PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

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  #1  
Old 09-14-2007, 01:42 PM
FireOnWindCSR FireOnWindCSR is offline
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Default PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

I'm sure death and taxes are a sensitive subject anywhere. I purchased my Chula Vista home 7/2006. I got my tax bill about 30 days ago and it has gone up over 150%. I realize that there is an incredible amount of Florida tax laws that I need to become familiar with now. Public tax records on the street I live overwhelmingly reflect 3/4 of my neighbors with $1300 or less bills. I don't understand the estreme disparity which seems to be prevelant throughout "all of The Villages". Can someone shed some property tax light for me? I'm just trying to understand how neighbors on either side of me, with "like" homes are being assessed thousands of dollars less than me. Is this about appeals? Is this about scrutiny of appraissers, tax assessors? Help !!! Thanks, Chaz
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  #2  
Old 09-14-2007, 01:47 PM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

Don't know if this has anything to do with it, but I remember closing in '05 and for that year I was paying tax on the undeveloped land. It went to the normal tax in '06. Perhaps this applies to you?

I too don't get the disparity between neighbors on my street either. I understand the exemption, and can see some have it and some don't. But some people seem to be taxed much lower still.

Good luck figuring it out.
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Old 09-14-2007, 03:45 PM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

The tax you pay when you buy the home is based on the purchase price. Homes are not reassessed on a regular basis. They apply a cap on the level of increase you experience year to year (3%) but that's it. That's why you'll see a great disparity between like kind properties. The home that was bought 9 years ago for 150K is being taxed on that amount plus the small yearly increase even though it's maybe now worth 350K. You come along and buy it for 350K and your taxes will be based on that number and will be an awful lot higher than the original owner was paying. I don't understand how they get away with that. By the way, it has nothing to do with the Villages, it's all homes.
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  #4  
Old 09-14-2007, 06:33 PM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

JJDEEs is right.
Its Florida law. Its called "save our homes act".

Theres a statewide referendum in January to repeal this. What
I assume is that if it passes your exemption will double,
less money for the new buyer.
If you already own you will have the choice of going to the
super exemption or staying with the "save our homes"(3%). Annual property increase.

The big problem, (PEOPLE COMPLAINING) the last time I looked is that under the "SUPER EXEMPTION"
theres no cap on the appraisal. If it passes, all new buyers will have to be under the SUPER.

This doesn't apply to snowbirds, you have to be a resident.
This site can answer alot of questions.
http://www.sjcpa.us/SuperEXquestions.htm
  #5  
Old 09-14-2007, 08:22 PM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

To FireonWindCSR - If you bought the place in 2006 and it is your primary residence, you should have applied for the Homestead Exemption in January of 2007. It saves you $25,000 on the assessed value. Also, does your home still carry a bond? The bond is paid as part of the property taxes. Yours might be higher because your neighbors paid off their bond and you didn't.
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  #6  
Old 09-14-2007, 09:30 PM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

Have a friend here in Tall Trees whose value went up over $50k they called the tax assessors office and found out there was an error in their assessment. Before I pay a bill, I would verify that the assessment was done correctly.
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  #7  
Old 09-14-2007, 10:45 PM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

We just received from Sumter Co Taxing Authority a Notice of Proposed Property Taxes.

It shows one amount under "Your taxes this year if proposed budget change is made", and a lesser amount under "Your taxes this year if no budget change is made". Apparently there were public hearings on Sept. 10
in Bushnell, Sept 18 in Bushnell, and Sept 11 in Tampa which we could have attended. According to this Statement, the taxable Value of our property has gone up $37,000 from last year to this year (which is strange since prices have declined in TV). Have no idea what it all means.
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Old 09-15-2007, 10:15 AM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

I'd contest the increase. There's no basis for it.
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  #9  
Old 09-15-2007, 12:20 PM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

There have been many errors in the proposed tax bills. You really need to contest it. My friends did and found out it was a $40k error in their favor!
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  #10  
Old 09-28-2007, 11:51 PM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

Quote:
Originally Posted by Frangyomory
Have a friend here in Tall Trees whose value went up over $50k they called the tax assessors office and found out there was an error in their assessment. Before I pay a bill, I would verify that the assessment was done correctly.
Thank you for your input. I will be paying the tax man a visit on Friday. :joke:
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  #11  
Old 10-14-2007, 02:09 AM
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Default Re: PROPERTY TAXES NEARLY TRIPLED AFTER 1 YEAR

Thank you for this valuable information.

Quote:
Originally Posted by codman
JJDEEs is right.
Its Florida law. Its called "save our homes act".

Theres a statewide referendum in January to repeal this. What
I assume is that if it passes your exemption will double,
less money for the new buyer.
If you already own you will have the choice of going to the
super exemption or staying with the "save our homes"(3%). Annual property increase.

The big problem, (PEOPLE COMPLAINING) the last time I looked is that under the "SUPER EXEMPTION"
theres no cap on the appraisal. If it passes, all new buyers will have to be under the SUPER.

This doesn't apply to snowbirds, you have to be a resident.
This site can answer alot of questions.
http://www.sjcpa.us/SuperEXquestions.htm
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