Quote:
Originally Posted by NJblue
Not necessarily. Unlike other communities, TV is unique in the sense that its residents put virtually no burden on the largest component of taxes - the school system. Hence for every new home purchased in TV the tax base grows, but the cost burden is only modestly increased. The effect of this can be seen in this year's taxes. Even though property values have decreased in Sumter County as a whole, the continued growth of TV and its size relative to that of the entire county has resulted in the tax rate for the whole county to actually go down. This trend should continue as TV continues to grow.
|
Correct me if I am wrong but does not the homestead act protect us tax payers from any major increase yearly? I think the max is 3% a year that our property taxes can increase.