[jrjr729]

Hello

Have you bothered to run the numbers? If you ca;cu;ate the true value of the homestead exemption you will discover that it is only worth about $389. For the purposes of this calculation I am assuming that you will be itemizing deductions next year and that you are in the 25% tax bracket.

The so-called $50,000 reduction is broken into two parts. the first $25,000 reduces your entire tax by the total Sumter County millage rate. But the second $25,000 tax break is limited to non-school taxes. In Sumter County school taxes make up slightly more than half of the tax rate. In addition, reducing those taxes wil also reduce your real estate tax deduction on your federal forms from what it could have been. (That is not a reason to not do it but it does mean that your effective saving will be less.)

Now, how much is it going to cost you to register your car in Florida and pay for Florida car insurance? I don't know. But if it's more than $389, I wouldn't do it. Given the hassle involved it probably isn't worth it at all.

You can read all about this and other things in my as yet uncompleted work called The Newcomers Guide to The Villages. No really, I am stuck in Delaware with a broken ankle and began writing this for something to do. It is now about eighty pages long and will probably top out at over one hundred. If you would like a copy, I'll e-mail one to you. the price is right. What you pay is your decision. It could therefore be free.