Tampa Bay and the surrounding counties including Hillsborough County, Pasco County and Pinellas County are enjoying a red hot real estate market. See the Tampa Bay home values keep rising! So, much in fact, that the total value of taxable property expected to rise significantly this year. Still, don’t worry too much about property taxes. Though that will mean quick extra funds for the local governments in higher taxes, most property owners won’t pay for long. An increase in the homestead exemption goes before voters in a referendum on the November ballot.
These property value increases are the largest seen in the area since before the 2007 real estate market crash. So, between the increased home values and the referendum on the ballot, this is good news for everyone!
Hillsborough County Property Appraiser Bob Henriquez says the region is experiencing a “steady and healthy real estate market.”
Plus, the short-term boost in revenue will go towards increases affordable housing and more benefits to residents.
Plus, with the Save Our Homes cap on assessments for homeowners, the taxable values can’t increase by more than 3 percent a year or by the change in the Consumer Price Index, whichever is lower. So, unlike the 2005 increases of 15 and 20 percent, any financial burden on homeowners would be much slower than the actual growth of home values!
THINKING OF SELLING YOUR TAMPA BAY AREA HOME?
If you’re interested in selling a Tampa Bay area home, please contact us for more information about listing your home. Check out our helpful article describing the process and how to decide if it’s the right time to sell.
ARE YOU BUYING A HOME FOR SALE IN TAMPA BAY?
If you’re thinking about buying a home in Tampa Bay, do a quick online search or check out our:
- Tampa Bay homes for sale under $100,000
- Tampa Bay homes for sale between $100,000 and $200,000
- Tampa Bay homes for sale between $200,000 and $300,000
- Tampa Bay homes for sale between $300,000 and $400,000
- Tampa Bay homes for sale between $400,000 and $500,000
- Tampa Bay homes for sale between $500,000 and $600,000
- Tampa Bay homes for sale between $600,000 and $700,000
- Tampa Bay homes for sale between $700,000 and $800,000
- Tampa Bay homes for sale between $800,000 and $900,000
Our experienced agents know the area and would love to find you the perfect home in the Tampa Bay or any of the surrounding areas. When you’re ready, call us at 813-961-6000, or contact us online. We handle real estate in Hillsborough County (the Tampa – St. Petersburg – Clearwater metropolitan area), real estate in Pasco County (Port Richey, New Port Richey, Dade City, Zephyrhills and San Antonio), and real estate in Pinellas County (Tampa – St. Petersburg metropolitan area.) We’ll help you find the right home for your needs!