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Jonathan is a blind widower whose home is valued at $110,000. He is homesteaded and under 65. His School taxes are 10.23 mils, his county taxes 6.789 mils, and his city taxes are 8.78 mils. What are his annual taxes?

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jepessoa

Answer:

Jonathan's taxes depend on which state he lives in. Generally, widowers (male spouses who lost their wife while still married) are eligible for a homestead exemption, but the amount varies depending on the state.

For example, if Jonathan lives in Florida, the homestead exemption is up to the first $50,000, but in Texas it only includes the first $25,000.

Assuming that Jonathan lives in Florida, he can use his homestead exemption to reduce both his city and county taxes by $50,000:

  • city taxes = [($110,000 - $50,000) / $1,000] x 8.78 = $526.80
  • county taxes = [($110,000 - $50,000) / $1,000] x 6.789 = $407.34

the homestead exemption is reduced by half for school taxes:

  • school taxes = [($110,000 - $25,000) / $1,000] x 10.23 = $869.55

total real estate taxes = $1,803.69

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