I have lived in FL twice. The wife and I bought this home in the Orlando area 5yrs ago and taxes and insurance have now DOUBLED almost TWICE!!!! We left the Republic of Cali over the traffic and the taxes. Florida has become Cali in this short period of time...overpopulated & overtaxed.

We were here in 2006 and went back for more of the Cali BS, high taxes and overregulation. We came back in June of 2018 to FL, bought a beautiful home on Lake Toho with a great 2ok gallon pool and hot tub and planned for this to be the last home. I'm not so sure that we will make this the last home based on the latest price gouging.

Taxes in:

2019 $2800
2020 $3300
2021 $3800
2022 $4400
2023 $4775

Home Insurance:

2019 $1900
2020 $2900
2021 $3800
2022 $4400 PLUS a $6300 hurricane deductible
2023 $6800 PLUS an $8500 hurricane deductible

This shit is RIDICULOUS!!!! Insurance would be reasonable if they stopped approving the IDIOTS that build their homes with the ocean on both sides and then rebuild it in the same spot after each storm using insurance funds. The roof scam contractors going door to door signing folks up that have normal wear/tear but submit false claims for roof repairs after storms have made a huge increase here too. We've had no claims, live on a beautiful lake and secure the home before each storm.

I'm unsure if our retirement plan should include paying this kind of taxes and insurance annually. We may need to revisit the Blue Ridge mountains or GA lake front property retirement plan. I won't retire for another 12yrs. The house has 3 times the loan balance in equity right now and will be paid off in 8yrs from now.

It's basically $12k now...WHAT DA HELL WILL OUR ANNUAL TAXES AND INSURANCE BE IN 12YRS WHEN WE DO TAKE EARLY RETIREMENT?

I always noticed a solid doubling the year after a substantial hurricane (Not substantial in its strength as a meteorological event, but its strength to cause financial damage to things).

Does your experience mirror that?

Well, at least you don't pay state income tax, think about those folks in CA, NJ, NY who pay double your taxes on smaller homes, not on a lake AND a share of their paychecks going to super liberal politicians who spend it against them...

At least here the money goes to support better rights, a better state government, excellent Sheriff offices for the most part, places where you can buy, load, and carry a gun the same day.

I get it, we moved here in 91 and have seen the same crazy increases.

Shop your insurance, every year, there area carriers with better rates out there, you just have to work harder now.

We're thinking the same, ride out until retirement, sell the house, take the money and run to the Mountains....

As for insurance, John Morgan does more damage than any hurricane ever does...

quote:

Originally posted by HRK:
Well, at least you don't pay state income tax, think about those folks in CA, NJ, NY who pay double your taxes on smaller homes, not on a lake AND a share of their paychecks going to super liberal politicians who spend it against them...

At least here the money goes to support better rights, a better state government, excellent Sheriff offices for the most part, places where you can buy, load, and carry a gun the same day.

I get it, we moved here in 91 and have seen the same crazy increases.

Shop your insurance, every year, there area carriers with better rates out there, you just have to work harder now.

We're thinking the same, ride out until retirement, sell the house, take the money and run to the Mountains....

As for insurance, John Morgan does more damage than any hurricane ever does...

I can't disagree with a single word you said. Guess I just needed to bitch and moan a bit. I'm glad we are blessed enough to be able to afford to pay it. I will probably cash out and head for the hills. I'm originally from VA, not far from the Blue Ridge mountains. We'll likely be there or GA if this doesn't get under control in the next decade. I won't pay $20k a year to insure and tax a home I own outright in retirement. That's just not gonna happen!

quote:

I won't pay $20k a year to insure and tax a home I own outright in retirement. That's just not gonna happen!

Right with you, just hope that when you retire there's still some Connecticut Yankee wanting to move here and $20K a year sounds like a deal LOL

quote:

Originally posted by OttoSig:
I always noticed a solid doubling the year after a substantial hurricane (Not substantial in its strength as a meteorological event, but its strength to cause financial damage to things).

Does your experience mirror that?

Yeah, We saw it once when we lived here before and again this time. It's just that the #'s started much higher before the double than the last time we lived here. The house in Cali was $13k taxes and was 1100 sq/ft with no land other than enough to put two trash cans. This home is 2800 sq/ft and on 3/4 of an acre with the amenities of a resort and best of all, NO HOA. As I am writing this I am realizing that maybe I should just SHUT UP! LoL

quote:

Originally posted by HRK:

quote:

I won't pay $20k a year to insure and tax a home I own outright in retirement. That's just not gonna happen!

Right with you, just hope that when you retire there's still some Connecticut Yankee wanting to move here and $20K a year sounds like a deal LOL

hahaha My brother is in CT now, paying an obscene amount of $ for taxes. I keep telling him to buy here and he just keeps paying and clearing snow year after year

That’s unreal for insurance. If it makes you feel any better I Paid $14k just in property tax. You guessed it, Illinois.

quote:

Originally posted by 1s1k:
That’s unreal for insurance. If it makes you feel any better I Paid $14k just in property tax. You guessed it, Illinois.

That's ALOT! That's what we were paying in Cali for a tiny house built in the 60's with no central a/c or heat and drinking glass windows. It was in Redondo Beach though. Nothing under a mil in LA unless you want to run to and from your car knife in hand.

I have to ask. Do you have Homestead Exemption on your home? If so that should limit tax assessments to 3% per year.

Insurance is killing me too though!

quote:

Originally posted by Pistolria:
I have to ask. Do you have Homestead Exemption on your home? If so that should limit tax assessments to 3% per year.

Insurance is killing me too though!

Yes, we have Homestead. It's no tax on first $50k of assessment value.

When you have hurricanes every couple of years that cost $10 billion or more, plus replacement cost on houses that now average $400K for a 3/2, it will never be enough. Sadly, that’s the reality of owning a house in FL.

Much of the past years increased are due to the massive influx of northern residents buying up property and paying full price during the hot market.

FL is still pretty hot real estate wise, homes sell quickly, my neighbors put their home up and it sold within a week, full asking price.

It's predicted that close to a million people will relocate to Central Florida in the next 20 years, we only have so much development land, they are pushing out of the city into grass lands.

Close by is Lake Jessup, one of the most dense alligator population lakes, it's where Disney dumped a bunch of gators years ago during development, now land that only god and animals have used is being developed, we are seeing Coyotes, more and bigger gators in our ponds, Racoons that are huge, had one in my trash, when I went to run him off he gave me the Finger, then stood in the road and told me to Kiss his ass before walking across the street. LOL

Right now Fl is still hot...

quote:

Originally posted by HRK:
Much of the past years increased are due to the massive influx of northern residents buying up property and paying full price during the hot market.

FL is still pretty hot real estate wise, homes sell quickly, my neighbors put their home up and it sold within a week, full asking price.

It's predicted that close to a million people will relocate to Central Florida in the next 20 years, we only have so much development land, they are pushing out of the city into grass lands.

Close by is Lake Jessup, one of the most dense alligator population lakes, it's where Disney dumped a bunch of gators years ago during development, now land that only god and animals have used is being developed, we are seeing Coyotes, more and bigger gators in our ponds, Racoons that are huge, had one in my trash, when I went to run him off he gave me the Finger, then stood in the road and told me to Kiss his ass before walking across the street. LOL

Right now Fl is still hot...

HAHAHA Racoon must be a New Yorker too! LoL

quote:

Originally posted by FLKev:

quote:

Originally posted by Pistolria:
I have to ask. Do you have Homestead Exemption on your home? If so that should limit tax assessments to 3% per year.

Insurance is killing me too though!

Yes, we have Homestead. It's no tax on first $50k of assessment value.

It’s more than the $50k thing. It’s also what Pistolria mentioned, a 3% per year cap on how much they can raise the taxable value of your home. The only way your taxes can go up more than the 3% is if they raised the mileage rate.

As an owner of a home with water on both sides, I’m not your problem. I quit paying for wind and flood 15 years ago when the combined premiums went over $10,000 a year.

South Florida homeowner here. I received a letter from Citizen's insurance through my agent that the state of Florida is requiring flood insurance starting this year with renewals. It's been optional for quite a while now.

quote:

Originally posted by trapper189:

quote:

Originally posted by FLKev:

quote:

Originally posted by Pistolria:
I have to ask. Do you have Homestead Exemption on your home? If so that should limit tax assessments to 3% per year.

Insurance is killing me too though!

Yes, we have Homestead. It's no tax on first $50k of assessment value.

It’s more than the $50k thing. It’s also what Pistolria mentioned, a 3% per year cap on how much they can raise the taxable value of your home. The only way your taxes can go up more than the 3% is if they raised the mileage rate.

As an owner of a home with water on both sides, I’m not your problem. I quit paying for wind and flood 15 years ago when the combined premiums went over $10,000 a year.

It’s not personal. The facts are that the areas that wipe out each storm do exactly that…they wipe out each storm. A person Living very far inland should not be subjected to the 40%-50% increases that are coming our way as a state and for each homeowner regardless of where we are geographically within the state. I understand Homestead and know what it does and doesn’t offer. My biggest increase has been in insurance and that what I’ve discussed mostly here. My taxes have risen considerably but the #’s I’ve shared show the small increments. The insurance is RIDICULOUS! As stated before

Sorry all the newbies are such a problem.
Orlando had 50,000 people when I grew up there.
When I-4 was built and an overpass went in, we slid down the sod embankment on cardboad.
Left after Mauchwitz came to town.
There is nothing there to miss.

quote:

Originally posted by 1s1k:
That’s unreal for insurance. If it makes you feel any better I Paid $14k just in property tax. You guessed it, Illinois.

As a long time Chicago resident I'm lucky to be on a senior freeze on my property taxes.
Most all my neighbors are paying $15,000.00+ per year for property tax. Add on a State income tax, highest utility rates in the country, and a Chicago sales tax of 10.25%. Home insurance and auto insurance also go's way up each year.
I'm sure our new Mayor will find many ways to get more $$$$$$ out of the whites in Chicago.

quote:

Originally posted by armored:

quote:

Originally posted by 1s1k:
That’s unreal for insurance. If it makes you feel any better I Paid $14k just in property tax. You guessed it, Illinois.

As a long time Chicago resident I'm lucky to be on a senior freeze on my property taxes.
Most all my neighbors are paying $15,000.00+ per year for property tax. Add on a State income tax, highest utility rates in the country, and a Chicago sales tax of 10.25%. Home insurance and auto insurance also go's way up each year.
I'm sure our new Mayor will find many ways to get more $$$$$$ out of the whites in Chicago.

WoW! I had no idea IL was that high. My brother lived there briefly but rented at that time so we never discussed it.