Quote:
Originally Posted by retiredguy123
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.
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Is this due to homesteading or is there a flaw in the assessment system? I live in Lake County and my full value assessment seems to be in line with market value however my homestead value based upon homesteading in 2010 is substantially lower than the published market value.