By: Daniel Weiss
What's the highest interest rate you can earn now in a safe, government-sponsored program?
Did you say 4% per year? Wrong!
In Florida, for the next 4 months, every real property and tangible personal property taxpayer can earn an effective interest rate of 1% PER MONTH by paying taxes during the discount period!
Here's how simple it is: just pay your property taxes before March 1. Here's the way it works.
Taxes paid--i.e., received by the Tax Collector--during
November are subject to a 4% discount;
December are subject to a 3% discount;
January are subject to a 2% discount;
February are subject to a 1% discount.
Taxes paid after March 31 are delinquent and are subject to penalties and 1 1/2% delinquent interest per month.
In the same way that paying down your credit cards is the equivalent of earning interest at the same rate of interest that the credit card company is charging the customer on the outstanding balance, taking advantage of the 1% per month early payment discount on Florida property taxes is the same as earning interest at the rate of 12% per year on the amount of taxes you pay.
Don't say we didn't tell you!
About the author:
For a free consultation regarding your property, contact us at:
http://www.tannebaumweiss.com/property_tax.php
Circulated by Article Emporium
Other Interesting Topics
Here is a look at real-estate news in today's WSJ:
TORONTO, ONTARIO--(Marketwire - July 29, 2010) - RioCan Real Estate Investment Trust ("RioCan" or the "Trust") (TSX:REI.UN) today announced its financial results for the three and six months ended June 30, 2010.
Banker bitten by bad real estate bets
There is a growing demand for real estate locally which is expected to sustain the property industry, with developers catering to all socio-economic classes of home buyers. These developers, together with corporate executives and diplomats from the international community, have agreed to speak and share their knowhow in real estate infrastructure development at the Philippine Real Estate ...
Apartment Rental Service (STN) (show on map) Working in the hospitality industry since 1999 and being engaged in the acquisition, holding and management of hotels and real estate properties, the STN company has built up an impressive record of success by bringing together three essential elements: a commitment to guest comfort and satisfaction, a staff of dedicated professionals, and an ...
