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SB 708

Disclosure of Estimated Ad Valorem Taxes

2025 Regular Session Introduced by Nick DiCeglie

Florida bill requiring real estate sellers to disclose estimated property taxes to buyers died in committee without advancing transparency in home purchase transactions.

Died in Community Affairs
#realandpersonalproperty
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Bill Summary · SB 708

Legislative bill overview

SB 708 would require real estate sellers in Florida to disclose estimated ad valorem (property) taxes to potential buyers before or during the sale process. The bill aims to increase transparency in real estate transactions by ensuring buyers have clear information about their future tax obligations.

Why is this important

Property taxes represent a significant ongoing cost of homeownership, often second only to mortgage payments. Many buyers, particularly first-time homeowners and those relocating, may not fully understand their tax liability, leading to budget surprises after purchase. Enhanced disclosure could help buyers make more informed financial decisions and reduce post-sale disputes.

Potential points of contention

  • Real estate industry concerns: Realtors and sellers may view additional disclosure requirements as burdensome paperwork that complicates transactions or creates liability if estimates prove inaccurate
  • Tax assessment accuracy: Ad valorem taxes fluctuate based on property reassessment and millage rates; providing estimates could be difficult and potentially misleading if values change between disclosure and closing
  • Implementation costs: Determining who bears responsibility for obtaining accurate estimates and what happens if estimates differ significantly from actual taxes owed may create confusion

Compiled from official sources — confirm details with the bill’s official record.

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