Buying Florida
Didier Malagies is a leader in the Tampa Bay Mortgage industry, serving Pinellas, Pasco, Hillsborough counties, and beyond with his sights set on educating residential and commercial buyers regarding Florida purchases. With over 20 years of expertise, Didier has built relationships with realtors, bankers, and clients based on integrity and his drive to provide the best customer experience in the state by being there from beginning to end of every purchase.
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Buying Florida
Closing in January when the property taxes are super low
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When someone has lived in a home for many years, their property taxes are often artificially low because of long-standing exemptions and assessment caps (like Florida’s Save Our Homes).
If you close in January of the following year, here’s what happens:
What you get at closing
Property taxes are paid in arrears
At a January closing, the tax proration is based on the prior year’s tax bill
That bill still reflects:
The long-term owner’s capped assessment
Their homestead exemption
As the buyer, you effectively benefit from those lower taxes for that entire year
Why the increase doesn’t hit right away
The county does not immediately reassess at closing
The new assessed value is set as of January 1 of the year after the sale
The higher tax bill is issued the following year
Timeline example
January 2026 – You close on the home
All of 2026 – Taxes are based on the prior owner’s low, capped value
November 2026 – You receive the first tax bill, still using the old assessment
January 2027 – Reassessment takes effect at the higher value
November 2027 – You receive the higher tax bill
Key takeaway
You enjoy the lower taxes for the full year after closing
The adjustment does not occur until the second year
This is why January closings after a long-term owner can look very attractive up front—but the increase is delayed, not eliminated
Why this matters
Many buyers think the taxes shown at closing are permanent. In reality, they’re just on a one-year lag due to how property tax assessments work.
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