[Altavia]

Toiur of the beautiful new sports facilities coming to completion at The Villages Charter High School

[https://youtu.be/lkLzvuHMtj0

[village dreamer]

the best that money can buy.......cant wait for the maintenance bills

[billethkid]

It would be nice if the advocates for the new facility would see fit to budget their teacher compensation as "modernized" and up to date as the new, wonderful, amazing facility.

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[Goldwingnut]

Originally Posted by village dreamer

the best that money can buy.......cant wait for the maintenance bills

You’ll not pay any of it, it will be paid the same as it always has been with the north end schools, the developer pays it all. They consider it just another part of the investment they make to get quality employees to come to work for the various companies involved with making The Villages.

[Papa_lecki]

Originally Posted by billethkid

It would be nice if the advocates for the new facility would see fit to budget their teacher compensation as "modernized" and up to date as the new, wonderful, amazing facility.

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Facilities are paid with debt; salaries are paid with the annual budget - apples and oranges.

[Altavia]

It's a beautifuly thought out community for families which will change the dynamic here in positive ways.

The buyers love it already and many more planning to join. I know of at least two people who plan to move their business here from up north once their existing lease expires.

Thousands of homes to be built there for hard working people in the area will add over a billion dollars to the property tax base so they will pay (maybe more than) their fair share of taxes.

[Bill14564]

Originally Posted by Altavia

It's a beautifuly thought out community for families which will change the dynamic here in positive ways.

The buyers love it already and many more planning to join. I know of at least two people who plan to move their business here from up north once their existing lease expires.

Thousands of homes to be built there for hard working people in the area will add over a billion dollars to the property tax base so they will pay (maybe more than) their fair share of taxes.

EDIT: The quoted post mentions property tax base and not property tax income. The calculations below are for tax income but that is not what was mentioned. As pointed out in a post below, 4,000 homes at $350K would at $1.4B to the property tax base.


------------------

Are you sure of the $1B number? At $2,000 per year in property tax for a $385K home:

$1,000,000,000 / $2,000 = 500,000 homes

If the $1B comes over time then:
500,000 homes / 20 = 25,000 homes

That seems like a lot of growth and some optimistic projections.

[Michael 61]

Originally Posted by Goldwingnut

You’ll not pay any of it, it will be paid the same as it always has been with the north end schools, the developer pays it all. They consider it just another part of the investment they make to get quality employees to come to work for the various companies involved with making The Villages.

I’m grateful to live in a retirement community that sees value in providing schools for the employees and families that serve us. I’m not aware of any other 55+ community that does so. This is so important that TV is able to attract and retain high caliber employees to serve us now, and as we continue our expansive growth.

[Bogie Shooter]

Originally Posted by Papa_lecki

Facilities are paid with debt; salaries are paid with the annual budget - apples and oranges.

Does this mean Don is wrong?

[Altavia]

Originally Posted by Bill14564

Are you sure of the $1B number? At $2,000 per year in property tax for a $385K home:

$1,000,000,000 / $2,000 = 500,000 homes

If the $1B comes over time then:
500,000 homes / 20 = 25,000 homes

That seems like a lot of growth and some optimistic projections.

LOL, the only thing I'm sure of is that I'm never sure of anything :-)


I said tax base.

4,000 homes @ $350K avg = $1.4 billion added to the tax base.

Make sense?

I'll let you do the math for the incremental tax revenue.

BTW - Who pays only $2K a year in property tax here?

These younger buyers likely will not qualify for any exemptions so may be paying more than their fair share compared to a home bought 10yrs ago.

[Bill14564]

Originally Posted by Altavia

LOL, the only thing I'm sure of is that I'm never sure of anything :-)


I said tax base.

4,000 homes @ $350K avg = $1.4 billion added to the tax base.

Make sense?

I'll let you do the math for the incremental tax revenue.

BTW - Who pays only $2K a year in property tax here?

These younger buyers likely will not qualify for any exemptions so may be paying more than their fair share compared to a home bought 10yrs ago.

Yep, I read that wrong. Tax base and your 4,000 homes makes sense (I will correct my post shortly)

The proposed property tax rate for Sumter County in 2023-2024 is 5.194 mils. A home with a taxable value of $385K will pay $2,000 in property taxes. (If the home will be in one of the incorporated areas (likely) then the effective rate and taxes paid will be higher. I had to start somewhere) Even without my exemptions I would have paid less than $2,000 in property tax last year.

Don't confuse property taxes with the bottom line on the annual bill. The bottom line includes Sumter County property taxes plus other taxes and fees including school taxes, maintenance fees, fire protection fees, bond payment for some, and a water management district fee.

[Goldwingnut]

Originally Posted by Bogie Shooter

Does this mean Don is wrong?

I thought I was wrong once, but I was mistaken.

[Altavia]

Originally Posted by Bill14564

Yep, I read that wrong. Tax base and your 4,000 homes makes sense (I will correct my post shortly)

The proposed property tax rate for Sumter County in 2023-2024 is 5.194 mils. A home with a taxable value of $385K will pay $2,000 in property taxes. (If the home will be in one of the incorporated areas (likely) then the effective rate and taxes paid will be higher. I had to start somewhere) Even without my exemptions I would have paid less than $2,000 in property tax last year.

Don't confuse property taxes with the bottom line on the annual bill. The bottom line includes Sumter County property taxes plus other taxes and fees including school taxes, maintenance fees, fire protection fees, bond payment for some, and a water management district fee.

Thanks, I was thinking total Ad Valorem Tax which for those who are not aware, is roughly double property tax.

[gbs317]

I took a ride through Middleton to look at the houses and schools. What came to my mind was I wanted to go back to school again, the place was beautiful.

[Papa_lecki]

Originally Posted by Bogie Shooter

Does this mean Don is wrong?

No, the developer is still paying for it.
But more than likely (just my guess), the developer is financing the construction of the buildings/facilities.
They are not borrowing money to pay for salaries, salaries are in the annual operating budget (that the developer is paying).

I also would guess, they put the schools into a different company, that the developer owns.