Application Fee & Security Deposit
Along with an application to purchase or rent a condo unit, the association requires payment of an application fee of $100 along with the application to cover processing and background checks.
For rental units the association additionally requires payment of security deposit of $1,000 to cover any damage to association common-area property and facilities caused by the tenant. Upon termination of the lease, this deposit will be refunded to the payer less any deductions for damages. This is in addition to and separate from any security deposit required by the owner of the unit.
The quarterly maintenance fees for the units vary from building to building according to the size of the unit. The fees currently range between $1,000 and $1,800 per quarter. Each building has its own budget.
The maintenance fee includes the following items:
Homestead Tax Exemption
Any person who has legal or equitable title to real property in Florida and who resides on that property as his or her permanent legal residence is eligible for up to $50,000 homestead tax exemption from the city, county and school board assessed values. Homeowners are not required to live on the property year-round, but it must be their principal residence. If title to the property is in the name on one spouse alone, the other spouse may legally file for this exemption with the consent of the spouse who owns title to the property.
To obtain the homestead tax exemption, first-time applicants must apply in person at the county property appraiser's office with proof of home ownership on or before March 1 of the first year in which they claim the exemption. Application must be made on or before March 1, and the applicant must have owned the home as his or her principal residence on or before January 1. The property tax exemption for a homestead is deducted from the assessed value of the property before property taxes are calculated.
Taxable Value = Assessed Value — Homestead exemption
The property taxes at Ocean Parks range between approximately $1,500 and $4,000 per year.
Please visit the Florida Department of Revenue for more thorough information about property tax exemption.