowners as well. The exemption status of a new home on January 1st affects the property tax bill for the entire year as property taxes are paid at the end of the year.

There are basic homestead exemptions like the $25,000 (sometimes $50,000 exemption) plus special exemptions for Disability ($500), Blind Persons ($500), Totally & Permanently Disabled Persons (Civilian)Disabled Veterans, Service Connected Total & Permanent Disability Exemption plus a few other special categories. 

Check out the Brevard Property Appraiser web site here.

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