Quote:
Originally Posted by charlie1
You are right, the millage rate is not capped but the assess value of property for Florida residents with homestead exemption is capped at, I believe, 3% per year. The assess value is used to calculate your property taxes. This last year, my market value went up almost $150,000 thousand but my assessment only raise by 3%. Had this cap not been in place, My taxes would have gone up substantially this year but, instead, the total amount due went down!
As far as the study, there was NO study done that justified the increase that was passed. That's why it could not be implemented.
|
Thank you for the Save Our Homes discussion. You can find a little more information on the thread about property taxes going up. In particular, if the homestead exemption does not apply then residential assessments are capped at the lesser of 10% or the CPI.
But as you point out, the rate is not capped.
You should find that the increase in impact fees proposed by the previous commissioners matches very closely the rates in this Sumter County Roadway Impact Fee Study.
The increase could not be implemented for a well-known reason that had nothing to do with it being tied to a study.
__________________
Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
|