[G.R.I.T.S.]

Jasmine on Blythewood Loop listed yesterday.

[G.R.I.T.S.]

Originally Posted by pablo cruze

Demand is increasing a lot.
Supply in increasing a little.
Driving more developments just outside our bubble. Wildwood is building up fast.

However these higher sales prices should help reduce the tax burden for us that remain in our humble abodes.

I'm in Sumter, so assuming the land baron developer of the villages doesn't succeed with the deceitful plan to impose increased tax burden to existing homeowners for future development (impact fees), shouldn't I assume that my tax bill will go down?

Let's assume the population increases by 3701 people this year....that's just over 2.6%. Then let's assume that costs to run the county go up by 7% this year (LGB affect).
There aren't many children vs population so funding of schools shouldn't increase too much..
So maybe the county costs go up by 8.5%. Maybe less since they are cost cutting (Village annex closed).

Each homeowner burden is based on the assessed value of their home (real value is determined at a sale / assessed value increases are capped / but can be reduced during downturns by the action of the county assessor)
Since 1995 the assess value can increase no more than the CPI or 3% whichever is lower, assuming no major upgrades.

Now...due to the huge cost (value) increases for homes sold recently, the revenue to the county from the new homeowners will be substantially higher.
Seems intuitively obvious that my meager dwelling should bear a lesser burden thanks to the influx of the increased revenue.

https://floridarevenue.com/property/Documents/pt107.pdf

County Millage Rate Information | Sumter County, FL - Official Website

sumter county population increase 2020 to 2021 - Google Search

http://https://www.**************.co...cent-tax-hike/

Yes, success sucks…UNLESS it’s you.🙄

[Nucky]

Originally Posted by Bay Kid

Come on man, it is all funny money. I just sold a 3 year old car to the DEALER for $4,000 more than my out the door price.

Is the profit taxable?

[dewilson58]

Originally Posted by Nucky

Is the profit taxable?

If the car was used for business and depreciated for tax purposes.

[dewilson58]

Originally Posted by Luggage

Life is not perfect in The villages

Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.

[Bilyclub]

Originally Posted by dewilson58

Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.

Yes Mr Wilson, or is it Wilson W Wilson Jr. or Wilson the volleyball ? I'm going with the volleyball.

[rsmurano]

Have you been south of 44 in the last 2 years? Buyers aren’t dwindling. TV had a banner sales year last year and if you see the opening days of new villages, 80% of the homes are already sold before the village opens. Until the migration from NY, NJ, California, and other states stops coming to Florida, we will keep seeing these prices increase.

[MDLNB]

Wait for the bubble to burst and you should see better prices. Can't promise that, but this inflation can't last more than three more years. Then, EVERYTHING should get back to normal. Maybe then home prices will drop back to reasonable prices. But, as long as there are those that will pay the price.......... Hopefully, this time folks will be more responsible and not walk away from their obligations once this bubble bursts and mortgages are under water again.

[Bay Kid]

Originally Posted by Nucky

Is the profit taxable?

Sure is.... I had it in a company name, so I'll be taxed on the profit and depreciation. I'm the money will be put to good use?

[Babubhat]

Housing still less than the Coasts. Lesser taxation, more freedom, better weather. Pretty simple equation

[OhioBuckeye]

There’s a saying, If you don’t like where you are, move. You’re not a tree!

[OhioBuckeye]

Originally Posted by G.R.I.T.S.

Yes, success sucks…UNLESS it’s you.🙄

If you don’t like it where you are, move, you’re not a tree!

[Queenie504]

So, what's your point? We can all see prices are rising.

[Djean1981]

I feel bad for the current buyers. The homes are very overpriced
because of current circumstances. Most are nice but standard/modest homes on a micro lot in very dense neighborhoods with very narrow streets. Many, bought here because of the lifestyle, not specifically, the house (our cottage house is very nice, but we paid far less for it 15 months ago). Prices are high because of current supply shortages, many people flocking to Florida, etc. If/when the prices fall, some may be very upsidedown on their mortgage. But, maybe a lot of people are paying cash..?

[jrref]

Just don't forget with the pandemic everything has changed. There are many who can now work from home and instead of living in the expensive NE or cold areas of the country they can live here in Florida. I don't expect demand and pricing to decrease anytime soon but i do expect a leveling off at some point.