The assessed value is a function of fair market value, regardless of how development is financed. Then, after the county assessor determines the total value county wide, the cost of government is apportioned.
When I vote on tax rates, we apportion for debt and M&O separately. If you look at the property tax invoices in the three counties you will see a number of separate apportionments. Everything from schools, stormwater, trash, city operations, county operations, etc…
So, what one pays the county in Florida for a single family home is 85% of fair market value, less exemptions, times the total of the millage rates. Any bond balance tied to a parcel has no impact. The fair market value of a home in The Villages doesn’t appear to be influenced by bond balance. Home sales prices seem far more influenced by location, size, condition and decorating.
It appears that local counties are slow to reappraise home values, unlike other states I’ve worked in. Thus, when you look at what home sellers pay for their property taxes varies widely. That is why you should avoid looking at what people pay and instead focus on what you pay for the home, as that will establish a new fair market value. People who have been in their home for many years will benefit from the slow county assessor revaluation.
Last edited by RL Lemke; 01-25-2025 at 01:27 PM.
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