Real Estate Taxes gone way up

[mrf6969]

Got my annual TRIM notice in mail yesterday. My taxes on my home have shot up 22% over last year. Sumter county. Wondering what is going on? Anyone else have same experience?

[champion6]

Opposite experience... My 2-yr old house in Tamarind Grove went down 2.6%

[kittygilchrist]

what's TRIM?

[OldManTime]

Got my annual TRIM notice in mail yesterday. My taxes on my home have shot up 22% over last year. Sumter county. Wondering what is going on? Anyone else have same experience?



Not mine in Lake county, mine went up $15.00, not a big deal,but my market value is up by 10%, and thats great. Where else can you get "Fire and Medical" assessment for $90.11...whata country !

[zcaveman]

what's TRIM?

Everyone gets one. It is a list of your last year's taxes and what the new taxes will be this year if they pass all of the recommendations. TRIM stands for Truth in Millage.

I got mine yesterday. Yours might be in the mail.

If you are new I do not know if you will get a past/present but you might just get the present recommendations.

Z

[mrf6969]

Not mine in Lake county, mine went up $15.00, not a big deal,but my market value is up by 10%, and thats great. Where else can you get "Fire and Medical" assessment for $90.11...whata country !

Well fire and med in sumter is just $81.00 and that is great. It is the real estate taxes that took the big jump. $1887 up to $2334.

[zcaveman]

Remember that if you pay your taxes in November you get a 4% discount (at least I think it is 4%).

Z

[Indydealmaker]

Hmm...I thought the Sumter tax rate went down again.

[Number 6]

About the same as last year. Sumter County.

[janmcn]

Got my annual TRIM notice in mail yesterday. My taxes on my home have shot up 22% over last year. Sumter county. Wondering what is going on? Anyone else have same experience?


The first year's taxes on a new house only cover the land. The second year's taxes cover the house and land. Could this be the case?

[Lbmb24101]

[QUOTE=janmcn;733143]The first year's taxes on a new house only cover the land. The second year's taxes cover the house and land. Could this be the case?[/QUOTY

You are correct
And our monthly house payment has gone up considerably because of this

[Phanatic Luvr]

This is correct. Firt year taxes on the land, second years on house and land. Remember you are paying the majority of your taxes is arrears I believe.

[villager]

Yes, taxes are paid in arrears and the bond/maintenance is paid in advance.

[Easyrider]

Got my annual TRIM notice in mail yesterday. My taxes on my home have shot up 22% over last year. Sumter county. Wondering what is going on? Anyone else have same experience?


Sumter County, FL - Official Website (http://www.sumtercountyfl.gov/faq.aspx?qid=181)

Why have my property taxes increased?
Your tax bill may increase for a variety of reasons. Some of the most common reasons are:
Loss of homestead exemption or other change in exemption status
Increase in assessed property value (i.e. increase in market value)
Increase in millage rate by one or more taxing authority
Column 2 on your TRIM notice contains the amounts you paid last year for each component of your property tax. Comparing this amount to the proposed amount for the upcoming year should help you to locate an item that may have increased.

How do I calculate my property tax?
The taxes due on a property are calculated by multiplying the taxable value of the property by the millage rate. For example, the property taxes on a home with a homestead exemption of $25,000 and a total tax rate, from all taxing authorities, of 20 mills can be calculated in this manner:
Determine the taxable value of the property:
assessed value of home: 100,000
homestead exemption: -25,000
taxable value: 75,000
Divide the taxable value by 1,000 and multiply by the millage rate:
(75,000/1,000) X 20 = $1500

[skip0358]

Got my annual TRIM notice in mail yesterday. My taxes on my home have shot up 22% over last year. Sumter county. Wondering what is going on? Anyone else have same experience?

Because the accessed value of your home went up. Compare last years value to this years. Value goes up, taxes go up'
:undecided::undecided::undecided:

[Villages Kahuna]

I'm in Sumter and my assessed valuation went up by 1.7%, but my actual tax bill declined by about two bucks!

You got a good possible explanation above. If you bought a new house, your first year taxes (paid in arrears) are based only on the value of the land your house sitrs on. In the second year, they add the value of the house and your tax bill will increase dramatically. But if you've been in your house for awhile, you'd better pay a visit to the tax assessor's office. If you've been here awhile, something sounds wrong with your numbers.

[twinklesweep]

I'm in Sumter County. If no budget change is made, my taxes increase about $4/year; if proposed change is made, the increase will be about $3/year. I have no complaints!

[skip0358]

They went up slightly but as I said the assessed value went up. Either way they're still less then my school taxes alone were on Long Island.

[PaPaLarry]

Sumter County, FL - Official Website (http://www.sumtercountyfl.gov/faq.aspx?qid=181)

Why have my property taxes increased?
Your tax bill may increase for a variety of reasons. Some of the most common reasons are:
Loss of homestead exemption or other change in exemption status
Increase in assessed property value (i.e. increase in market value)
Increase in millage rate by one or more taxing authority
Column 2 on your TRIM notice contains the amounts you paid last year for each component of your property tax. Comparing this amount to the proposed amount for the upcoming year should help you to locate an item that may have increased.

How do I calculate my property tax?
The taxes due on a property are calculated by multiplying the taxable value of the property by the millage rate. For example, the property taxes on a home with a homestead exemption of $25,000 and a total tax rate, from all taxing authorities, of 20 mills can be calculated in this manner:
Determine the taxable value of the property:
assessed value of home: 100,000
homestead exemption: -25,000
taxable value: 75,000
Divide the taxable value by 1,000 and multiply by the millage rate:
(75,000/1,000) X 20 = $1500
Good information!!!! Mine went up $1.02 There goes "Happy Hour"

[mrf6969]

The first year's taxes on a new house only cover the land. The second year's taxes cover the house and land. Could this be the case?

I don't think so as I have been in the home now for 8 yrs

[mrf6969]

Because the accessed value of your home went up. Compare last years value to this years. Value goes up, taxes go up'
:undecided::undecided::undecided:

It sure did no up. 2012 value 180K and this yr 225K. That is huge and I will have to see how the county figured that.

[pakirk]

I talked with the Sumter County Property Appraiser's Office. The said that there was an adjustment based on increased market value. It had nothing to do with the millage. The market values were adjusted based on 80% of the actual resell value of the house determined through a market assessment. The change is tied to the model of the home.

[Bogie Shooter]

It sure did no up. 2012 value 180K and this yr 225K. That is huge and I will have to see how the county figured that.

Worth a trip to the tax man..............................

[ajbrown]

All these posts sure makes me feel warm and fuzzy that the appraisals are accurate. My assessed value went up by 7% and my total tax due went up by 5%.

They must have used a different dart board when doing ours....:ohdear:

These young men had is so right, what a perfect song.....

Taxman - Beatles - YouTube

Taxman - Beatles - YouTube (http://www.youtube.com/watch?v=tTTEC3HQLm4)

[Gerald]

My first year taxes was a lot lower then the second year tax. As stated before the first year is actually not completed house and land. Depending on what house you have and where it is built the new tax for the second year can be anything from hundreds to thousands over first year.

[Villageswimmer]

We received ours today and the entire 2012 column reads zeroes, as if this were our first year here.

Is anyone else's like that? Was going to call Sumter County today but thought they'd be overwhelmed with calls for a few days. Will try next week.

[THE NEWCOMER]

Opposite experience... My 2-yr old house in Tamarind Grove went down 2.6%

I live in Tamarind Grove and my CYV assessed valve went up 11.24% and my taxes when up 8.38%. If yours went down you can buy the first round! :bigbow:

[asianthree]

ours up $28.

[Duckfinger2]

I also live in Tamarind Grove and taxes went down almost 3%

[JP]

We live in St. James and our taxes actually went DOWN. Wow!

[JMEZARIC3]

Our Sumter County taxable value went up about 8% and total taxes increased by $70.Except for the two villas on the end of the street,our interior villa has the highest taxable value on the street.$2,000 TO $3,000 higher than our neighbors.If we appeal,we could save maybe $35 in taxes.Not worth the hassle.

[senior citizen]

They went up slightly but as I said the assessed value went up. Either way they're still less then my school taxes alone were on Long Island.
,
You just put it all into total perspective. For those folks who have never lived on Long Island, N.Y. or in New Jersey, etc., etc........they have no idea what high property taxes are.

TV's seem similar to ours in Vermont, very low.

However, our relatives in the greater N.J./N.Y. metropolitan area would be saying "What's all the fuss about?" Unbelievably high taxes. However, their property values are also very very high, so they can move down with a huge profit. Most of us have paid our mortgages off while still in our 40's.........so wouldn't need a mortgage.......but taxes are a concern as one ages. Florida is a tax friendly state for seniors, in more way than one.

[skip0358]

It sure did no up. 2012 value 180K and this yr 225K. That is huge and I will have to see how the county figured that.

There is a procedure explained on the back of the notice you received.

[Kelsie52]

Our Taxes increased $130--I am not really worried about the rate !! As others have stated --we were from LI NY --real estate taxes were 4 times what I am paying here ---my question is --With all this new construction and population growth --where is this tax money going ??? are we getting more or enhanced services ? I have not seen it . The bond takes care of all the infrastructure here in TV so there cant be additionl tax revene needed for that !!!

Except for the hiring of a few new Deputies to give tickets here in the Villages I have not seen any increase in services

[Bill-n-Brillo]

"Market Value" of our home went up 4.4%. If no budget change is made, our ad-valorem property taxes will go up 2.3%. If the proposed budget change is made, our taxes will go up a couple of dollars more than that.

Bill :)

[gomoho]

I hope the value is being stated as "assessed" not "market" value on the TRIM. Big difference there.

[spk7951]

Our Taxes increased $130--I am not really worried about the rate !! As others have stated --we were from LI NY --real estate taxes were 4 times what I am paying here ---my question is --With all this new construction and population growth --where is this tax money going ??? are we getting more or enhanced services ? I have not seen it . The bond takes care of all the infrastructure here in TV so there cant be additionl tax revene needed for that !!!

Except for the hiring of a few new Deputies to give tickets here in the Villages I have not seen any increase in services


Some of the improvements listed in the proposed County budget:

The Villages Fire District will be adding six firefighter positions
The Sumter County Fire District will be adding one position
County public works will be adding three to their staff
Sheriffs office is adding ten deputy positions, four dispatchers and four office positions
Library systems will be outsourced and supposedly bring an increase of service

Those are some significant increases.

[buggyone]

Mine went down by $1. Value of the property increased substantially but tax went down by $1. Yes, this is a great place.

[deltaguy]

Remember that if you pay your taxes in November you get a 4% discount (at least I think it is 4%).

Z

Sorry to break the news that if you pay later than November you are paying a premium. What you pay in November is your Tax Bill.

[Kelsie52]

Sorry to break the news that if you pay later than November you are paying a premium. What you pay in November is your Tax Bill.

That is really not the case. You can check any tax bill on line and see how the discount is applied --also see The Sumter County Tax Collector page
If your taxes are paid through a mortgage --they are paid during the early November period (at least through Citizens) --Pay Early !!


Real Estate & Tangible Taxes

AD VALOREM taxes based on value of real property are collected on an annual basis beginning on November 1st for the tax year January through December. The office of the Property Appraiser establishes the value of your property and the Board of County Commissioners and other levying bodies set the millage rates. Non ad valorem assessments are levied on a unit basis, rather than based on value.

Using these values and allowing for exemptions, the tax roll is completed by the Property Appraiser and he passes the certified tax roll to the Tax collector. The Tax Collector merges the non ad valorem assessments into the certified tax roll and mails the tax notice/receipt to the owner's last record of address, as it appears on the tax roll.

However it is the responsibility of each taxpayer to see that the taxes are paid and that a tax bill is received. In the cases where the property owner pays through an escrow account, the mortgage company, meeting criteria established by the Tax Collector, can request and be sent the tax bill, and the owner will receive a copy of the bill of information.

PAYMENT OF REAL ESTATE TAXES

Tax statements are mailed out by November 1st of each year with the following discounts in effect for early payment:
4% if paid in November
3% if paid in December
2% if paid in January
1% if paid in February

Or
The gross amount due in March

Taxes become delinquent April 1st of each year, at which time a 3% penalty is added to the bill. Advertising costs are also added before the tax certificate sale.

[mrsanborn]

.. The change is tied to the model of the home.

This is the same line of crap I got last year from the appraiser's office when I questioned them how a home purchased new at $350,000 is taxed at a lower value than a house purchased new at $215,000. "sorry sir, it's based on the model"! After researching over 100 homes in The Villages, I found that the percentage of assessed value to purchase price (new homes) ranged from 97.12% to 58.10%. That is a huge swing. The model should have no bearing. To be able to make assessments from behind a desk is magical. Just because the developer is raising prices on new homes at will doesn't necessarily mean that all of our homes have increased in value by that same percentage. My point to the appraiser this year will be: 1 - show me the legal means by which you can increase market values without physically touring the home and 2 - how can you justify the assessed value percentage versus the market value? Either the county is losing a tremendous amount of money or some of us are being overcharged. I am willing to pay my fair share to support whatever this county needs but only my fair share. Bring it on.

[Steve & Deanna]

Our property taxes on our villa went up $98.00 but our market value went up 7 1/4 %. I phoned Sumter County Taxing Authority and it was explained to me that if we were full time residents in TV, our market value would have been capped at 3%. She also attributed the rise in market value due to a sales analysis based on number of homes sold ad what they ended up going for. I still look at properties of TV and this year seemed like pre-owned(s) were selling at a very brisk pace. Note too that if you feel that you received an inaccurate read, you can call Sumter County Taxing Authority at
(352) 569-6800. Always look to save a buck when you can.

[Steve & Deanna]

,
You just put it all into total perspective. For those folks who have never lived on Long Island, N.Y. or in New Jersey, etc., etc........they have no idea what high property taxes are.

TV's seem similar to ours in Vermont, very low.

However, our relatives in the greater N.J./N.Y. metropolitan area would be saying "What's all the fuss about?" Unbelievably high taxes. However, their property values are also very very high, so they can move down with a huge profit. Most of us have paid our mortgages off while still in our 40's.........so wouldn't need a mortgage.......but taxes are a concern as one ages. Florida is a tax friendly state for seniors, in more way than one.

We're in Chittenden County in VT and our taxes are HIGH

[iaasah]

my taxes went up $700 and value went up over 10%????

[Xavier]

my taxes went up $700 and value went up over 10%????

Where is the property? The Villages? Lake, Marion or Sumter County? Which Village?

Thanks in advance for the additional information.

Xavier

[zcaveman]

Where is the property? The Villages? Lake, Marion or Sumter County? Which Village?

Thanks in advance for the additional information.

Xavier


In the upper right hand corner of the post is Location: That is where you can tell where you live. iaasah's location says Duval.

Not all fill that part out on their profile.

Z