Sumter Tax Increase
After reading the threads on Sumter Tax Increase, I looked at mine and determined an Ad Valorem increase of $ 768.80 on a current valuation of $311,750 (Designer Home).
An increase of 25.94%.
I called Sumter and determined the following:
All similar house types (Designer, CV, Premier, etc) in an area are assessed the same (nominal) increase in Market Value, BUT:
The increase in Assessed Value is capped at;
3% for Florida Residents
10% for non-Residents
And for non-Residents, the School Tax assessment is at full Market Value.
Hope that helps.
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