What happens if you do not pay your property taxes on time in florida - What happens if you do not pay your taxes for a number of years and your house is in foreclosure :: GoFTP Answers

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What happens if you do not pay your property taxes on time in florida

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Ginny

What happens if you do not pay your taxes for a number of years and your house is in foreclosure

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In Property Cont.08

Industry Experts

"Buys the tax certificates can hold those certificates for two years and then apply..."

They give you until March 31st of that year and if they are not paid in a timely manner then they will begin the process of advertisment. In this time frame they will allow someone to buy the tax certificates. That person who buys the tax certificates can hold those certificates for two years and then apply for a tax deed application. You can redeem your tax certificates from that person, but it will have intrest. In the state of Florida the intrest is 18 percent for the first year and 8 percent for every year after. Once they have advertised then 6 to 8 months after that they will begin the paper work for auctioning that property to the highest bidder. Who ever holds the tax certificates gets first choice. You can stop this process by just paying the taxes.

This answer closely relates to:

"Don`t pay the tax deed and the property is sold do i have to..."

what happens if you don`t pay the tax deed and the property is sold do i have to get out of my business immediately. can i pay the owner of the tax deed to keep my property

This answer closely relates to:

Q. If you purchase a motorcycle in florida and pay tax,title, and license at that time...?
is there a yearly personal property tax that has to be paid on the motorcycle? also, if you also have a home in arkansas, and you transfer the motorcylcle to ar, do you have to pay the purhcase tax all over again? or just the yearly personal property taxes? thanks. i guess, what i need to know is, does florida have a yearly personal property tax on motorcycles and cars? if so, do they send out a bill? or do you just register your vehicle each year in florida?

"This is not a personal property tax as i think you mean it..."

In Florida, all registered motor vehicles must display the current registration sticker (little yellow sticker with the expiration date in month and year) on their license plate. This is called the annual tag fee. I don't know about motorcycles specifically but for our 3 vehicles registered in Palm Beach County, it's in the $30-$40 range for each. I don't know the regulations in Arkansas, but I assume that if and when you register it there, you will have to pay the local registration fee, or whatever it is called there. As to the "purchase tax", if you mean sales tax, then it's no; you are not selling the vehicle, simply registering your own property in another state. Thanks for the additional detail. Every year, you receive a registration renewal notice in the mail. You send a check and they mail you back the new registration with the new yellow sticker. If you do not pay it, and you are driving with a FLorida tag, it will be "expired" and you are subject to a fine if you are operating it on the public roadways. This is not a personal property tax as I think you mean it. You can own the vehicle without renewing your annual registration it if you just keep off the public roads. When you renew, you are also required to provide your insurance company information (name and policy #)

This answer closely relates to:

Q. Do i pay captial gains taxes when i sell my investment property if it is the only property i own?
i currently own an investment property in florida and i am looking to sell it. i bought it in 5/2004. i currently rent an apartment in san francisco and so the only property that i own is that one in florida. i'm aware of a capital gains tax that you must pay any time you sell an investment property. what i'd like to do is avoid paying this tax if possible. i've heard that because it is my only property, it does not qualify as an investment property and so i wouldn't have to pay this capital gains tax. is this true?

"Which mean you can sale your current property and the proceeds of the sale..."

No But, You can do what is called a 1031 Exchange. Which mean you can sale your current property and the proceeds of the sale can be reinvested in an asset of a similar kind od property (like kind asset), then no capital gain or loss is recognized, this allows the deferment of capital gains taxes that would otherwise have been due on the first sale.

This answer closely relates to:

Q. Tax property just too high...!?
when it comes to tax property, when is the best time of the year to buy/close on new house if i am a first time buyer? i am from florida, orlando.. does it save any money when it comes to tax property? one of my friend told me that for first year you pay taxes only on land. i closed on december 22nd, 2007.. that makes me believe it would have been nice if i closed it in jan of 2008. that way i would have paid tax property only on land even though i lived in this house for whole year. is this true?

"You might pay tax only on the land for new construction..."

You might pay tax only on the land for new construction, but not if you buy an existing house. Most purchase contracts provide that tax will be prorated between the buyer and seller as of the date of sale. In Florida, you might be able to get the benefit of the early payment discount, but that is it.

This answer closely relates to:

Not paying your land taxes in ontario

Q. Retiring to florida from canada?
i own property in florida and have been spending more and more time there each year (up to 6 months each year). i would like to make this my permanent home so that i can stay there all year, and become a permanent resident in the us and pay taxes to irs. i have owned the property for 20 years and am financially independent. i am 70 years old. do i have to apply to immigrate or can i just move?

"You will always have to pay taxes on that income in canada..."

You would have to apply to immigrate in order to stay in the U.S. more than 6 months. Trouble is, Canada is over the quota for this 5 yr period and Canadians are not eligible to apply through the diversity lottery program right now. See 1st site below. Even when they are again eligible, it takes years, and you have a one in a 100,000 or greater chance of being chosen....as there are millions of people who want to immigrate to the U.S. If you are extremely wealthy, you can immigrate as an investor...but that takes a huge am't of money. You CAN move to a country like Mexico...their rules are totally different. You may reside there, become a "permanent resident" simply if you can show you meet a certain income retirement each year. But the U.S. would be completely overrun with people under a system like that. There is no visa for retirees like in some other countries. Also...just as a matter of interest...if your income is from a pension or interest or dividends in Canada...any source in Canada, you will always have to pay taxes on that income in Canada. You only pay taxes in the U.S. on money earned in any manner in the U.S. There are other ways besides the diversity lottery program to immigrate to the U.S., like employment based, if you have a rare skill, or family based, but these are very restrictive and also usually take years for the process.

This answer closely relates to:

Happens if property taxes not paid fl

Q. What taxes must be paid when selling personal property to a out of state reseller?
i have worked in the computer field for 25+ years in the state of pa. over the years i have collected a large quantity of computer / printer replacement parts. some of these parts were purchased by me, some were obtained at no cost. i have recently sold this inventory to a computer resale company in florida for $13,000. the buyer provided me with a tax exempt certificate so i did not charge any tax on the transaction. this was a one time transaction. i do not have a formal business set up nor will i be making any future sales. can you tell me how much and to whom i owe taxes to on this transaction? do i need to pay sales tax to pa? do i need to claim income tax? any help would be appreciated.

"You will file form 4797 "sale of business property"..."

It does not matter if you have a formal business set up or not. You will have either ordinary gain/ capital gain or ordinary loss/ capital loss depending on how long you held the property for. When it is time to file your tax return, you will file Form 4797 "Sale of Business Property";, which in essence that is what you did. Also, you will need to file Form Sch. D to report any gain or loss and that will go on the 1040 on line 13 or 14 depending on the situation. Genevieve f. - HR Block - Tax Advisor I The information supplied is for information use only. It is strongly advise that you seek out a professional that can help you make an informed and correct decision.

Q. Bush cut taxes , so who got the cuts . not me or anyone i know .?
when my income tax dropped my property tax rose to pay for decreases in federal dollars that once came to my state .then gas tax went up for the roads that need service when the fed cut money that was due back to my state .seems my state pays out alot and gets little back from the fed anymore . my taxes at every other place went up and my income tax droped a whopping 75$ i am awfully impressed with bush for the tax cut .i will thank him if i ever see him around . i see his little brother here in florida from time to time . he hangs out with a cuban drug dealer down here all the time .

"But your party loves to raise taxes..."

but your party loves to raise taxes? so what is wrong?

Q. I have a home in florida, i bought the house in 2003, i rent in connecticut, i am selling it. do i have to pay
do i have pay capital gains after i sell my property or at tax time ?

at tax time!

Q. Is it a good idea to move out at 16?
ok. so here is my situation. i'm a 15 year old male, and i'll be turning 16 in june. my parents moved here to tomball (small rural area in houston), texas a year ago in june 2009. now my dad, just because he wants to, wants to go back to miami, fl, back to the house we own over there. he wants to leave texas early june this year, once i finish school. my mom, my sister nor i want to move back. it’s just him, but according to the "pastor" of our church over there, he says we should move back and it was a mistake coming here. we are rented here and the rent is $1200 a month. our house over there is rented for $2,000 a month, yet the mortgage is only about $1,300, which leaves plenty of money left over for paying property taxes. so anyway, he says that we don't have enough money to continue living here, but it’s mostly because he has turned into a lazy bum watching tv and doing absolutely nothing except watch tv and eat all day. all of this with the excuse of “we can’t make money because we plan to do a bankruptcy and if we make money, they’ll deny it”. we own a cleaning company, which provides services such as carpet cleaning, upholstery and tile and grout cleaning, and about another million things we do. hell, we have enough work to be making $300,000 a year (not exaggerating) my mom is fed up with him because he doesn’t let her go out and work either. so i was planning to move out once we got to florida and earned money over the summer before school started again and drive directly back to texas. i have talked it over with my aunt who lives not even a quarter mile away from our house here in texas, and she and my uncle decided that i can move in with them and my cousin, since they have 3 spare rooms. anyway, i have about $4,000 saved up from a pressure washing part time and count on another $2-3,000 from pressure washing during the summer. here’s the thing, i don’t want to move from texas to florida. i have friends, my girlfriend (i’d be devastated, we’ve been going out for a year).and all of my professors absolutely love me (not kidding). i have a car secured which i bought on a bank repo auction for $2,000 (2003 audi). yet i still have to pay off. i’ll get my driver’s license once i turn 16. i’ve talked it over with my mom and she’s not too happy about the idea but understands my motives and is willing to let me leave. i know my dad would have a fit if i moved out at 16, but here what i say: tough. the only actual expenses outside the regulars you’d expect such as a cell phone bill, groceries and gas money (keeping in mind that i won’t be paying for housing), is my gym membership which runs me about $90/month (i have a personal trainer), and my basketball coach (about $100/month) once i have about $5,000 secured at least i plan to leave florida and move back to texas just in time for when the school year begins. one question i have is that my dad un-enrolled me from this school (he went stated that i won’t be going to it anymore, and they gave him all sorts of paperwork) and enrolled me in the school over in florida so we don’t have to deal with any of that when we get there. if i were to continue going to this school i’d have to re-enroll, and show proof of residence and everything. now, i don’t want to get an emancipation or anything, i’d just be living with relatives other than my parents and sister. it’s not like i’m being abused or endangered. my parents love me, and i understand that. i plan to visit them every once in a while, and i plan to move back once i graduate from high school (i’m a sophomore now), since i intend to go to the university of miami, which my current girlfriend also plans to attend. i (think i) have the money to support myself for a good while, considering the fact that i have no housing costs. i also own my own pressure washing equipment, so i can work. i believe that i am mature and independent enough to go through with this decision. one of the questions i have is: since i don’t have an emancipation or anything, and my legal parents are living in florida, would i have any trouble enrolling back into my school with my uncle or aunt if they don’t have my custody, and i am only living with them, though no legal documents say so? also, do you think it’s a good idea for me to move? if not, why? thanks for reading my rant, but i don't want an emancipation. i just want to move. my dad took it pretty well actually. i'm actually just moving in with some relatives. i don't want to become a legal adult at 16, i will still have caretakers. i just won't live with my parents. it's kind of like a friend of mine, who lives with her best friend, while her parents only live a few miles away.....

"The house in florida is much more expensive then the one here in houston..."

You need to talk to your mom and she needs to talk to your father. He needs to get his act together. The work is there, he just won't do it. The house in Florida is much more expensive then the one here in Houston, and it would be a financial mistake to leave here. If he files bankruptcy, you will lose the house in Florida. But for you- you cannot enroll in school without a parent or guardian enrolling you. Your mother can sign custody of you to your aunt and uncle to act as your custodian. Then, you are a legal resident of Texas and can be enrolled in school. But be prepared for your dad to put up a huge stink. I suggest a family intervention. Everyone needs to CALMLY talk to your dad. Tell them that none of you want to go back to Florida and you all want to make a life here in Houston. Hosuton has one of the lowest costs of living for a major city in the country! And Florida is alot more expensive to live in. You all need to talk about why he wants to move and weigh the pros and cons. This is a decision that affects the whoel family and he can't just make it on his own. If your mother really wants to put her foot down- she should let him go and stay here on her own. I'm not saying divorce- just not living together. The company is here and the work is there. She could work for and run the company and financially you all would be fine. He wants to go- let him go. Also remind him that the pastor's opinion is just that- an opinion. He does not have the authority to make choices in YOUR lives. He's a pastor- not God himself. And he is the only one that feels this move was a mistake.

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