The Real Deal Miami

Tax trap for buyers

July 01, 2009 11:28AM

South Florida homebuyers are learning that the bargains they’ve bought — foreclosed homes at 25 percent of their last sale price, for instance — still carry hefty price tags when taxes are levied. Not only do tax rates remain at previous assessment levels, but some cities, including Miami, are pondering property tax hikes to handle budget problems. Experts say the state’s property tax system may hinder its path to economic recovery.