Quote:
Originally Posted by Aces4
I need some clarification, moving to Wildwood into a home half the cost you own now will cause your real estate taxes alone to more than double?
In that case, it would be good for you to approach the Wildwood commissioners for an explanation and get the word out to future purchasers. That fact alone, which you provided, will discourage many buyers from the Wildwood area.
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The Wildwood millage rate is about 3.4, which they claim is the lowest rate in 30 years. On a $300K house, that will add about 1,000 dollars to the overall tax bill. But, I can understand how a new house in Sumter County could have a tax bill twice as much as an older house in Sumter County. Most of the difference is that older houses seem to have lower assessed values than newer houses, even though they may have a similar market value. And, the Wildwood City component also contributes to the higher tax.