Demand is increasing a lot.
Supply in increasing a little.
Driving more developments just outside our bubble. Wildwood is building up fast.
However these higher sales prices should help reduce the tax burden for us that remain in our humble abodes.
I'm in Sumter, so assuming the land baron developer of the villages doesn't succeed with the deceitful plan to impose increased tax burden to existing homeowners for future development (impact fees), shouldn't I assume that my tax bill will go down?
Let's assume the population increases by 3701 people this year....that's just over 2.6%. Then let's assume that costs to run the county go up by 7% this year (LGB affect).
There aren't many children vs population so funding of schools shouldn't increase too much..
So maybe the county costs go up by 8.5%. Maybe less since they are cost cutting (Village annex closed).
Each homeowner burden is based on the assessed value of their home (real value is determined at a sale / assessed value increases are capped / but can be reduced during downturns by the action of the county assessor)
Since 1995 the assess value can increase no more than the CPI or 3% whichever is lower, assuming no major upgrades.
Now...due to the huge cost (value) increases for homes sold recently, the revenue to the county from the new homeowners will be substantially higher.
Seems intuitively obvious that my meager dwelling should bear a lesser burden thanks to the influx of the increased revenue.
https://floridarevenue.com/property/Documents/pt107.pdf
County Millage Rate Information | Sumter County, FL - Official Website
sumter county population increase 2020 to 2021 - Google Search
http://https://www.**************.co...cent-tax-hike/