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REDCART
05-26-2012, 05:10 PM
I've seen references in other posts about TV having "Over 55 Community" federal status. What benefits come with this special community status, are there reduced taxes, exemptions from certain local school tax? Which federal agency makes this decision, HUD, IRS? Anyone know more about this subject?

George
rubicon
05-26-2012, 05:28 PM
I've seen references in other posts about TV having "Over 55 Community" federal status. What benefits come with this special community status, are there reduced taxes, exemptions from certain local school tax? Which federal agency makes this decision, HUD, IRS? Anyone know more about this subject?

George

If there is an economic benefit hate to see what my taxes/fees would be otherwise becuase I am not feeling it.
tv2016
05-26-2012, 06:34 PM
The Housing for Older Persons Act of 1995 (HUD link below) allows an exemption for 55+ communities from the Fair Housing Act. If it weren't for this Act, then families with kids, etc., would be able to live in The Villages. Basically, it allows The Villages and other 55+ communities to legally discriminate against families when it comes to houses (families are otherwise protected under "familial status" in the Fair Housing Act).

http://www.hud.gov/offices/fheo/library/hopa_final.pdf
REDCART
05-26-2012, 07:06 PM
The Housing for Older Persons Act of 1995 (HUD link below) allows an exemption for 55+ communities from the Fair Housing Act. If it weren't for this Act, then families with kids, etc., would be able to live in The Villages. Basically, it allows The Villages and other 55+ communities to legally discriminate against families when it comes to houses (families are otherwise protected under "familial status" in the Fair Housing Act).

http://www.hud.gov/offices/fheo/library/hopa_final.pdf

Thank you. An oversimplification I'm sure, but it simply allows us to exclude families with young children and not be sued. Otherwise, there's no real tax savings, unless you consider the increase in property taxes associated with an influx of young people, and their educational needs. Makes sense.