How to Estimate Pinellas Property Taxes – Part 3

How do I estimate Pinellas Property Taxes?  Hear it everyday!  First, review Part 1:  The 3 Types of Pinellas Home Values from the Pinellas Property Tax Appraiser.  Next, Review Part 2:  How the Pinellas Property Appraiser Determines Pinellas Home Values.  Then follow us through this post to understand the actual calculations needed to determine how much you’ll be paying. 

Calculations for Determining Your Pinellas Property Taxes

1. Just Value – Save Our Homes Cap = Assessed Value
2. Assessed Value – Exemptions =Taxable Value
3. Taxable Value / 1,000 x Millage Rate = Gross Taxes year

So, let’s pretend Frank is buying a Clearwater home with a $200,000 Just Value.  In Frank’s case, because it’s going to be his first home purchase and his primary residence,  he does not have any Save Our Homes Cap portability (subject for a future post) but he qualifies for the standard $50,000 Homestead Exemption – so we’ve skipped right to #2, which looks like this:  $200,000 – $50,000 = $150,000 Taxable Value.

Next, take Frank’s Taxable Value, $150,000 divided by 1,000 x 20.3578 Millage Rate = $3,053.67 per year.  Voila!

HELP! You’re asking .. where do I find all of this stuff out?  What does some of this mean? 

Pinellas Property Taxes:  Helpful Hints

• You can find the Just Value of a Home on the Pinellas Property Appraiser’s website.
• Each year’s property tax value stands alone, so it’s difficult to estimate taxes before annual property values and millage rates are established.
• You can review the latest millage rates from the Tax Collector’s Website or use 24.0 as a starting rate for estimating. 
• If you qualify for the homestead exeption, you can expect to save $500 to $800 on your taxes the first year.
• If you qualify for Cap Portability (future post!), you’ll save even more. 
• There are other small exemptions for Seniors, Blind Persons, the Disabled, Widow/Widowers, Veterans, Spouses of Disabled Veterans and more.

If this is all just too much for you, contact the Pinellas Property Appraiser’s office at (727)364-3207.  Or better yet, contact us.  These Pinellas Realtors are here to help!