Unit 18 of 19

Taxes affecting real estate

Ad valorem property taxes, exemptions, special assessments, and the income tax rules that affect homeowners and investors.

  1. 1
    Ad valorem taxes, values and millage
    How Florida property taxes are figured from just value, assessed value and taxable value, how millage works, and what the property appraiser, tax collector and value adjustment board each do.
    +50 XP
  2. 2
    The tax calendar, tax certificates and tax deeds
    Florida's property tax year from the January 1 assessment date through November discounts, April 1 delinquency, tax certificate sales and tax deed applications.
    +50 XP
  3. 3
    Homestead exemption and Save Our Homes
    Who qualifies for Florida's homestead exemption, how the two $25,000 pieces apply to school and non-school taxes, the March 1 filing deadline, the Save Our Homes cap and portability.
    +50 XP
  4. 4
    Other exemptions and special assessments
    Florida's $5,000 exemptions for widows, widowers, blind and disabled persons and disabled veterans, the full exemption for totally disabled veterans, and how special assessments differ from ad valorem taxes.
    +50 XP
  5. 5
    Federal income tax for owners and investors
    Basis, adjusted basis, amount realized and gain; the $250,000/$500,000 home sale exclusion; deductions for mortgage interest and property taxes; depreciation over 27.5 and 39 years; and 1031 like-kind exchanges.
    +50 XP

Practice questions

Check yourself with exam-style questions. Each one explains the answer as soon as you pick.

Practice Unit 18