Talk of The Villages Florida - View Single Post - Is BOND included in Sumter county tax bill?
Thread: Is BOND included in Sumter county tax bill?
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Old 07-28-2020, 05:38 AM
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Originally Posted by retiredguy123 View Post
The non-ad valorem part is for the bond payments, fire rescue fee, and maintenance fee. Ad valorem means "based on value" which means that it is calculated based on the value of your house, whereas the non-ad valorem part is not based on the value of your house. The main reason to separate the two is that, typically, the ad valorem charges are considered taxes by the IRS and are tax deductible, but the non-ad valorem part are fees, which are not tax deductible.
Great thanks, I was trying to prepare budget for what to expect when we buy. Wanted to make sure bond was included In property tax bill and wasn’t looking at additional bill for that.