[Chi-Town]

Mine went up a hundo and a double saw.

[Bill14564]

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.

[BillyGreenYokel]

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...

[Risuli]

Originally Posted by Regorp

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.

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!

[Bill14564]

Originally Posted by Risuli

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.

[Dusty_Star]

Originally Posted by BillyGreenYokel

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...

One would hope.

[Altavia]

Originally Posted by BillyGreenYokel

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...

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.

[Risuli]

Originally Posted by Bill14564

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.

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.

[tophcfa]

Originally Posted by asianthree

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

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.