What tax does a buyer have to pay on real estate in Florida?

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This topic contains 3 replies, has 3 voices, and was last updated by Profile photo of katy katy 2 years, 11 months ago.

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  • #57750
    Profile photo of Anonymous
    Anonymous
    Participant

    If you buy a property in Spain you have to pay tax as a buyer: 10pc VAT if it is a new home, and up to 10pc in transfer tax (ITP) depending on the region if it is a resale.

    My question is, does anyone know if you have to pay tax as a buyer when you buy real estate in Florida?

  • #117895
    Profile photo of katy
    katy
    Spectator

    We paid about 1.5% but it is some years ago. Don’t have an update figure.

  • #118835
    Profile photo of Anonymous
    Anonymous
    Participant

    Katy’s 1.5% answer is pretty close, neglecting the selling and buying real estate agent’s percentage, which can add up to 7% to the final price. Tax stamps and other sundry fees are documented here: . This does not include the cost of a Title Company search or Title Insurance, which shouldn’t be too much more than $1000.

    The real killer is property taxes. We pay ~ 225 euros per year in Menorca for a property that is probably still worth ~120,000 euros. In Tampa, Florida, we would pay ~1,500 euros per year. Every county in Florida is different & you can explore here: .

  • #118852
    Profile photo of katy
    katy
    Spectator

    Yes the property taxes have shot up. Our house in Naples is now rented. A bit unfair as citizens who live there year round get a massive deduction. Having said that we paid over 1200€ for our villa in Marbella plus 875€ for urbanisation street lighting etc.

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