Our clients whether establishing a primary residence or as second home buyers, need to know how taxes will affect them. Questions regarding taxes on second home purchases or primary homes can be addressed by our local Property Appraiser websites. They offer estimating tools, to help buyers figure out their tax implications. Taxes vary somewhat from county to county as well as from city to city.
The links below provide useful tools to estimate taxes onÂ purchases.Â Palm Beach County does not offer an Estimator on line, however, they had a Â short interesting explanation on condominium assessments. I have included an excerpt below.
The following information is from the Palm Beach County Property Appraiser Website:
The Condominium Department appraises residential and
commercial condominiums, townhouses and villas,
cooperatives and zero lot line properties.
Q. How is condominium property assessed?
A. Deputy appraisers use comparable sales data in similar communities to evaluate properties.
Q. How often are condominium properties looked at?
A. Deputy appraisers inspect each property at least once every three years. In addition, sales are analyzed every year for each complex.
Q. What is a condominium unit and how are they appraised?
A. A condominium is a type of ownership with individual units and shared common areas. We usually think of a condominium as a residential unit but it can include properties such as offices and warehouses, parking spaces, trailer parks, cabanas, timeshares, storage units and horse stables.