Real Estate Market in Wesley Chapel and Tampa Bay Florida

Expect to pay about 9.3 percent more in taxes this year, says Florida TaxWatch. That's the largest annual tax rise in almost 10 years despite four years of federal tax cuts and a drop in the total level of federal taxes paid by Floridians. Blame it on the booming real estate market. According to Florida TaxWatch, the increase results from property taxes, as well as rising incomes and the increased personal spending that follows. "Rising property values and new construction are creating a tax-collection boom for local governments in Florida," says TaxWatch senior research analyst Kurt Wenner, adding that local governments will collect about $2 billion more this year in property taxes.

Source: Planet Realtor, FLORIDA ASSOCIATION OF REALTORS

Visit: http://www.ajmasters.com/