Whether you flip residential houses in Florida or own commercial real estate located in Florida property, Florida taxes are now due for all owners of property located in the state. These 2015 Florida property taxes now due are payable through your county’s tax collector’s office.
Longtime owners of Florida real estate know that property taxes are due by March 31 each year. Savvy owners know they can get a discount on those taxes simply by paying a little early.
If you pay your Florida property taxes before the end of November you will receive a 4% discount on taxes. If you can’t make a payment by the end of November, that’s okay. There are 3 additional opportunities to receive a discount on taxes.
Payments made during December will receive a 3% discount, during January a 2% discount, and during February a 1% discount. Because taxes are technically due in March 2016, there is no discount for paying them during March. Starting April 1 property taxes become delinquent and interest accrues. The following table shows the range of discounts available:
Discounts on Florida Property Taxes Now Due
Payment Date Discount %
. November 4%
. December 3%
. January 2%
. February 1%
. March No discount – payments due
. April 1 Taxes become delinquent,
. interest accrues
In Florida, there are also property tax exemption benefits, including but not limited to various homestead exemptions, widow(er) exemptions, senior citizen exemptions, and veterans exemptions. The homestead exemption is available to the owner of his or her primary permanent residence located in Florida. The homestead exemption is for $50,000. Speak to a knowledgeable tax attorney or CPA to discuss what exemptions you may qualify for.
As buyer or seller, if you recently closed on a property in Florida, or you plan to close on a Florida property before the end of the year, beware that property taxes are still due for that property and the discount chart above still applies.