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    ESTIMATING PROPERTY TAXES WHEN BUYING REAL ESTATE IN LEE COUNTY

     
    Florida property taxes are relatively unique because:
    • They are levied annually.
    • Taxes have to be paid in full and at one time (unless the property owner has filed for the installment programor for homestead tax deferrals).
    • Substantial discounts are extended for early payment.
    • Five months elapse before real property owners can be penalized for non-payment of taxes.

     

    The Lee County Property Appraiser's Office provides the Tax 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. The information displayed on this page was assembled from the Lee County property Appraiser  and serves only as a guide and is not warranted. 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 sales price. This is only an example to help you with your estimate for property taxes when purchasing a home.

    The sales price assumed here is $750,000. The shown millage rate varies from location to location. It is assumed in this example to be $15.7005 per thousand. We assumed no OLD homestead assessed values.

     

    Tax Estimator

    This Tax Estimator is a tool for prospective home buyers for estimating what the taxes will be on a particular piece of property. As with any such tool we are making assumptions about the future nature of the real estate market and what tax rates will be assessed by the various taxing authorities in Lee County. 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.

    Typically, real estate transactions include costs such as real estate agent fees. When sales are used as part of determining assessed values an adjustment is made for those fees. For this Estimator we used 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 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. For the purposes of this Estimator we use the tax rate from the immediately previous tax year. The actual tax rate may differ based on the decisions made by those taxing authorities.

     

    Estimated Sale Price: $750,000

    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 our Tax Reform Information page for a detailed description of this and other benefits available to residents. For the Market Value, enter the full assessed value of your previous homestead. For the Assessed Value, enter the value of your previous homestead with your Save Our Homes benefit applied.

     

    Estimated Assessed Value:

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

     

    Assessed Value

    The Tax Amount shown is an ESTIMATE based upon 90 percent of the Sales Price and the 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 millage (tax) rate and the inclusion of non-ad valorem assessments (e.g. garbage, sewer etc.). The Lee County Property Appraiser's Office provides this 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.

     

    Assumed Millage Rate in this example:

    15.7005   assumed in this example Millage Rate

    This is the tax amount per $ 1,000 of assessed property value.

    Estimated Taxes:

    $ 10,597

    Estimated Taxes with Homestead Exemption:

    $ 9,987

     

    Show Calculations

    Property Tax Calculations

    Assessed value is 90% of sale price:

    $ 750,000 * 90% = $ 675,000

    Estimated Taxes without Homestead Exemption or Portability Benefit:

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

    Homestead Exemption:

    $ 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 Sales Price you entered 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 millage (tax) rate and the inclusion of non-ad valorem assessments (e.g. garbage, sewer etc.).

     

    The Lee County Property Appraiser's Office provides this 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.

     

     
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