Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Escrow for taxes doubles? (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/escrow-taxes-doubles-223903/)

Bogie Shooter 01-02-2017 10:35 AM
Quote:
Originally Posted by OhioBuckeye (Post 1341247)
Thanks FrankieDee for that info. I just said things are getting more expensive in another article about, replacing AC & putting a new roof on. TV are going to price themselves right out of new residents. I was thinking about down sizing but now that you past this info out here, I'll probably move out of TV instead of staying. With property taxes & what you informed us about, I can't see where anyone can get ahead but the Morse's will keep getting richer & us poor working stiffs & the ones that live off of their savings or Pensions will keep getting poorer & poorer. Oh well, better than paying a nursing home 4 to $7,000. a month. Thanks for the info!
Where you going that has lower tax rates? What is keeping you from getting ahead, and what does that have to do with the Morse's? If living off savings and pensions, why would you get poorer & poorer?

genobambino 01-02-2017 11:02 AM
Same thing happend to us. I checked the Lake county auditors site to see the estimated tax for 2017 which was considerably lower than the escrow dept estimated. I called the escrow dept and got them to lower the escrow amount of the payment, they weren't real happy about that claiming it's only an estimate and I might be short. So what I'll pay the difference, better than them refunding me a couple thousand dollars at the end of the year, and using my money interest free.

fastboat 01-02-2017 12:22 PM
Taxes and Bonds
 
Just a suggestion. Take out a home equity loan and pay off your bond if you plan on staying put. At least you will be able to write off the interest on that loan. You can't write off the bond payment which, if you go the whole 9 yards is really about twice the amount. Word of caution, if you're not sure about staying put, DON'T pay off your bond. You will NOT get that money back when you sell, no matter what anyone tells you.

justjim 01-02-2017 01:27 PM
Good advice
 
Quote:
Originally Posted by fastboat (Post 1341373)
Just a suggestion. Take out a home equity loan and pay off your bond if you plan on staying put. At least you will be able to write off the interest on that loan. You can't write off the bond payment which, if you go the whole 9 yards is really about twice the amount. Word of caution, if you're not sure about staying put, DON'T pay off your bond. You will NOT get that money back when you sell, no matter what anyone tells you.
Very good advice. Nobody said to me "living in The Villages is "cheap". However, the term "cheap" is relative. I had a good friend (passed a year ago) who used that term "everything is relative" all the time. We get a retirement lifestyle that is second to none for what we pay in taxes, bond and amenities here in The Villages. When I add it all up, it's still cheaper than my taxes in Illinois. Everything is relative!


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