[Schaumburger]

In going to a few open houses while I've been down here, I've been told various figures to estimate the annual property tax -- usually between 1.5% and 2% of the sale price of the house, depending on if the bond is paid off or not (2% if there is a bond balance, 1.5% if the bond is paid off, or if the house is located in Lake County where there was no bond on the houses). I was also told by a TV sales agent that an owner's annual property tax bill will not increase from what the owner paid when he/she/they originally purchased the house, assuming they don't change from full time resident to part time resident or vice versa. So if I buy a house in TV tomorrow, and my property tax bill is $3,000 annually at the time of purchase, that $3,000 will be the figure I pay annually for however long I own the house, assuming I don't change from full time resident (homestead exemption) to part time resident (no homestead exemption) or vice versa. Then when I go to sell the house in whatever number of years down the road, the next owner's annual property tax bill will be XX percent of whatever the sale price is.

Can someone who has owned in TV for some time confirm that? I have been in my townhouse in suburban Chicago since 1998, and my property taxes have just about doubled in those 13 years, so I am amazed that someone who bought a house in TV say 13 years ago is paying the same amount in annual property taxes as they did in 1998, assuming they have not changed from full time resident to part time resident or vice versa (I'm referring strictly to property taxes, not the $135 per month amenity fee).

Annual bond maintenance for Sumter or Marion County (not the bond itself): How much does this go up per year? What can someone in a patio villa or ranch expect to pay for their annual bond maintenance fee, or does that vary depending on which Village the house is located in?

[Mikeod]

That doesn't sound right to me about the property tax. I live in Sumter County and each year the county commissioners set the millage rate for the taxes. So far, it has either not changed or gone down a little. I think this is due to the growth of TV expanding the tax base. I don't expect my tax bill to remain constant for the rest of my life.

The district maintenance fee, because it relates to the common areas of each district only, is, I believe, a simple matter of the expenses divided by the number of units in the district. I don't believe it matter whether the home is a villa, cottage, designer, or premier. Everyone pays the same.

[Bill-n-Brillo]

Originally Posted by Schaumburger

...... I was also told by a TV sales agent that an owner's annual property tax bill will not increase from what the owner paid when he/she/they originally purchased the house, assuming they don't change from full time resident to part time resident or vice versa. So if I buy a house in TV tomorrow, and my property tax bill is $3,000 annually at the time of purchase, that $3,000 will be the figure I pay annually for however long I own the house, assuming I don't change from full time resident (homestead exemption) to part time resident (no homestead exemption) or vice versa. Then when I go to sell the house in whatever number of years down the road, the next owner's annual property tax bill will be XX percent of whatever the sale price is.
.....

To address at least part of your post: The statement the sales agent made is incorrect. It might be worth you circling back around with him/her to follow up further for clarification of their points.

Here's some info that addresses a situation where assessment increases can be capped:

http://www.sumterpa.com/AMENDMENT_10.asp

Also check some of the other links at the left of that web site. Valuable info to be had!

Hope that's of some help!

Bill