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Homeowners suffer sticker shock after moving into their new home

Bad estimates on property taxes hurt buyers
Posted at 6:38 PM, Mar 21, 2017

In some cases it happens when a buyer moves into a newly constructed home. In others the house is placed on the market decades after the last sale.

Be aware, new homeowners face a tax bill that could amount to hundreds of dollars a month more than the prior owner paid.

Hillsborough Property Appraiser Bob Henriquez says his office fields dozens of calls from new homeowners every year when the tax bills go out.

One reason, the last person who lived there may have had different exemptions on top of the homestead exemption.

But Joe Perez, president of the Greater Tampa Realtors, says too often agents and title companies use last year's tax bills to calculate the next owner’s taxes which often are inaccurate.

After we brought the issue to the Greater Tampa Realtors group, Perez said he would write an advisory letter to all members regarding the importance of correctly calculating property taxes for buyers.

A tool on the property appraiser's website helps buyers and realtors alike pinpoint taxes on any parcel with little more than the address. 

 

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