Quote:
Originally Posted by ElDiabloJoe
Realistically, how much is the $50,000 homestead exemption actually worth? Say you're in a $350,000 property. What would (approximately, of course) the annual property tax on homesteaded vs non-homesteaded property?
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The homestead exemptions lowers the assessed valuation by $50K. The tax rate in Sumter county is around $3/1000. So the exemption should save about $150/year regardless of the value of your home.
I am sure others with more knowledge than me can refine this estimate.
edit...somebody with more knowledge than me already gave you a better answer.