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Tyler Polen
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Property tax and insurance costs

Tyler Polen
Posted

Hey there. Does anyone have a good estimate for annual property tax and insurance on 10-20 unit apartments in Jacksonville FL?

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Gerardo Waisbaum
  • Investor
  • Jacksonville, FL
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Gerardo Waisbaum
  • Investor
  • Jacksonville, FL
Replied

@Claudia Ho The issue with this calculator is estimating the taxable value. It is not the purchase price.
In Duval County, the taxable value is 95% of the assessed value. 
However, there is a cap on annual increases to taxable value. I think that It cannot increase more than 3% per year, regardless of the assessed value (95% of the purchase price?).

You can then assume a 3% to 5% annual increase in the assessed value for subsequent years + 1% increase in the mileage rate.

Keep also in mind that there is a 4% discount if you pay the bill by Nov, 3% by December and so on

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