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Form 8883 online Orange Florida: What You Should Know
The property includes: • 5 acres of wooded land. • 11-12,500 gross square feet of interior space. • 4,850 square feet of outdoor space. • 3 bedrooms. • 2 bathrooms. • 12-16 car garage. • 2 additional parking spaces. • Gas, electric, water, sewer, garbage, and trash service (sales tax is collected on utility bills, including electricity, water and gas). The property also contains: • 12,500 gross square feet with a landscaped front yard. Property Type: Residential — Year Built: 1991 – 2011, Estimated Market Value: 937,000 – 1,050,000. Property Type: Residential Single Family Residence Area Plan: 1-Unit Residential Unit: 1 Bedroom, 1 Bathroom, Two-Dwelling Unit: 3 Bedroom, 1 Bathroom, 3 Bdrm Single Family Residence Area Plan Single Family Residence Unit: 1 Bedroom, 1 Bathroom, 2-Dwelling Unit: 3 Bedroom, 1 Bathroom, Three Bdrm Estimated Value of Property: 937,000. Estimated Tax: 3,076 (9,100% State Tax and 2,800% Federal Tax). Estimated Gross Rent: 2,880 2,280 (9,100% State Tax and 2,800% Federal Tax). Estimated Utility Costs: 420 • Total Property Value = 2,913,500 (737,000+880+5,180=2,913,500) • Total Gross Rent = 3,076 (9,100% State Tax + 2,800% Federal tax + 8,080% Local Tax=1,906,000.00) Estimated Total Property Taxes: 10,078 (20,000% State Tax + 40% Federal Tax — 10:1=10,078) Estimated Net Rent Income: 2,814 (8,080% State Tax + 6,800% Federal Tax)=1,906,000.00) Estimated Income of Applicant: 65,000.00 Tax Benefits: 979.00 • Applicant: Mark E.
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