Tampa Bay Real Estate News: If you moved in 2007 – Act by March 3rd to claim Portability Property Tax Benefit

Clearwater Florida – Many of you have read my articles explaining Florida  Real Estate Property taxes for Tampa Bay homeowners and the changes Amendment 1 brought about. If you or anyone you know bought a home or condo in Florida and moved from one homesteaded property to another in 2007 then please listen up, you’ve got to act fast to benefit from the new property tax portability benefits of a 3% cap on your new Tampa bay property as well as trasferring some property tax equity. This could save you thousands of dollars this year and every year after. 

How big of a difference does it make – we know someone who downsized before we had Amendment 1 in 2006 and they sold a $400,000 home and bought a $200,000 home and their taxes doubled (so really they went up 4 time since portability didn’t exist) and that translated into about $2000 a year more they will pay in property taxes FOREVER. Don’t let this happen to you.  

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Which Tampa Bay Homeowners who must act now

If you purchased a new house in Tampa Bay from January 1, 2007 to December 31, 2007 you are the big winner if you act now because you can prevent your taxes from jumping on your new property by moving  what I like to call “your tax equity” to your new property but it’s NOT automatic.  So what do you need to do? Here’s the process…  

What’s the Property Tax Portability filing process?

You must fill out forms at your county’s property appraiser office and bring something with your new address on it. This can be:

  • your updated driver’s license,
  • your voter registrration card or
  • your vehicle registration.
  • and if you are a resident alien bring your green card too.

How do I find out more information about Tampa Bay Property Taxes?

Local Tampa Bay Property Appraiser’s Office

  • Pinellas County Property Appraiser’s Office: (727) 464-3207 or pcpao.org.
  • Hillsborough County Property Appraiser’s Office at (813) 272-6100 or hcpafl.org
  • Pasco County Property Appraiser’s Office: (352) 521-4433 or  http://pascocounty.gov

It’s still a home buyers market so if you are looking to buy property – check out the Tampa Bay MLS and see all the Tampa Bay real estate for sale right now.

Tags: florida+property+taxes, portability, tampa+bay+real+estate, portability+calculator
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