PCB, Baby!!!

My family and l love a great vacation. Many people here in the South love Panama City Beach. Did a little research for you guys to find out tax information, home insurance rates, cost of living and other miscellaneous things for those looking for a vacation or summer hope.

I do not have any advice on how to keep your teenage children in line down there ;)



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Panama City Beach is a magnificent all year long family vacation destination, and is a foremost spring break locale for college young people. The following are a number of significant tax strategies for those transferring to this area.

There is no state income tax in Florida, and the sales tax is 6%. Gasoline tax is $0.126 per gallon.
One dollar per thousand dollars of value is the rate at which taxable assets are assessed.
The Florida estate tax is the state death tax credit allowable on the Federal income tax return.

The property tax is assessed at $10.06 per thousand dollars of worth in Panama City Beach
Median house prices have dropped in value more than thirteen percent. Seventeen years is the medium house age. The 1980's saw an expansion of house development that makes up close to forty percent of the existing residences. The house vacancy rate is around sixty percent, whereas residences that are owned represent twenty-nine percent.

You can find lots of high rise condo dwellings the length of Front Beach Road. Some with beach access, some face the boulevard.

Because most real estate is near water, flood insurance is requisite.

The following property tax exemptions are permitted under Florida law:

$50,000 homestead exemption.
$50,000 additional homestead exclusion if older than 65 and meet eligibility parameters.
$500 for widow or widower, disabled, or blind.
$5,000 disabled veterans.

Total permanent disability is exempt from property tax.

Home owners may transfer their save our homes benefit to a new homestead within 2 years of sale, either if upsizing or downsizing.

There will be a new substantial property tax exception of $25,000.

The principal employer in nearby Panama City is the public school system, followed by health care, with two sizeable hospitals.

In May of 2010, the newly built Northwest Florida Beaches International Airport is slated to commence operation. This is America's first new airport since 9/11. It will take the place of the existing airport close to downtown Panama City, which was constructed in 1934. In the beginning, Southwest Airlines will offer service to four cities.