Estimating Property Taxes when buying real estate in Lee County | SanCapRE.com




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Estimating Property Taxes when buying real estate in Lee County

Florida property taxes are relatively unique because:

The basic timing of the property tax system in Florida is as follows:

The Lee County Property Appraiser's Office provides a Tax Estimator as a service to the public and neither warrants nor certifies the tax amounts shown to be representative of current or future taxes. The information displayed on this page was assembled from the Lee County Property Appraiser's Tax Estimator and serves only as a guide and neither warrants nor certifies the tax amounts shown on this page to be representative of past, current or future taxes. For more information please contact the Appraiser’s office directly at 239-533- 6100.

The Tax Estimate shown here is an ESTIMATE based upon 90 percent of the assumed sales price. 

Typically, real estate transactions include costs such as real estate agent fees. When sales prices are used as part of estimating assessed values, an adjustment is made for those fees. The ESTIMATOR uses 90% of the entered sales price to establish an assessed value. Your actual assessed value to sales price ratio may be higher or lower than this amount. 

The sales price assumed on this example is $750,000.

Please note the following: The sales price of an individual property does not directly affect the assessed value used to calculate taxes. Rather, the sales of like properties throughout the year as well as other statistical and valuation methods are used to create the assessed value. As long as the Estimated Sales Price entered is a reflection of the market, the assessed value used in the calculation will be a reasonable estimate for this purpose.

Likewise, if the Estimated Sales Price is significantly lower or higher than what other similar properties have sold for the results of the calculation will not be a reasonable estimate.

Assumed Sales Price for this example: $750,00

Save Our Homes Portability - None assumed in this example

Save Our Homes Portability. If you received a homestead exemption in the State of Florida on a home you sold or no longer claim as your homestead and purchase a new home within two years, you may be eligible to take some or all of your “Save Our Homes” benefit to your new home. Visit the Lee County Property Appraiser's Tax Reform Information for a detailed description of this and other benefits available to residents.

Estimated Assessed Value:

$675,000 ($750,000 x 90% = $675,000)                                                  

Millage rates vary in Lee County. If you know the address, call me at 239-851-4512 and I will tell you the millage rate currently being used by the Tax Estimator.

This table shows you a few selected millage rates in Lee County. The actual tax rate used to calculate property taxes is set every year by the various taxing authorities in Lee County. Historically, tax rates have fluctuated within a fairly narrow range. The below millage rates were used by the Tax Estimator on April 2, 2018. The actual millage rate may differ based on the decisions made by those taxing authorities.     

Location

Millage Rate Per Thousand of Assessed Value

Sanibel Island

$15.1824

SE Cape Coral, SW Cape Coral

$18.9668

NW Cape Coral, NE Cape Coral

$18.9668

Punta Rassa, Mastique, Gulf Harbour, Kelly Greens, Crown Colony, The Landings, Reflection Lakes, Renaissance, Reflection Lakes

$15.3385

Paseo

$20.6294

Pelican Preserve, Marina Bay, The Plantation, Colonial CC, Botanica Lakes

$20.6294

Miromar Lakes Beach and Golf Club

$15.7885

Grandezza, Stoneybrook in Estero, Bella Terra, Wildcat Run, Preserve at Corkscrew, West Bay Club, Pelican Sound, The Brooks

$14.8892**

Corkscrew Shores

$15.0185

Spanish Wells, Waterford, Bonita Lakes, The Colony

$15.1267

Pelican Landing

$14.8892

 

Assumed Millage Rate in this example

$15.7005 assumed in this example. This is the tax rate per $ 1,000 of assessed property value in this example.   

The Tax Amount shown below is an ESTIMATE based upon 90% of the sales price and the ad valorem millage (tax) rate applied to the property.

Property Tax Calculations

Assumed Sales Price = $750,000

Assessed Value is 90% of Sales Price

750,000 * 90% = $ 675,000

Estimated Taxes without Homestead Exemption or Portability Benefit

$ 675,000 * ($ 15.7005 / $ 1000) = $ 10,598

Homestead Exemption assumed in this example:

$ 50,000

Taxes for assessed amount not exempt from school millage

$ 174

Estimated Taxes with Homestead Exemption and Portability Benefit

($ 675,000 - $ 50,000) * ($ 15.7005 / $ 1000) + $ 174 = $ 9,987

Note: The Tax Amount shown is an ESTIMATE based upon 90 percent of the assumed Sales Price and the current ad valorem millage (tax) rate applied to the property. The actual tax amount for this property may be more or less depending on a variety of factors including changes to the assessed value, changes to the millage (tax) rate and the inclusion of non-ad valorem assessments (e.g. waste, sewer etc)

The Lee County Property Appraiser’s Office provides the Estimator as a service to the public and neither warrants nor certifies the tax amounts shown herein to be representative of current or future taxes. This webpage does not warrant nor certify the tax amounts shown herein to be representative of past, current or future taxes.