DO
This is
just a
brief
description
of
Florida
and
Charlotte
County
taxes.
For more
information
about
Florida
taxes go
to
http://dor.myflorida.com/dor/taxes/
For more
information
about
Charlotte
County
taxes go
to
http://www.cctaxcol.com/
I.
Real
Estate
Taxes
Ad
Valorem
Real
Estate
Taxes
are
based on
the
value of
real
property,
and are
paid in
arrears.
The tax
year
runs
from
January
1st to
December
31st.
The
office
of the
Property
Appraiser
establishes
the
value of
the
property
and the
Board of
County
Commissioners,
School
Board,
City
Commissioners
and
other
levying
bodies
set the
millage
rates.
One mill
equals
$1.00
per
$1,000.00
of
property
value.
Using
these
values
and
allowing
for
exemptions,
the tax
roll is
completed
by the
Property
Appraiser
and
approved
by the
Department
of
Revenue.
The tax
roll is
then
certified
by the
Property
Appraiser
to the
Tax
Collector
who
mails
the tax
notice/receipt
to the
owner's
last
address
of
record
as it
appears
on the
tax
roll.
(Note:
The
owner of
record
is the
owner as
of
January
1st of
the tax
year.)
It is
the
responsibility
of each
taxpayer
to see
that the
taxes
are paid
and that
a tax
bill is
received.
F. S.
197.122
(1995)
In cases
where
the
property
owner
pays
their
Real
Estate
Taxes
through
an
escrow
account,
the
mortgage
company
should
request
and be
sent the
tax
bill,
and the
owner
will
receive
an
Informational
Notice.
II.
Discount
Periods
Tax
statements
are
mailed
on or
about
November
1st of
each
year,
with the
following
discounts
in
effect
for
early
payment:
A 4%
discount
is
allowed
for the
first 30
days
after
the
original
mailing
date.
Thereafter,
a 3%
discount
is
allowed
in
December,
a 2%
discount
in
January,
a 1%
discount
in
February,
and
there is
no
discount
allowed
in
March.
Taxes
become
delinquent
April
1st, at
which
time 3%
interest
plus
advertising
costs
are
added to
the
gross
amount
of the
tax.
(See
section
on
Delinquent
Property
Taxes).
Millage
can also
be known
as a
mill and
it is
1/10 of
a cent.
The
Millage
Rate is
the
amount
per
$1,000
that is
used to
calculate
taxes on
property.
Taxes
are
charges,
imposed
by an
authority
on
persons
or
property
for
public
purposes.
Therefore,
millage
and
taxes
are
related,
but they
are not
the
same. It
is the
Millage
Rate,
expressed
through
a mill,
that is
multiplied
against
a
taxable
value
(the
value of
your
home,
for
instance)
that
becomes
a tax.
The
Millage
Rate
determines
the
amount
to
charge
against
something
of
value.
It is
the job
of the
Property
Appraiser
(one of
the
elected
constitutional
officers)
to
appraise
the
value of
the
property
and then
certify
the
value of
the
property
in the
County.
After
exemptions
are
applied
(such as
the
Homestead
Exemption)
that
appraised
value
becomes
the
taxable
value.
The
taxing
authorities
then
determine
how many
mills
they
need to
charge
the
combined
taxable
value in
order to
receive
the
amount
of
revenue
they
think
they
need for
the next
fiscal
year.
(Taxable
value x
mills)/1000
= $$ in
revenue
Taxing
authorities
are
units of
government
that
determine
the rate
to
collect
monies
(tax)
and levy
taxes
for the
public
good.
These
types of
taxes
are
known as
Ad
Valorem
taxes:
taxes
based on
the
value of
property.
DOC
Stamps
Documentary
stamp
tax is
levied
on
documents
as
provided
under
Chapter
201,
Florida
Statutes.
Documents
subject
to the
tax
include:
Deeds
The
tax rate
for
documents
that
transfer
an
interest
in real
property
is $.70
per $100
(or
portion
thereof)
of the
total
consideration
paid, or
to be
paid,
for the
transfer.
An
exception
is
Miami-Dade
County,
where
the rate
is $.60
per $100
(or
portion
thereof)
when the
property
is a
single-family
residence.
If the
Miami-Dade
property
is
anything
other
than a
single-family
residence,
the tax
rate is
$.60
plus
$.45
surtax
per $100
(or
portion
thereof).
Bonds
Documentary
stamp
tax is
due upon
the
original
issuance
of bonds
in
Florida.
The tax
rate is
$.35 per
$100 (or
portion
thereof)
based
upon the
face
value of
the
bond.
Notes
and
Other
Written
Obligations
to Pay
Money
The
tax rate
on a
written
obligation
to pay
money is
$.35 for
each
$100 (or
portion
thereof)
of the
obligation
evidenced
by the
document.
Tax is
due on a
document
that
contains
a
promise
to pay a
specific
amount
of money
and is
signed,
executed,
or
delivered
in
Florida.
The
maximum
amount
of
documentary
stamp
tax due
on
unsecured
notes or
other
written
obligations
to pay
money is
$2,450.
Examples
include:
Mortgages,
Liens,
and
Other
Evidences
of
Indebtedness
Documentary
stamp
tax is
due on a
mortgage,
lien, or
other
evidence
of
indebtedness
filed or
recorded
in
Florida.
The tax
rate is
$.35 per
$100 (or
portion
thereof)
and is
based on
the
amount
of the
indebtedness
or
obligation
secured,
even if
the
indebtedness
is
contingent.
When a
mortgage,
lien, or
other
evidence
of
indebtedness
is given
to
secure a
previously
unsecured
indebtedness
or
obligation
upon
which
the
maximum
tax of
$2,450
was
paid,
tax is
due on
the full
amount
of the
indebtedness
or
obligation
secured,
minus
the
$2,450
already
paid.
C
Stamps
Documentary
stamp
tax is
levied
on
documents
as
provided
under
Chapter
201,
Florida
Statutes.
Documents
subject
to the
tax
include:
Deeds
The
tax rate
for
documents
that
transfer
an
interest
in real
property
is $.70
per $100
(or
portion
thereof)
of the
total
consideration
paid, or
to be
paid,
for the
transfer.
An
exception
is
Miami-Dade
County,
where
the rate
is $.60
per $100
(or
portion
thereof)
when the
property
is a
single-family
residence.
If the
Miami-Dade
property
is
anything
other
than a
single-family
residence,
the tax
rate is
$.60
plus
$.45
surtax
per $100
(or
portion
thereof).
Notes
and
Other
Written
Obligations
to Pay
Money
The
tax rate
on a
written
obligation
to pay
money is
$.35 for
each
$100 (or
portion
thereof)
of the
obligation
evidenced
by the
document.
Tax is
due on a
document
that
contains
a
promise
to pay a
specific
amount
of money
and is
signed,
executed,
or
delivered
in
Florida.
The
maximum
amount
of
documentary
stamp
tax due
on
unsecured
notes or
other
written
obligations
to pay
money is
$2,450.
Exa
Mortgages,
Liens,
and
Other
Evidences
of
Indebtedness
Documentary
stamp
tax is
due on a
mortgage,
lien, or
other
evidence
of
indebtedness
filed or
recorded
in
Florida.
The tax
rate is
$.35 per
$100 (or
portion
thereof)
and is
based on
the
amount
of the
indebtedness
or
obligation
secured,
even if
the
indebtedness
is
contingent.
When a
mortgage,
lien, or
other
evidence
of
indebtedness
is given
to
secure a
previously
unsecured
indebtedness
or
obligation
upon
which
the
maximum
tax of
$2,450
was
paid,
tax is
due on
the full
amount
of the
indebtedness
or
obligation
secured,
minus
the
$2,450
already
paid.
Florida Tax Information
*From the Department of Revenue
The property tax is Florida's largest local
government revenue source. Property tax revenues play a major role
in financing public education, fire and police protection and other
public services. Statewide, counties, cities and special taxing
authorities levied more than $15.3 billion in property taxes in 2000
on more than 9.6 million parcels valued at over $1.02 TRILLION. This
makes the property tax the second largest tax administered by
government in Florida, ranking only slightly behind the State's
sales and use tax.
Will You Purchase a Home or Business Property, Apply for a Mortgage
or Loan, or Purchase Bonds?
Documentary stamp tax is levied on documents that transfer interest in
Florida real property, such as warranty deeds and quit claim deeds. This tax is
typically paid to the Clerk of Court at the time the document is recorded.
Documentary stamp tax is also levied on notes, certain renewal notes, bonds,
and other written obligations to pay money executed, signed or delivered in
Florida and mortgages and other liens filed or recorded in Florida. The tax is
paid to the Clerk of Court if the document is recorded, or sent directly to the
Department of Revenue, if not recorded.
Sales Tax
Florida's general sales tax rate is 6 percent. Each retail sale, admission
charge, storage, use, or rental is taxable, along with some services. Some items
are specifically exempt. Some counties impose a discretionary sales surtax in
addition to the 6 percent state tax. The county tax rates can range from .25 to
2.5 percent, and are levied on the first $5,000 of the purchase price. The
$5,000 limit does not apply to commercial rentals, transient rentals, or
services. Consumers pay sales tax and any county-imposed taxes to the seller at
the time of purchase.
Florida
does not impose personal income, inheritance, or gift taxes.
However, there are other taxes and fees that, in certain counties or
circumstances, Florida residents may be required to pay, such as: convention
development tax, local option tourist tax, fuel, communications services tax,
gross receipts tax, lead-acid battery fee, new tire fee, motor vehicle fee
(Lemon Law), or rental car surcharge.
Motor Vehicle Registration and Taxes
Florida's 6 percent use tax applies to and is due on motor vehicles brought
into this state within 6 months from the date of purchase. If the purchaser
resides in a county that imposes a discretionary sales surtax, that tax also
will apply. Use tax and discretionary sales surtax do not apply if a like tax
equal to or greater than 6 percent has been lawfully imposed and paid to another
state or District of Columbia.
It is presumed that a motor vehicle used in another state, territory of the
United States, or District of Columbia for 6 months or longer before being
brought into Florida was not purchased for use in Florida. To qualify for
exemption from use tax, you must provide documents to prove that the vehicle was
used outside Florida for 6 months or longer.
The full amount of use tax (6 percent) applies and is due on any motor
vehicle imported from a foreign country into Florida. It does not matter if the
motor vehicle was used in another country for a period of 6 months or more prior
to the time it is brought into Florida. Furthermore, Florida does not recognize
tax paid to another country when calculating the tax due. The tax is calculated
on the value of the vehicle at the time it is brought into Florida, not on the
original purchase price.
For information on registration costs, regulations, driver licenses and
minimum liability insurance coverage requirements, contact the Department of
Highway Safety and Motor Vehicles. Visit their Internet site at
www.hsmv.state.fl.us/dhsmv/newflres.html or call 850-617-2000.
Payment of tax due on motor vehicle registrations and the purchase of Florida
license tags may be handled at the local county tax collector's office.
