Tamra Ransom thought she was one step closer to her American Dream when she purchased her home in Polk county, Florida in May 2023. But less than a year later, she had already listed her property — which she pumped all her savings into — for sale.
What caused that sad and sudden u-turn?
A property tax hike of 174%, which — when combined with other rising costs of homeownership, specifically soaring home insurance costs in the Sunshine State — means she cannot afford to keep her new home.
“I felt like I’d been baited and switched,” she told WFLA-TV, implying that she bought the property without expecting the future costs of maintaining the property to be so different from what it was.
Here’s how Ransom’s annual property assessment caught her out — and what you should consider when your property is valued for tax purposes for the first time.
https://finance.yahoo.com/news/felt-d-baited-switched-florida-104200397.html
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