Here is a breakdown on your FishHawk Ranch Property Taxes and exemptions. Taxes on all FishHawk real estate, tangible personal property and other non-ad valorem assessments are billed, collected and distributed by the Hillsborough County Tax Collector. Taxes are levied in Hillsborough County by the taxing authorities. The Property Appraiser establishes the taxable value of real estate and tangible personal property.
FishHawk Ranch property taxes are assessed as of January 1 of each year and are normally due and payable on November 1 of that year. Taxes are considered delinquent if not paid before April 1st of the following year.
The county does have a discount schedule for early payment it is as follows:
- 4% discount if paid in November
- 3% discount if paid in December
- 2% discount if paid in January
- 1% discount if paid in February
- There is no discount for payments made in March
- Tax become delinquent on April 1st.
How are FishHawk Ranch Property Taxes Determined
Property taxes are determined by three main factors. These are the County Assessed Value of your home, the Millage Rate and your Homestead Exemption.
County Assessed Value
This is the value of your property after any “assessment reductions” have been applied. The county assessed value is different than the appraised value of your FishHawk home or market value of the home. In a non-scientific and non-official view it looks like the assessed value of the home in most cases is going to be around 80% of the true market value of the home. Don’t hold me to the 80% figure but just keep it in mind.
Once the county has an assessed value for your home and if you disagree with that value, you should contact the Hillsborough County Property Appraiser’s Office and have them start an Appeal Process for you.
Taxes are levied in Hillsborough County by the taxing authorities empowered to do so by the State Legislature. The taxable valuation of each real estate property or tangible personal property is established by the Hillsborough County Property Appraiser. The Board of County Commissioners sets the millage, or rate of taxation, for the county; the School Board for the schools; the City Council for each municipality; and by the governing bodies of other independent special taxing districts and authorities.
So what is a Millage Rate? It is the rate of taxes placed on a property based on a “mill” (1/10 of a cent), or one dollar per one thousand dollars of taxable value. Okay still big words, let’s try to simplify it a little bit with a real life example.
A recent home just sold in FishHawk Ranch for $240,000. The current millage rate in FishHawk Ranch and most of Hillsborough County is 19.5957. Without any homestead exemptions the home was assessed at $200,000 and the property taxes will be $3919 per year. Keep in mind that these are just the property taxes. They do not include the FishHawk Ranch CDD or FishHawk Ranch HOA fees.
If you are looking to buy a home and trying to get a quick, rough property tax estimate in your head use 2% of the purchase price of the home. If interested, the county does have a nice tax estimator on their website.
Florida law allows up to $50,000 to be deducted from the assessed value of a primary and permanent residence. The first $25,000 of value is entirely exempt. The second $25,000 exemption applies to the value between $50,000 – $75,000 and does not include a benefit on the school tax.
With the homestead exemption on the example above, a FishHawk home assessed at $200,000 would be taxed on $150,000 (minus school taxes). The rough annual taxes would be around $2939 or a saving of almost $1000 per year!
- $500 Widow/Widower
- $500 Personal Disability
- $500 Blind
- Total and Permanent Disability
- $5000 Veteran Disability
- Service Connected Total and Permanent
- Surviving Spouse of Military Veteran or First Responder
- Veterans with Combat Related Disability
- Deployed Military Active Duty
- Senior Citizens of 65 Low Income
Please see the Hillsborough County Property Appraiser Homestead Exemption webpage for additional details.
What Are The Requirements?
- The FishHawk Ranch property owner must have legal title by January 1st of the year they are applying.
- The filing deadline is March 1. If that date falls on a weekend or legal holiday, the deadline would extend to the next business day.
- The property owner must establish Hillsborough County as their legal domicile, live in the subject property and be a US citizen or Permanent Resident.
- The property owner must show proof of Florida residency (i.e. Driver license) A “Valid in Florida” designation on your Florida driver license is not acceptable. A Florida Identification Card with an out of state driver license is not acceptable.
- If you are active duty military, you may qualify by providing us proof of Florida residency such as Florida driver license or LES (Leave and Earnings Statement)
- Proof of Citizenship (i.e. voter registration or permanent resident card)
- The property owner should provide the address of the property, tax bill or deed/title.
- Social Security numbers will be needed for any owner who resides on the property.
- If the property is a mobile home, you will need your title or registration to the mobile home and the deed to the property. The mobile home or manufactured home will need to be declared Real Property.
- If the property is held by a Trust, the beneficiary of the trust with the right to occupy the home may also be entitled to homestead exemption.
When to Apply for Homestead Exemption
You’ve just purchased a beautiful new home in FishHawk Ranch and would like to file for your homestead exemption, when should you file? File now, don’t wait! While applications are taken all year, the statutory filing deadline is March 1. Late-filed applications are taken up to the 25th day after the mailing of the yearly Notice of Proposed Property Taxes (TRIM). The TRIM notices are typically mailed in August. After that period expires, all applications received will begin the homestead exemption the following year. It is best to file immediately so you don’t forget and miss any deadlines.
Where to Apply for Homestead Exemption
16th Floor, County Center
601 E. Kennedy Blvd.
Tampa, FL 33602
Brandon Branch Office
Bay Plaza 1, Building 9225, Ware Blvd, South of Highway 60
Tampa, FL 33619
Northwest Branch Office
Westgate Plaza Shopping Center
12086 Anderson Rd., Ste 105
Tampa, FL 33625
Plant City Branch Office
302 N Michigan Ave.
Plant City, FL 33566
South County Branch Office
Sun Point Shopping Center, Ste 2B
3018 S.R 674
Ruskin, FL 33570
For your convenience here is a copy of the Hillsborough County Homestead Exemption Application.
Save Our Homes
One of the great FishHawk Ranch property tax and specifically Florida property tax features is Save Our Homes. After receiving your initial homestead exemption any annual increase in the assessed value of your property is capped at the lower of 3% or the percentage increase in the Consumer Price Index (CPI), with certain exceptions. Please see the Hillsborough County Property Appraiser Save Our Homes webpage for more information.
You’ve owned your home in FishHawk Ranch for a while now and want to either buy a larger house or a smaller home but are worried about losing your great homestead exemption. Don’t worry, when you move and apply for a new homestead exemption you will be eligible to ‘port’ all or a portion of the capped value. To see how this works, the Hillsborough County Homestead Portability FAQs does a really good job explaining and answering portability questions.
I hope this help you get a better understanding on how FishHawk Ranch property taxes affect your FishHawk Real real estate. If you have any questions or would like further clarification of any property tax items, feel free email me at Jeff@FishHawkRanchRealEstate.net. I will be glad to answer those for you.