Quote:
Originally Posted by LuvtheVillages
Ok, yes, six properties benefit from the cap today. As property values rise, how many will benefit from the cap 10 years from today? And why should there be any cap at all? What is the rationale?
And yes, I know we are paying more than $124 today. I would like to see that portion of the funding eliminated entirely, and the cost be fully put onto the millage rate tax, with NO cap. I think that would be more fair.
|
NOTE: I updated my numbers. 17 properties benefit from the cap, not all owned by The Vilages, and over 2000 properties apparently owned by The Villages do NOT benefit from the cap in any way.
You still don't seem to understand. The VPSD today is funded with the $124 plus about 0.71 mils of your millage rate today, with NO cap. And with no limit on the millage rate, that 0.71 today could be much higher next year. I believe the $124 is separated from the ad-valorem so that properties that would otherwise be exempt from ad-valorem due to exemptions will still pay something towards fire protection. Roll the $124 into the ad-valorem and some portion of those fees will no longer be collected.
Those who are against the IFD aren't going to point out that that there are several caps on the IFD funding. Yes, there is the $10M cap that benefits those 17 properties but there is also a cap on the 0.75mils and on the 1mil that benefit all of us. Increasing the 0.75mils is difficult and increasing the 1mil is impossible without another referendum. Compare that with the system in place today where the BoCC controls the millage and just three years ago increased it by 33%.
How many will benefit from the cap 10 years from now? There is no way of knowing. Perhaps only five if the economy has a downturn and assessments drop. Or maybe assessments keep climbing and more benefit. But remember, the $10M cap only applies to the 0.75mil portion, it does not apply to the 0-1mil ad-valorem piece and any increase in value will result in an increase in IFD fees for those properties as well.