Estimating Property Taxes

Property Taxes in Holmes Beach, Florida – We are often asked by home buyers how much are the property taxes?  Well it depends.  People tend to rely on what the current owner is paying in property tax on homes that are for sale.  That may not be the best idea because the assessed value is often changed after a transfer of ownership.

Here’s how we estimate taxes.  Each city is different, but this is an estimate based on Holmes Beach. If we take the 2016 mill rate of 16.1090 for properties in Holmes Beach and divide by 1000 that gives us .016109.  We then multiply that by the assessed value.  For this example, let’s say we have an assessed value of $475,000.  That would be $7651.78 or just over 1.6% of the assessed value.

Now we would deduct any exemptions.  The homestead exemption is $25,000 of the assessed value.  So the taxable value has been reduced to $450,000.  Then the taxes are $7249.05.

There is an additional homestead exemption of $25,000 for homes valued at more than $50,000 and that does not apply to the school board mill rate  which is 6.92.  That will reduce your taxes another $229.73.  That brings your taxes to $7019.32 which is just under 1.5% of the sales price for a home with homestead exemption.

If you currently have Homestead Exemption on a property in Florida, you can transfer the “Save Our Homes” cap from an existing property to a new homestead, thereby saving you on your assessed value.

http://www.manateepao.com/dnn/FAQs/Portability-of-Save-Our-Homes

There are additional exemptions for disabled, widow/widowers, low income over 65 years old and deployed military.

More information is available on the Manatee County tax assessor’s website.

www.manateepao.com/dnn/General-Info/Estimating-Taxes

Estimating Property Taxes Anna Maria Island

In general, for Holmes Beach we can estimate that property taxes will be around 1.5 -1.6% of the assessed value.

The mill rate for the city of Anna Maria is 15.908700.  So we can use the same formula to guesstimate the taxes at just under 1.6% of the assessed value. The current mill rate for Bradenton Beach is 16.1920 so we can also estimate just over 1.6% of the assessed value to be the taxes.

Please remember, this is not to be considered legal or tax advice, just something to help you guesstimate the property taxes on your new home.  We’d love to be your Anna Maria Island Realtor.  Please contact us if we can help.

Jen and Mark Bowman, Keller Williams on the Water 941-840-0117 Anna Maria Island Real Estate

 

 

Runaway Bay

Runaway Bay

Runaway Bay is a swim tennis condo community in Bradenton Beach on Anna Maria Island. There are barbeque grills, picnic areas and views of Sarasota bay. Residents and visitors to Runaway Bay enjoy the large heated swimming pool, tennis courts and shuffleboard.  The recreation center offers fitness equipment and a sauna.

Runaway Bay pier to Sarasota Bay
Runaway Bay

It’s an easy walk across Gulf Drive to the beaches on the Gulf of Mexico.  The free Anna Maria Island Trolley stops right out front for easy traveling around the island. The trolley is the ideal way to travel around Anna Maria Island.  You won’t have to worry about finding a parking spot and it’s just more relaxing.  It comes by about every 20 minutes.

There are 186 condo units at Runaway Bay.  Some of the homeowner’s at Runaway Bay use the condos for vacation rentals.  Weekly rentals are allowed.  Units range in size from 691 square feet to 1080 square feet.  Many of the condos and single family homes on Anna Maria Island are small.  No one seems to mind because most people are spending their  time outdoors enjoying the beaches, fishing, bicycle riding, kayaking, paddle boarding & boating.


Runaway Bay is convenient to lots of restaurants, beach bars and boutique shopping on Bridge Street.  If you’re looking for more to do, you’ll find a calendar of events for Anna Maria Island on our website under Anna Maria Island Local Events. 
Runaway Bay is located at 1801 Gulf Drive North in Bradenton Beach on Anna Maria Island between Sarasota Bay and the Gulf of Mexico.
See all the homes for sale at Runaway Bay.

Call your Anna Maria Island Realtors Jen and Mark Bowman, Keller Williams on the Water to buy or sell your Runaway Bay Condo at 941-840-0117.

See below for related posts for Anna Maria Island Area Communities:

Westbay Cove

Island Paradise Condos

Sunbow Bay

Sandy Pointe

Bridgeport

Off Anna Maria Island:

Palma Sola Harbour in Bradenton, Florida

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New Years Day Polar Bear Plunge –

New Years Day Polar Bear Plunge Anna Maria Island Style – The Shamrock Shiver Charity Plunge – Here on Anna Maria Island, we’ve got our own version of a Polar Bear Plunge.   It will be at 12 noon on New Year’s Day at 12th Street South and the Gulf of Mexico in Bradenton Beach.  It is sponsored by Clancy’s Irish Pub, 6218 Cortez Road in Bradenton.  The plunge and post-plunge party at Clancy’s with the Jack Tamburin Band is a fundraiser for Caring for Children Charities, which helps disadvantaged children’s programs in Manatee and Sarasota counties.  For more information, call Jan Crudele at 941-952-1109.

The water temperature in the Gulf of Mexico will be around 70 degrees for our Polar Bear Plunge on New Year’s day.  (Anna Maria Island water temperatures peak in the range of 84 to 86°F around mid August and are at their minimum around mid February, in the range of 64 to 72°F .)     So, for a polar bear plunge it’s certainly not as cold as up north, but that’s why we live on Anna Maria Island.    The air temperature for New Years Day 2014 on Anna Maria Island is forecast for a high of 73 and a low of 55.  Let’s just hope that the high is there by noon for us! 

IMAG1729

We’ve gathered a group of friends and will be wearing grass skirts and leis.   If you want to join us, please let us know.  The more the merrier!  Call Jen Bowman, Keller Williams on the Water 941-840-0117.

If you’d like to see more of what’s happening on Anna Maria Island, please check out our events page which has the calendar of local events on Anna Maria Island.

If you’d like to own a piece of paradise see all the homes for sale on Anna Maria Island.

We wish you a very happy and safe New Year!