Property Taxes in Florida are an important consideration in estimating your total cost of ownership. In Volusia County there are several taxing districts; Municipalities such as Daytona Beach or Ormond Beach have their own millage rates. Properties in unincorporated areas of Volusia County usually have lower rates. The Spruce Creek Fly-in is located in unincorporated Volusia County.

Florida has a number of exemptions that you may be eligible for. There are several initiatives to reduce property taxes and that, if passed, will provide relief for many homeowners. Visit the Volusia County Property Appraisers Office for details.

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A new proposal on the Florida November 2008 ballot will, if voted by Floridians, make a dramatic decrease our State’s property taxes and will certainly help in the recovery of Real estate in Florida. Runaway Property Taxes have played a significant part in the current Real Estate Crisis.


The Florida Taxation and Budget Reform Commission voted to put a significant tax savings plan before Florida voters in November. If the measure passes as expected, some Florida property owners could realize savings of over 33% of what they were paying before. The bulk of the savings are a result of eliminating property taxes that the legislature requires school districts to levy in order to qualify for state aid. At the ballot, the proposal will need 60% of voters’ approval.

The state will recoup some of the expected eight billion dollars in taxpayer relief by hiking the sales tax by one cent. Once the proposal passes, we expect a spike in property values as they adjust to the new economics. Commercial properties will see an immediate increase in NOI and much higher values at the same Cap. Rates. Additionally, if interest rates decrease as expected, we will see an even more magnified effect on values as Cap Rates decrease.

Learn more at the Florida Real Estate Blog (www.FloridaBits.com)

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