Originally Posted by davidd

Property taxes are adjusted yearly based on sales for the previous year.

You pay property taxes on a fair market value and you get a $50K homestead exemption.

The property taxes range from 1% to 1.5% in most places. So property tax on a $150K house would be: $150K - $50K (homestead exemption) = $100,000 * .015 = $1500 tax bill. Once you are homesteaded your assessed value is locked in and can only rise 2% a year, regardless how much the value increases.

Your post may have been an issue a couple of years ago... but mainly to those who were low budget folks who could not afford the house to begin with... and the realized they had to actually pay taxes. Read this as subprime people who were renters their entire ife.

I never considered the property taxes to be issue what-so-ever.