Quote:
Originally Posted by RayB
It is amazing what property tax savings there is for being a full time Florida resident. I paid my property tax two months ago and the property tax alone was $872.66 if paid before Dec 3. This is for a Courtyard Villa in Bonita which I purchased in early 2006 for $244,000. This low rate is because of the Florida Homestead Exemption for Fl residents and because of the added tax reduction on homesteads passed last year. I must underscore that this tax is property tax only. If I add the Village district tax, Bonita Spec maint, Bonita bond payment and villages fire district tax the total was $2181.37. Sumter county now has one of the lowest tax rates in the state of Florida. When I lived in Tampa my property tax was $2800 per year. Another great advantage of living in The Villages.
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Why would anyone NOT transfer thier residency to Florida when the move to the villages - regardless of if they have a home up north?
Man, in Wisconsin, I pay $6100 on a $300,000 house and 7% state income tax on top of that. When I buy a place in the villages, I plan on keeping a place in Wis (probably sell the house and get a condo), but I will instantly become a Florida resident just to escape the state taxes in Wis.