The 80% Law
I understand that in order to qualify as an "over 55" development, at least 80% of the homes must be owned or occupied by people over 55 years old.
What benefit is this to the developer of a community? Do they pay a different tax rate if they are an over 55 community?
And how, with all of the resales in The Villages, is it possible to keep track of this information?
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