[BogeyBoy]

Originally Posted by Peazoup

If your Florida home is your permanent residence, then you are entitled to a $50,000 Homestead property tax exemption. Property taxes are based on the purchase price of the home. For example, if your home purchase price is $200,000, then you will be taxed on $150,000 (divided by 1,000 times mill rate = yearly tax). You do have to apply in person at the County Property Tax Appraiser's Office between Jan 1 and March 1 of the year for which the exemption is sought. You must show a Florida driver's license and have registered your car in Florida. Renewal is automatic each year unless you have made a change.
The Villages is in 3 counties and each county has its own mill rate. I believe Sumter is the lowest, followed by Lake then Marion counties.
Ask you realtor if he/she quoted taxes based on Homestead.
Hope this helps.

Taxes are not based on the purchase price of the home, they are based on the county appraiser's assessed value and total taxable value of the home. This varies and changes if you make additions to your home or if property values change. For example, a home I bought in TV years ago for $270,800 has a taxable value of $210,211 for tax year 2009. In 2008 the taxable value was $213,719. Another home I bought here for $188,800 was given a taxable value of $160,982 the first year I got a tax bill. (This was after I added to the house and the tax appraiser came to the house and added value for the changes.)