Wellington Florida Real Estate News- Your Property Taxes

Wellington Florida Real Estate News- Your Property Taxes

Your property taxes may be going up even though your property values went down. Because the village of Wellington and Palm Beach county lost money because of the downturn in the market they are still not willing to stop hiring their sisters and aunts and uncles for positions that should be cut off in this economy.

You should have received your proposed tax bill in the mail by now.

In the state of Florida you pay your property taxes in arrears. That means that you live in your house for a year and then you pay the property taxes for the year you just lived in your house. Many states you pay ahead of time so this is sometimes confusing to new residents when they relocate to Florida and even more so when it comes time to sell your home because you are going to have to pay your prorated share of property taxes at the closing.

46% of all the residents of Palm Beach county will be paying more in property taxes next year than they did last year even though your property values declined. 36 towns in Palm Beach County are also increasing their municipal taxes which are a part of your tax bill. Even with higher tax bills the county will still collect less in taxes.

Wellington Florida's current rate is $2.34 and it is proposed to go up to $2.8 an increase of 19.7%.

Port St Lucie in St Lucie county is going to have one of the largest tax hikes, a whopping 34.7%! OK, the prices have plummeted in Port St Lucie to the point where you can buy a 2500 square foot house, under air footage, for less than $150,000! This has made it possible for public workers such as teachers and police officers be able to buy a home again. Then they get shocked with a tax bill hike! It is all relative I tell our clients. You pay for a cheaper house you make up for it in taxes. The city of Port St Lucie lost 11 million dollars in revenue due to the decline in their market and the city counsel says they will have to close all the parks if they don't raise taxes. I don't think that is the case. I think with proper planning and saving this could have all been avoided. What do they do with all the money during the good times?

Local governments need to cut their expenses. They don't need to pay top dollar for all the services. For instance, here in Wellington Florida they saved a lot of money by not cleaning the park bathrooms 3 times a day. Just by reducing the cleaning by one time per day they saved a lot of money. Also, if the cities would stop using expensive cleaning products and simply use vinegar and baking soda, not only would they save a ton of money, they would also avoid toxins.

Stay tuned to learn how to challenge your proposed tax assessments.

To view Florida Short Sales- Click here. We know Palm Beach County Short Sales and Port St Lucie Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida : Call us today.

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Wellington Florida Real Estate News- Your Property Taxes -was first published on South- Florida-Luxury-Living.com.

Copyright © 2009 By Katerina Gasset, All Rights Reserved.*Wellington Florida Real Estate News- Your Property Taxes.*