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Updated about 4 years ago,
1st Year property taxes at seller's rate or my rate (FL)?
Hi all,
I recently received my property tax bill for a new rental I purchased this year. The previous owner was an older owner-occupant and paid virtually nothing in property taxes due to homestead and other elderly exemptions. I made the mistake at closing of letting the title company prorate my tax credit based on her previous tax year.
I have now learned the county is charging me taxes at the full value despite the property being owned by the seller for almost half of the year ($1,600 vs. $450)
I'm confused because other investors have told me you "inherit" the previous owner's tax rate for the year in which the property is purchased.
Anyone else in Jacksonville or Florida who can comment? Is there a way to dispute it this late in the year?