sumter county taxes
 

Does anyone know what "Save Our Homes Benefit" is on the 2019 TRIM Notice?

We bought our pre-owned house last year. That owner had gotten an exemption for it

You won't see the exemption" until the second full tax year you are there. The amount they use is the purchase price. Google is your friend: "Save Our Homes" Amendment and Its Effects - Rick Singh, CFA - Orange County Property Appraiser
Save Our Homes Amendment | Property Tax in Florida
This is better explanation: "Save Our Homes" Amendment and Its Effects - Rick Singh, CFA - Orange County Property Appraiser

Example: On our TRIM notice the appraised value of our home went up $28,000 but the increased taxes we pay are only based on something like 3% or so of that difference. Took effect in year 2 with year 1 being the base year.

The "Save Our Homes Benefit" is the difference between the Market Value and the Assessed Value. SOH limits the increase in the assessed value to 3% or the CPI. For 2019, the CPI is 1.9%. That should be the increase in your assessed value assuming you are homesteaded. The benefit kicks in on the second year. You can use Google for more info.

If you call the Property Appraisers Office, they’ll explain it better than I ever could. It’s not intuitive (to me at least), but there’s definitely a methodical process.

One takeaway for me is that so much hinges on the home’s purchase price. It’s to one’s advantage to buy a home and have your own improvements done as opposed to paying top dollar for move in ready. You’ll pay for those already done improvements over and over again in taxes. My experience/opinion. YMMV.

remember folks if your market valve increased (which mine did by 60k) each year your assessed value can go up 3% a year,SMH.
They are setting us up for massive increases over time. There is no way even close; my property increase 60k in one year.
They get the market values from a mass appraisal algorithm done by the state which more than 1/2 the time is wrong.
There are two many variables in the villages with a wide range of different homes.
Don't be of the mindset; "oh boy my house is worth that" is a bone head move. The FMV (fair market Value) doesn't come into play until the cash hits your bank account for your sale of the home. We are being herded to the kill to raise are taxes in the future to there 25% increase over time.
How in gods name do you think these bridges are being paid for on 44 and the turnpike, including all the maintenance on them.
What kind of bonds do you think people will see in the new sections of fenny to pay for it. Why do you think they started 5 miles away from 44 first? they wanted to get those sections populated first before the big bonds hit near 44. Common sense 101.

Didn't know Sumter was paying for the bridges, thought The Villages was paying for the bridges? Might want to fact check why Fenney was first.....I think you might be mistaken on that one.

" The CDD 13 board of supervisors approved an agreement to assume all future infrastructure costs for the bridges in advance of a pending municipal bond issue — just as has been done in every other CDD developed here."

Life in The Villages

Exactly, so property taxes do not support that infrastructure correct?