The property taxes aren’t capped. The assessed value of the home can only increase by a maximum of 3% each year if you are homesteaded. The property taxes are essentially the millage rate times the assessed value (minus exemptions). The millage rate can also change each year.
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Originally Posted by edtherock
In Sumter county my understanding is a previous homeowners property taxes are capped a certain amount each year. So if they owned a house for 20 years let’s say their taxes are 3000. Then they sell. The new owners who do NOT own a present property in the villages will pay for example 6000 dollars now. The house is reappraised at present value and the cap is gone. So the cap now resets for the new homeowner at the higher rate. There is a grandfather clause at least for Sumter County property taxes.
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