Taxes and Insurance

For taxes, there's a property tax estimator on the Walton County appraiser's site -
http://qpublic.net/walton/

For Okaloosa -
http://www.qpublic.net/okaloosa/

If you know the actual property or area you're interested in you can drill down to it in their mapping feature and find out what owners paid in 2007. I think it's safe to guess it'll be lower next year.

Insurance is tough, it varies widely based on distance to the gulf / bay, elevation, and flood zone. You really need to find a specific property and contact your agent to get a real quote. It also depends on whether your planning on renting or living in the house.

I was wondering if anyone could tell me approximately how much taxes and insurance in the Destin area are per month. I will be looking to buy a single family home at the end of this year in the $250,000 range in the Destin area north of 98 and I am trying to get a realistic total monthly payment.

Thanks in advance....

Are you homesteading? Makes a big difference.

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Yes. Be sure to check what county you are buying in. Destin is an incorporated city in Okaloosa County. You'll need to check out city taxes, too. The South Walton area in Walton County has no incorporated cities. It is a mix of historical and eclectic communities and resorts. Some are listed on this SoWal home page. For example, Sandestin and Miramar Beach are in Walton County. Don't be confused when misinformed persons stick a Destin address on their property in those two communities. Good luck.

Destin annual property taxes for a homesteaded property will be a little over 1% of the purchase price. Insurance will vary depending on the FEMA flood zone designation.

Destin annual property taxes for a homesteaded property will be a little over 1% of the purchase price. Insurance will vary depending on the FEMA flood zone designation.

And wind pool, for wind insurance. We are not in a flood zone, but are in the wind pool, so we get off easy on flood and pay out the rear for wind. THEN, add on the regular homeowners coverage.:shock:

Are you kidding me? The non paying Insurance Company's are the one's who started this whole mess. I hold Insurance salesman up there with phone solicitors, collection people and dirtbag attorneys. I have never met an insurance person I liked with the exception of Grant Blackwell and My Friend Betty out of St. Pete.

Are you kidding me? The non paying Insurance Company's are the one's who started this whole mess. I hold Insurance salesman up there with phone solicitors, collection people and dirtbag attorneys. I have never met an insurance person I liked with the exception of Grant Blackwell and My Friend Betty out of St. Pete.

Careful. I am a former agent and this was my family's business. Thankfully I only sold life, disability, LTC, and health- no P&C, which wasn't my cup of tea.


My dear - you are on a roll today. Find a yoga class and breathe!

So was my Dad them he saw the light when I told him I would bury him face down. Breath in breath out. I am one with my oneness aaaaaaaaaaaaaaaaaaaaa ( insert chant music here)

And wind pool, for wind insurance. We are not in a flood zone, but are in the wind pool, so we get off easy on flood and pay out the rear for wind. THEN, add on the regular homeowners coverage.:shock:

My agent has never suggested I need wind, just homeowners and flood. Is wind something specific to condos maybe?

My agent has never suggested I need wind, just homeowners and flood. Is wind something specific to condos maybe?

As long as there are hurricanes and tornadoes...you'll need/want wind--your lender will insist on it.


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My agent has never suggested I need wind, just homeowners and flood. Is wind something specific to condos maybe?

A few things we learned about buying a house AND insurance in Florida:

If you have a mortgage, the lender will require proof for wind, flood, and homeowners. The wind insurance may be a separate policy depending on where your home is located.

A good Realtor will clue you in on the necessity of checking on insurance rates (or even getting insurance, depending on the property) before you sign the contract. If you have buckets of money, this may not be a problem for you, but we escrow our insurance and taxes and let me tell, you, it is a big chunk of our monthly house payment. If you think you can afford the monthly payment on a house, and also plan to escrow insurance and taxes, get some quotes before you sign that contract. (thanks for giving us contact info Murray!) Finding out insurance costs was the deciding factor on what house we bought.

Beware an RE agent that shrugs off the insurance discussion- they should give you a few insurance contacts from the get go, and it should be part of your buying process. If they think that your insurance concerns are unnecessary or unimportant, find a more knowledgeable, educated RE agent. It may make the difference in getting a great house and affording to insure it, or getting a great house and not being able to afford the insurance.

As long as there are hurricanes and tornadoes...you'll need/want wind--your lender will insist on it.


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Just called my agent, I have wind with my normal homeowners. I'm not in a wind pool apparently. whew!

Uh, yeah, I have wind with my regular homeowner's too. That is weird, because I'd certainly think I'm more wind-prone than the Dargs are.

However, I'm definitely more flood-prone and we are required to carry flood...and after Katrina, I'm in agreement.

Uh, yeah, I have wind with my regular homeowner's too. That is weird, because I'd certainly think I'm more wind-prone than the Dargs are.

However, I'm definitely more flood-prone and we are required to carry flood...and after Katrina, I'm in agreement.

I'm guessing you have been with the same company for a number of years. If your company decides to stop insuring you for wind (like many have), you will have a separate wind policy. i will keep my fingers crossed for you!

I'm guessing you have been with the same company for a number of years. If your company decides to stop insuring you for wind (like many have), you will have a separate wind policy. i will keep my fingers crossed for you!

I'm expecting that to happen too in the next year or so, I've got "The good hands people" on my side!

I am buying lotto tickets so I can just build myself a bunker on high ground and say F U to the insurance companies.

(sans lotto winnings the bank would own part and require me to have insurance)

do I need excess flood insurance??

We're in the Eastern Lake area (between 30A & Eastern Lake Rd)....
have been paying for this EXCESS flood insurance for several years now....
I'd love to hear from others...??? is this something I really need to be buying??
Next year's premium is about $3300 and is due in June....ugh!!!!

THANKS,
PK

We're in the Eastern Lake area (between 30A & Eastern Lake Rd)....
have been paying for this EXCESS flood insurance for several years now....
I'd love to hear from others...??? is this something I really need to be buying??
Next year's premium is about $3300 and is due in June....ugh!!!!

THANKS,
PK

You need to ask the lender who holds the note on your home if they require you to have flood insurance. If you own free and clear, then you can opt to roll the dice.

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We're in the Eastern Lake area (between 30A & Eastern Lake Rd)....
have been paying for this EXCESS flood insurance for several years now....
I'd love to hear from others...??? is this something I really need to be buying??
Next year's premium is about $3300 and is due in June....ugh!!!!

THANKS,
PK

I think if the added flood isn't too high, it's worth it. If something were to happen, not having it gives the Ins. cos every opportunity to mess you over. Look at is as insurance against your insurance company!

Thanks for comments EXCESS FLOOD INS

Thanks to all for the helpful comments in response to my Excess Flood Insurance post!

Got good news today....really GOOD news:funn:....my agent was able to find another source for this and it is $2,000 less!!!!

Huge difference....same coverage, etc....makes me crazy to think I might have paid that other company that ridiculous higher premium!

Even though it's not required for me to have this, I will sleep better!!


THANKS again,
PK

I'm guessing you have been with the same company for a number of years. If your company decides to stop insuring you for wind (like many have), you will have a separate wind policy. i will keep my fingers crossed for you!

Allstate Floridian when we built, and last year they gave us to Royal Palm. So far so good...please cross your toes, too!

We're in the Eastern Lake area (between 30A & Eastern Lake Rd)....
have been paying for this EXCESS flood insurance for several years now....
I'd love to hear from others...??? is this something I really need to be buying??
Next year's premium is about $3300 and is due in June....ugh!!!!

THANKS,
PK

Depends on the cost to rebuild your home and how much you like to gamble. The basic flood covers up to $250k. If your house would cost more than $250k to rebuild and you want total piece of mind, buy the excess coverage. If want to gamble due to higher relative elevation of your property or some other reason for having a higher risk tolerance, forego the excess coverage (or only insure part of the additional value above $250K).

I buy full value excess flood coverage just to make sure I don't sustain a huge loss in the event of a CAT 5 hurricane with a huge storm surge hitting the area (may it never, ever happen!!!).

I always felt I was immune due to elevation and distance from the beach, until Katrina. Having been over there and seen the inland destruction, I signed up for flood. A 40 foot storm surge hitting miramar beach would wipe my little house off the face of the map.