[vintageogauge]

What does the original purchase price have to do with today's selling price. The only "fairly" true way to evaluate a used home is to find recent comps and even that is hard as the lot prices vary soooo much depending on the village and the features the lot has. Then there is landscaping added, possibly an enclosed lanai, or pavers, or carpet replaced with hardwoods or tile, so on and so on but the original purchase price has absolutely nothing to do with a homes current value.

[Altavia]

But yet the newest Villages Board continues to fill up - looks like something near 50 closings Oct 2-3.

[lawgolfer]

Originally Posted by manaboutown

My brother in 2016 bought a home in a Robson development, The Preserve at Saddlebrooke. It is only worth about 50% more than what he paid for it after over seven years. I visited him a couple times and found it remote, a long drive from just about everything. They only had one clubhouse and restaurant. Only one golf course I believe. Anyway it was not for me. I much prefer The Villages.

Robson has several high-end developments in Arizona and one outside Austin, TX.

However, Robson, as well as other similar retirement developments, has a golf course, a fancy clubhouse, tennis courts, and a restaurant. For anything else, from a loaf of bread to a pair of flip-flops, you have to go outside the gates, and not in a golf cart. For a doctor or dentist, you are likely to have to drive many miles.

There is no place like The Villages. The only thing I can think of that I need but can't buy in The Villages is a set of tires for our car. Even then, they are available just outside TV.

[Pat2015]

That’s been the case in TV with every village they’ve built where some homes are discounted if they don’t sell. Also, prices are reduced when there’s only a handful of houses that remain unsold in a new village to close out the sales there. There’s nothing to be alarmed about based on the present sales. Also, theres only 3 new houses left in Newell out of 1100 that were built. All is well here in TV and they are continuing to build at a frenzied pace.

[Stu from NYC]

They are still selling about 300 new homes a month and looks like they will continue to do so but perhaps at a slightly reduced price, maybe 5% cheaper.

[MrChip72]

Originally Posted by Velvet

I like this idea of housing crash in TV since I don’t plan to sell in the near future, but why has my property tax gone up by a significant amount, instead of down then?

I think many people don't understand how property taxes are calculated. Sure it's based on a multiplier of your home value, but that multiplier sometimes called the "mill rate" will simply go up in line with the drop in home prices to meet whatever the local county budget requires.

[Velvet]

Originally Posted by MrChip72

I think many people don't understand how property taxes are calculated. Sure it's based on a multiplier of your home value, but that multiplier sometimes called the "mill rate" will simply go up in line with the drop in home prices to meet whatever the local county budget requires.

Aha, makes sense, in a way. But expensive houses don’t go up in the same proportion as cheaper homes. And yet the mill rate is probably the same. So there is a redistribution of income.

[MrChip72]

Originally Posted by Velvet

Aha, makes sense, in a way. But expensive houses don’t go up in the same proportion as cheaper homes. And yet the mill rate is probably the same. So there is a redistribution of income.

Mill rates aren't usually equal. For example, in prime waterfront properties the mill rate will usually be 2x what a similar sized non-waterfront property "across the street" in the same area will be regardless of property value which could lead to the waterfront one paying 5x the yearly taxes when you factor in the higher value.

[manaboutown]

Originally Posted by Velvet

Aha, makes sense, in a way. But expensive houses don’t go up in the same proportion as cheaper homes. And yet the mill rate is probably the same. So there is a redistribution of income.

Not so!

[shaw8700@outlook.com]

Originally Posted by Laker14

Are you planning on buying new, or a pre-sale? Do you have an area here in TV in mind?

Definitely a used home, but I don’t know what will be available by that time.

[Velvet]

Originally Posted by MrChip72

Mill rates aren't usually equal. For example, in prime waterfront properties the mill rate will usually be 2x what a similar sized non-waterfront property "across the street" in the same area will be regardless of property value which could lead to the waterfront one paying 5x the yearly taxes when you factor in the higher value.

So then you are saying the mill rates compensate for the market value of various categories of houses? You are right I am not sure how mill rates are determined. How does assessment relate to present market value then?

[shaw8700@outlook.com]

Originally Posted by manaboutown

My brother in 2016 bought a home in a Robson development, The Preserve at Saddlebrooke. It is only worth about 50% more than what he paid for it after over seven years. I visited him a couple times and found it remote, a long drive from just about everything. They only had one clubhouse and restaurant. Only one golf course I believe. Anyway it was not for me. I much prefer The Villages.

I was blissfully unaware of TV, thinking that my home here in Rio Verde was the most beautiful place on earth. Then I saw a video on YouTube entitled “The Most Infamous Retirement Community” and I got excited. Then I saw more videos, like ones by Skip and Sue, The Newcomers, and others. Then my husband went with me to TV in July and we both fell in love with the landscaping, how clean it was, the birds and the manatees. He wasn’t convinced he would like it, because of the number of people, but everything else he loved. Now both of us are chomping at the bit to move.

This is a very small community compared with TV, and as a result, especially in the summertime, there’s nothing to do here if you don’t golf. There’s a county park close by so my husband could go and ride his bike or hike but that’s all we do. It’s amazing to me that you can take your golf cart to get your nails done, go to the doctor, go to so many restaurants, shopping, we even to a hardware store when we were out there!

Now if the snowbirds will just buy my home!

[margaretmattson]

Originally Posted by Velvet

So then you are saying the mill rates compensate for the market value of various categories of houses? You are right I am not sure how mill rates are determined. How does assessment relate to present market value then?

I am not an expert but hope some of these points will help. These points are the same for all Floridians.

1.Property taxes are paid in the arrears. You will not see a decrease (or increase) immediately.

2. The amount of tax you pay is determined by the purchase price of the home minus the homestead exemption if your home is a personal residence.

3. Once your tax is calculated the amount collected cannot be raised more than 3% each year.

4. It is possible for your neighbor to be paying much less in taxes. It depends on how much they paid for the home as well as how long they lived in the home.

Here is where my thoughts differ from other posters. I believe the millage rate is the same for all homes in a particular county and city. i.e. People living in Sumter county pay the same millage rate. People living in Sumter and within the city of Wildwood pay the same millage rate. The amount charged to a homeowner cannot exceed 3% each year even if the home increases more in value. Maybe, others know something I do not? I have lived here 22 years and the points I have mentioned have been followed by the County consistently and accurately. The CDD assessment seems to vary.

[Laker14]

Originally Posted by shaw8700@outlook.com

Definitely a used home, but I don’t know what will be available by that time.

Don't let a sense of urgency creep into your thinking. There is always enough turnover with our aging population in TV to give you some nice choices, if you are looking pre-owned.

We were fortunate in that we had friends who bought here in Largo, when it was brand-new, about a decade before we retired, and had us down a few times. Also we rented for 3 snowbird winters before we bought. This gave us ample opportunity to visit different areas and really helped us in our decision making.

Perhaps, if your home takes a while to sell, you can use the delay to make a few more visits and nail down more precisely areas you'd like to live, and like to avoid. It's a huge place, and not all of the areas are the same.

They all have something to offer, but they aren't all the same.
I think if you are patient you will be rewarded.
Best of luck!

[Bogie Shooter]

Originally Posted by shaw8700@outlook.com

I was blissfully unaware of TV, thinking that my home here in Rio Verde was the most beautiful place on earth. Then I saw a video on YouTube entitled “The Most Infamous Retirement Community” and I got excited. Then I saw more videos, like ones by Skip and Sue, The Newcomers, and others. Then my husband went with me to TV in July and we both fell in love with the landscaping, how clean it was, the birds and the manatees. He wasn’t convinced he would like it, because of the number of people, but everything else he loved. Now both of us are chomping at the bit to move.

This is a very small community compared with TV, and as a result, especially in the summertime, there’s nothing to do here if you don’t golf. There’s a county park close by so my husband could go and ride his bike or hike but that’s all we do. It’s amazing to me that you can take your golf cart to get your nails done, go to the doctor, go to so many restaurants, shopping, we even to a hardware store when we were out there!

Now if the snowbirds will just buy my home!

Glad you are excited about The Villages. And wish you well in your search of a home here.
You mention the manatees, yes they are fun to see……if you travel to the west coast…but not in TV.