Talk of The Villages Florida - View Single Post - Sale of home
Thread: Sale of home
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Old 11-17-2019, 10:35 AM
papasetti82 papasetti82 is offline
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Default Tax

Quote:
Originally Posted by JimJohnson View Post
Let me say it in a way that everyone can’t get it.

My current annual tax bill is $2700.
My current home market value is $400,000.00.

To buy a new home with market value of $300,000.00 within the Wildwood City Tax zone, the annual tax would be $4800.
So, if I bought a home valued 100K less than my current home, my tax bill would still go up $2100.

Let me add a suggestion. Before making up your own mind, look at your last tax bill, then ask an agent what the annual tax would be for that home in wildwood city tax zone. In my case if I just replaced my home in that zone, I would go from $2700 to $6400. A fair share of that increase is because my tax’s are based on my being in Sumter county for ten years.
Do you know about Portability ?