Can FL Homestead Exemption be quantified in mills?
 

The loss of Michigan's Homestead Exemption for property tax purposes can be quantified in mills (dollars per $1000 of taxable value). For example, our township assessor told us the loss of this exemption is 18 mills. Can the Fl homestead exemption be quantified in that manner? If so, how many mills is it?

If you purchase a home in Sumter County, are a Florida resident, and are over 60 years old, you will get $50,000 off your assessed value of the land and home ($25,000 off of the school tax part). That translates into a savings of $498.07 per year, before any early payment discounts.

You do not need to be 60 years old. We are under 60 and get the same exemption on our taxes. You have to show The Villages home as your primary residence to qualify.

Bosoxfan - you are right! I was getting my Northern home mixed up with my Southern home.....