- Florida’s general sales tax is 6 percent
- New mobile home sales have a 3 percent sales tax
- Home and condo sales are not completely tax-free
- Buyers face certain taxes in real estate deals, but not sales taxes
- Sellers are responsible for federal capital gains taxes
- No Florida state capital gains tax exists
- Property taxes are owed annually to the county
- Palm Beach County offers Homestead Exemptions
- A standard 25000 exemption is available for qualified residential property
- An additional exemption up to 25000 may apply
- Homestead Exemption is for permanent Florida residents only
- Property must be owned and be a permanent residence on January 1st to qualify
- A transfer tax is paid by the seller
- No application for sales tax in Florida is needed
- Local option transient rental taxes can be imposed on short-term rentals
Source: langrealty.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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