Learn me something about this tax bill in Broward County Florida

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Learn me something about this tax bill in Broward County Florida

Miguel "Mike" Perez
Flipper/Rehabber · Weston, FL · Member since 2015 · 44 posts · 24 votes

This tax bill is at least twice the amount for all other (30 or so) properties I have been evaluating.

Is there something to see between the lines?

Here is the tax bill:

https://www.broward.county-taxes.com/public/real_e...

Here is the listing:

https://www.redfin.com/FL/Lauderdale-Lakes/4031-NW...

Furthermore, it is the only tax bill I've looked at that has these very heavy yearly increases.

21% increase from 2012 to 2013 but when there is no cert, the tax increase is minimal like from 2013 to 2014 it only went up less than 1%.

It also has these early certificate issued, certificate redeemed.

For example, in 2014 the cert read $6353 but then $6677 was actually paid.

What are those and are those why are they causing the tax bill to rise at an alarming rate?

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Wayne Brooks
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
10y

Apparently, you don't realize what a "certificate" is?  When someone doesn't pay their taxes by June of the next year, a certificate is sold to pay those taxes.  When the certificate is "redeemed" (paid back by the owner) there is interest and a bunch fees added to it.

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  • Miguel "Mike" Perez
    OP
    Flipper/Rehabber · Weston, FL · Member since 2015 · 44 posts · 24 votes
    10y

    Anyone from south Florida see this before?

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  • Wayne Brooks
    Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    10y

    Apparently, you don't realize what a "certificate" is?  When someone doesn't pay their taxes by June of the next year, a certificate is sold to pay those taxes.  When the certificate is "redeemed" (paid back by the owner) there is interest and a bunch fees added to it.

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  • Lucas Machado
    Real Estate Investor · Sunny Isles Beach, FL · Member since 2013 · 788 posts · 333 votes
    10y

    While I agree the taxes seem very high for South Florida, it's comparable to other properties in that immediate area. If you go to the Broward County Property Appraiser site and search for that property, then click "previous" and "next" to see other properties near it, they all seem to have taxes between $5k-8k annually.

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  • Miguel "Mike" Perez
    OP
    Flipper/Rehabber · Weston, FL · Member since 2015 · 44 posts · 24 votes
    10y
    Originally posted by @Wayne Brooks:

    Apparently, you don't realize what a "certificate" is?  When someone doesn't pay their taxes by June of the next year, a certificate is sold to pay those taxes.  When the certificate is "redeemed" (paid back by the owner) there is interest and a bunch fees added to it.

    Very apparently.

    Thanks for the response.

    So it seems like once the tax bill receives that huge bump from the cert, then that tax bill remains inflated indefinitely?

    I get adding on the 20% in additional fees for the year the tax bill was not paid, but then it seems like the tax bill now takes on a new ceiling and keeps that 20% for years to come and then if it earns another certificate, then a new 20% higher ceiling is achieved.

    Is that common with certificates?

    That seems excessive.

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  • Wayne Brooks
    Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    10y

    No.  A certificate from one year has no bearing on subsequent years.  There are other factors that all key off the market/assessed value for that year: this is a 4 plex, no homestead exemption, millage rates change for county, city, school board, etc.

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