2024 Trim Notice
 

:sad: My 2024 Trim Notice came in the mail yesterday. They are also available online. Very surprised nothing mentioned on this site. ;)

:popcorn::popcorn::popcorn:

It is what it is, goes in my pile of mail, and I just wait for tax bill.

Non issue
 

It came, tax level went up less than a hundo so non issue.

Have not yet compared it to last year

So is a hundo the same as a hundred ? NOT trying to be nasty, actually want to know, sorry to be so naive.

Can't really say that I'm seeing the negligible impact of the change fire district change. Yes, my share of the bill from Sumter County did go down, but only by $8.29, which is more than offset by the increase of the fire district charge from $125 to $320.71.

About the only people I see benefiting from this change are non-homestead exempt residents, who will see a reduction because of the reduction in the county millage rate and their higher taxable value.

Hundred
The meaning of HUNDO is hundred; especially : a hundred dollar bill.

i

Also called a Benjamin!

United States one-hundred-dollar bill - Wikipedia

Don't tell anyone but my fire district charge is tad over a "Lincoln". Must be an error after all the chatter. County charge came down $20.

C Note....is also a hundo....

you are lucky for that small tax increase.

Fire Assessment Went Up
 

The Fire Assessment is on the back of the notice under Proposed Property Taxes.

2 new categories
VPSDDD FIRE ASSESS-READY 239.14
VPSDDD FIRE ASSESS-RES. 81.57

The proposal is the up charge from the 125.00 last year

Ok, so, I'm new here. Less than a week. What is a 'Trim Notice'? I've never heard of one of those before

Tax advisement
 

Your proposed tax bill on your property for the proposed year (2024). It line items all the charges: County (largest), School, City etc.

Your last year taxes is part of the notice. My proposed tax bill will go up $800. Insurance up $1000. Auto insurance up $700. I now have a better guess on why several of my neighbors have put their homes on the market during the last 4 months. And all along I thought it was me chasing them off.

Finally. I was beginning to think mine was the only one that went up more than a hundred. I’m seeing an increase of $400 and wondered if this will be the norm moving forward.

Tim, the trim notice is an advance of what will be on your tax bill that comes in the beginning of Nov. DO NOT PAY the trim notice, it is for information only.

My proposed tax bill is down $160 (using proposed budget - down $280 without proposed budget changes). Auto insurance up $48.00 (one car). Homeowners actually down by $7.00 a year. Very happy with this summer’s “housing cost news” (we closed in July so ours all hits at once).

Truthiness
 

Google suggests this. Florida Dept. of Revenue -

Your millage may vary?

Property Tax - T.R.I.M.

Once you have residence in Florida on January 1, the clock is ticking to register for the Homestead Exemption. Window to register closes March 1. You can’t take a Homestead Exemption if you live in another state. If your AirBnb neighbor took a Homestead it would be illegal.

Best part is this law:
What is the 'Save Our Homes' law? 'Save our Homes' is an amendment to the Florida constitution that took effect in 1995. It limits the annual increase in the assessed value of homesteaded properties to 3% or the change in the National Consumer Price Index (CPI), whichever is less.

Bummer. I moved into my house last year. it was owned by investment company so I was stuck paying their non-Homestead rates. I filed for the homestead exemption (Marion county) and have been excitedly waiting for the new rate. So it's entirely possible that even with the Homestead exemption my taxes could be going up, lol.

Don't matter, can't fight city hall....

I'm new to TRIM notices as well (we bought in March) and though our Notice is about $480 less than what the Sumter County tax assessor shows was paid last November, I have a theory and want to see if I understand this correctly:

This Notice says its for "Ad-Valorem" taxes, while the Bill on the assessor page has a separate group of non-Valorem taxes -- those are then included in the final bill and thus make up the difference?

Also, the amount paid by the prior owners in November is a bit less than the final bill, and I recall hearing there is a discount if you pay early...true?

Thanks.

Trim
 

Estimate of your tax bill for 2024, coming soon to your mailbox by October. Make sure in January to apply for Homestead discount of $50000 off of your assessment.

It's when they TRIM money from your wallet .

TRIM stands for "Truth in Millage".

Before someone asks, for a personal residence, ad-Valorem "taxes" are tax deductible on your Federal income tax return. Non-ad-Valorem "assessments" are not tax deductible, except for those who cheat on their taxes.

Also remember, every time you make a significant improvement to your home like adding a pool or expanding the bird cage, etc, most of these activities require a permit and the town assessor always follows up after the work is done. Depending on what work you had done, it could significantly increase the value or your home and thus increase the taxes. For those who think they can get away with it by not filing a permit, I've seen the town assessors office driving around taking pictures and other means to see if you made any "improvements" to your home.

If you happen to be in lake county there's a 550-ish% increase in the North lake hospital portion of the tax notice, only about $450 increase for our house....

TRIM Notices
 

Someone here posted that due to higher taxes and insurance his neighbors are selling their homes. Just curious, where are they planning to live?

My total only went up less than $100, but I was surprised that in one year, my Market Value went up 25%. At least the one that counts, the Assessed Value only went up less than 4%.

Mine went up a hundo and a double saw.

My ad valorem taxes would have gone down if it wasn't for a 6% increase in school taxes. I now pay more in school taxes than I do in county taxes.

I've not taken a deep dive into the topic, but with the residential and commercial growth rate of The Villages (especially south of 466), I would think that tax revenues would outpace expenses. I know. I'm CRAZY to think that taxes could be decreased instead of finding ways spend more than might be needed...

Can you explain the "Homestead discount of $50000 off your assessment"? I applied for the Homestead exemption this past year and my Notice of Proposed Property Taxes shows the exemption applied as reducing my home's market value by $25,000 with assessments based off of this lower (-$25,000) valuation. Thx!

According to the Florida Department of Revenue you should be seeing $25,000 exemption on school taxes and $50,000 exemption on County and Water Management taxes.

When I look on my TRIM notice I see a top block with the various taxes and a Taxable Value then a second block with Market Value and Assessed Value.
- My Assessed Value is less than my Market Value due to the Save Our Homes reduction
- My Taxable Value (that taxes are calculated against) is $50,000 less than my Assessed Value for County taxes and $25,000 less than my Assessed Value for Public Schools taxes.

One would hope.

You would think so given over $2 billion is being added to the real estate tax base each year.

The growth is at least keeping our tax rates stable/lower than similar areas.

But I would not be surprised if there is spending that would otherwise come under increased scrutiny if taxes were being increased.

Ah, thank you! I now see that my "Taxable Value" is $50,000 less than my current year "Market Value", which in turn is $25,000 less than my prior year "Market Value" due to the Homestead Exemption.

Exactly, it’s all just a transparency clouding shell game. Wait until the tax bill comes before passing any judgment. After all, at the end of the day what really matters is the size of the check you have to write this year versus prior years.