Florida ppty tax question: buying and transferring to LLC same year

Florida ppty tax question: buying and transferring to LLC same year

Investor · Brooklyn, NY · Member since 2013 · 254 posts · 28 votes

Hello,

If I purchase a rental property in Miami this year and close under my name initially, and then transfer the title to a LLC the same year, do I need to anticipate TWO times the property tax hike for next year? First reassessment when closing under my name initially, and then second reassessment when transferring the title to a LLC , even though all happening within 30-60 days in the same year.

Any advice would be appreciated. Thanks

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  • Investor · Fort Lauderdale, FL · Member since 2020 · 1k+ posts · 755 votes
    2y

    Hi Mary, you wouldn't need to worry about that if it occurs within the same calendar year. People do it all the time actually.

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