Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
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Homestead Exemption?
A couple of questions regarding Homestead Exemption. What is the approximate reduction in your property tax do you get with the exemption vs. without. Just an approx figure because I know it will be different because of the three county and the appraised value of the home.
Also in looking at the Sumter County web site I notice that on some listings it shows two $25K homestead exemptions and I know the person is single. Are there more than one $25K exemption and if so what is the second for? Sumter County changed their web site and they have made it a lot more difficult if researching property tax records. I tried doing a number of searches and of the 10 or so I tried only one came back with any tax history. Before the changes it was a one click effort and now it is a lot of cutting and pasting only to come up with nothing. That's the gov for you. |
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#2
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When you select a property on their map, you can then select the "Parcel Details" tab at the top of the map. On the details page you can then access the tax record by clicking "Retrieve Tax Record" on the upper right corner of the page. I hope this helps you!
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ARE VILLAGERS OLD OR ARE THEY RECYCLED TEENAGERS At my age rolling out of bed in the morning is easy. Getting up off the floor is another story. "SMILE... TOMORROW MAY BE EVEN WORSE!"
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#3
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http://sumterpa.com/Exemptions.asp
The listing you said showes two $25K homestead exemptions may be because of the SENIOR EXEMPTION Additional $25,000 Homestead Exemption for Persons 65 and Over. See the second paragraph in the above link.
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North of Pgh and OBX |
#4
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ARE VILLAGERS OLD OR ARE THEY RECYCLED TEENAGERS At my age rolling out of bed in the morning is easy. Getting up off the floor is another story. "SMILE... TOMORROW MAY BE EVEN WORSE!"
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#5
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Senior Exemption (Over 65)
I too read the note about income cannot exceed 24,500 per year to qualify for the Senior exemption.
I think the question is, "What constitutes income"? If income excludes social security, pension payments etc; and is only meant for salary, tips etc; more people would probably qualify. Hope someone might have a clearer interpretation of this rule. |
#6
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At first I was thinking that this may have been an Internet Explorer issue as I am now using IE9 RC but that is not the case. Same thing happens with Fire Fox. I next tried my lap top (IE8 and Fire fox) and both worked there. It may have been a recent Java script update on the desktop. Thanks again as I now have some options and it is still better than going out and shoveling the 6" of party cloudy we received last night. |
#7
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#8
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The $50K exemption shown on most properties is due to the fact that an additional $25K exemption applies to assessed value between $50 to $75K but only to nonschool taxes.
The Fl Dept. of Revenue website has explanations for all exemptions. You can google FL property tax exemptions for a list. |
#9
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Guess it wasn't....
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Holyoke, Mass; East Granby, Monroe, Madison and Branford, Conn; Port Clyde, Maine; North Myrtle Beach, SC; The Village of Bonita (April 2009 - ) |
#10
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I removed IE9 RC and now everything is working as it had in the past. Looks like Microsoft has some bugs to correct before public release.
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#11
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On an average Villages house, about how much do you save by applying for the Homestead Exemption? Does anybody know? Is it worth spending tomorrow digging through the boxes of paper in the closet to find the information I need, and then standing in line for 10 hours on Friday?
Just wondering, Judy the procrastinator
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Toledo, Maumee, Lima, Columbus & Sandusky, Ohio New Castle, Newark & Delaware City, Delaware Lewisville, Pennsylvania Bossier City, Louisiana Salt Lake City & Ogden, Utah The Villages, Florida |
#12
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Homestead Exemption
For those asking what is meant by Income, the form you sign to get the exemption is DR501SC, which specifically states as follows:
Definitions: Section 196.075, Florida Statutes. Additional homestead exemption for persons 65 and older. - As used on this application, the terms: (a) “Household” means a person or group of persons living together in a room or group of rooms as a housing unit, but the term does not include persons boarding in or renting a portion of the dwelling. (b) “Household income” means the adjusted gross income, as defined in s. 62 of the United States Internal Revenue Code, of all members of a household. (This is the “Adjusted Gross Income” amount reported on IRS Form 1040.) |
#13
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Very rough numbers:
If you have a home with a tax value of $250K and pay $4,000 in property tax the $25k exemption would lower your value by 10% and probably lower your payment by 10% or $400 per year. Add to that the possible savings of no state income tax in Fla versus what you pay in states having state income taxes. .
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Da Chicago So Side; The Village of Park Forest, IL; 3/7 Cav, 3rd Inf Div, Schweinfurt, Ger 65-66; MACV J12 Saigon 66-67; San Leandro, Hayward & Union City, CA (San Francisco East Bay Area) GO DUBS ! (aka W's) |
#14
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An advantage to homesteading is that it sets the base cost of your home so that your property taxes can only go up a certain small % per year because of the Save our homes act. When property values were going up so much per year, the Save our homes act could save several thousand a year.
I did not explain it very well but we were homesteaded in South Florida and our neighbors were not. Over the years, as property values skyrocketed, our taxes went up a few hundred dollars each year, but our two neighbors jumped thousands per year, eventually getting to $16,000 for one home and $9000 for the other.
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Village of Hacienda East |
#15
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Thanks all for your replies. Now that I an back using IE 8 I can do some general research of a village and find a couple of similar valued homes with and without the exemption and find the difference.
The reason I asked this question was at some point I hope to have property in both Ohio and TV. At that point I will have to decide where to homestead and I and 90% sure it will be in Florida. I recently talked to the local auditors office here in Ohio and he tried to explain the math behind calculations and it was as if he was describing the math behind the Enron balance sheet. It bottom lined out to being about a $400.00 decrease in property taxes for the community where I currently live. As far as the issues I was having with getting the tax information from the Sumter County web site that was due to a compatibility issue with IE 9 EC. There is a setting that needed to be changed but I went back to IE 8 before discovering that fix. I will wait until IE 9 is ready for final release. |
Closed Thread |
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