Taxes in the newer sections?
 

Looking to buy a house in one of the newer sections in a couple months.

It would be a new house in the 400k Range, 1500-2000 sq '

Was trying to figure out what property taxes may be in those newer homes.

Just the Property Tax not including the bond.

I realize it depends on what county you are in, are the newer sections all in the same county?

Any insight would be much appreciated from some one who has gotten a tax bill after living there awhile.

Use this site:

Tax Estimator - Sumter County Property Appraiser

Most of the newer section is in Sumter County, inside of the town of Wildwood. There is also some building going on East of the Turnpike in Lake County, inside the boundaries of Leesburg.

Some areas pay Wildwood taxes. I'm not sure what services are provided for the taxes.

People within certain parts of Wildwood pay 4 millage points higher on their taxes. Taxes here are fairly low.

3 mil more for wildwood for nothing in return. About 30 percent. Just look up homes there on Sumter property assessor. Still not stopping buyers including me. New home prices there were far better than used which offsets the taxes

Water is also much more expensive


Wildwood
Millage rate
13.4000

Taxes, Insurance and don’t forget the “ Bond”…. my question to the OP is why not looking in the Sumter Landing area? A lot less noise

The new construction going on right now is in the Villages of Newell, and Lake Denham. They are both in Lake County. Richmond, which is in Sumter County, is just about sold out.

Agree.

You are making a great choice.

I hear the bonds are pretty high. Get a good agent and they will be able to answer all your questions.

A lot more land on the Westside of the Turnpike.

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How can I tell if what I am looking at when down there is an unincorporated area or not?

Using the calculator it seems the selling price would be the appraised value, correct.

Using wildwood as an example, PT on a $400000 house would be about $5500 without the bond.

Am I seeing this correctly?

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I really like a whole lot of your posts Bay Kid. That being said I've been on TOTV'S for a few days now and have learned to NEVER take the word of a realtor or any salesperson as truth. Using it as a guideline to do further investigation sounds better.

Salespeople remind me of our youngest son. If you don't ask the exact deadhead question they don't do anything to give you the entire story. Give it a try. Ask your Realtor a question that you already are certain of the answer to and see what you get. I loved our sales lady but the bottom line is to get you to sign. PERIOD!

There is a one-sentence line on page 10 of the contract that mentioned the Bond. She never brought it up until I did at the very last minute before I forked over the 10%. She was Skooby Doooing her words cause I trapped her and she was embarrassed. Beware, quadruple-check everything cause once you sign that's the ballgame, Jack!

No Buyers Remorse Here. EVER! :eclipsee_gold_cup:

You really hit that old "nail on the head". LOVED your example of your youngest son, so true how carefully they "craft" their answer to it sounds as if they are answering, yet NOT volunteer anything. A buyer simply has no choice but to learn to play their game. Our oldest son once replied to the question: Did you pick up your books you left on the stairs (where he also left his gloves and a few other things) ? "Yes, I picked up the book" ! ! He would have made a good real estate sales person ! If you want to really have a fun day, ask your sales person to explain how the tee time/points system works....LOL ! Or why you must PURCHASE passes to enter public streets/gates, when there is a faster, easier way, called "visitor" lane where "visitors" are never stopped or questioned... that's another interesting range of answers, they all make it up as they go along...LOL ! Just have to smile and enjoy whatever you decided on !

Should be close,aubr up to $1k lower if you qualify for homestead exemption.

Insurance on the newer homes can be lower than those not built to the current hurricane/wind mitigation standards.

I was going by what it says on the tax calculator in Sumter county. It says" the selling price is the appraised value"

I have never seen that hear where I live. They re asses the property's every 10 years but it is always a 0 sum gain

For example when I bought my house hear it sold for $360K but the asessed Value first tax bill was like $310K

Our first and 2nd agents were closed mouth on bonds, taxes and anything pertaining to cost of living. We had done our homework, so there were no surprises for us.

We moved on to our third agent, that discussion is about bonds, taxes, Wildwood (south of 44) and the new villages that would be Lake county. We consider him a friend first, feel comfortable with buying or selling with his expertise. Bought 1 house, built 1 house, and he has sold 2 of our homes and about to list a third.

I understand and feel that way about the Scooby Doo Saleslady. Overall, fantastic but my eyes are wide open all the time.

I went to Sumter County Town Hall today to do the license and registration change and saw the Property tax department while we were there. I got much better clearer answers than when I called them.

I was fortunate enough to have one realtor like you do that I fully trusted. It's because I had dirt on her and she wouldn't think about crossing me. What a great person. I was glad to have her on my side. I hope God willing that we never move from this perfect house again. So that means, I'm finished with realtors and the stock market and my mind can finally rest. It's been a haul moving and packing this time. I wanted to have a mover do it ALL but momma said no. If I had to do it all over again I would have sent her to see the grandchildren in N.J. and magically our stuff would have ended in the new house. We are unpacked now we just have to make it our home. I just sign checks and say YES DEAR! BUY IT SWEETHEART! :1rotfl: :thumbup:

Beware there is A lot of smoke and mirrors tactics used to sell homes at the villages.

Taxes in the newer sections
 

All of the newer sections in Sumter County will be within the city of Wildwood which has annexed those areas. This will include the new Eastport area and Middleton, where the new schools and family areas are being built. For the east side of the turnpike, all of the new areas are in Lake county and in the city of Leesburg. Use the property assessors web site for each county to estimate the taxes and use Leesburg and Wildwood as the corresponding municipalities.

WOW...would NEVER buy in the new areas. So many houses there ( already used) are for sale. Incredible. Just look at the houses listed for sale in the Daily Sun, WHY are so many already for sale?? Makes you wonder doesn't it?

LOL. This is a perfect example of having no idea but has a hidden agenda. Of course you wouldn't buy in the new area, you are in the north and really have no idea about the south.

IMO there are so many for sale because people can make a bunch of money based on what they paid for them, I know we could! We bought at a good time in a hood location and don’t want to move again, but if we did there is money to be made for sure.

Homestead - your primary home or not makes a huge difference.

It must be frustrating. Continue to make comments about the new area, but unable to persuade people not to buy there. Houses continue to sell as fast as they can build them. Property values in the south are moving skyward. Must be tough watching it from an outdated home.

Ignore user is our friend.

That is so rude and uncalled for. Shame on you plus you have no idea of what you're talking about. Most homes up north have been modernized inside to today's standards and are priced comparablely to new homes and are also selling like hotcakes at high prices, but already have professionally done mature landscaping and shopping nearby. All areas of the Villages are wonderful places to live.

Because people are doubling their investment in a year. Doesn’t make me wonder at all!

Nope wait a year, make $$$ profit, never moving in. We have met several people that buy 2 new houses at a time sell after a year, even with capital gains, it’s a substantial Chuck of change, for basically doing nothing. Beats investment right now. Average sold sign is under 30 days in TV. None of ours lasted more than a week on the market.

If you are looking in the new areas of Newell, etc those villages are in Lake County not Sumter county. I have heard that both the taxes and the bonds will be much higher then the recently sold areas of Sumter county. I don’t think anyone on this sites can tell you what that will be because their numbers are for Sumter county. Call Lake County tax assessor and see what answers they give you.

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On the Home stead exemption, From what I can find the max is 50k reduction on home value.

Is that for one person or does both my wife and i get that deduction for a total of 100K?

They were investment purchases. So the main reason I would think without any proof would be the Almighty Dollar $$$$$.

It is only once per household. That's the was it was in The Historic Section. I like your idea a whole lot though.:a040:

Not just the County. Many new homes are in Wildwood and will also pay city taxes.

Taxes
 

If you use the Sumter County tax estimator, do not forget to add CDD taxes. This is something not included in the tax estimator. This depends on the CDD where your property will be located. You can get the current CDD taxes by looking at a neighbor's taxes on the Sumter county web site, probably in the $500-600 range.