Quote:
Originally Posted by sbl
I only wish I could afford it! Pine Island Key is surrounded by great fishing year around! I have a friend that lives down there and have visited him several times. Nice place to live!
Jack, taxes in Florida come mostly from property tax and sales tax (no state income tax) and like the add said, the property has an exemption from property tax because of the agricultural status.
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The property is not exempt from property taxes. The portion that houses their "principal residence" is entitled to a $50,000 homestead exemption and the agricultural part "may" qualify for reduced property taxes with a greenbelt exemption.
http://www.floridafarmbureau.org/fil...eenbeltQ_A.pdf