Talk of The Villages Florida

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-   The Villages, Florida, Non Villages Discussion (https://www.talkofthevillages.com/forums/villages-florida-non-villages-discussion-93/)
-   -   How much is the homestead exemption worth? (https://www.talkofthevillages.com/forums/villages-florida-non-villages-discussion-93/how-much-homestead-exemption-worth-359245/)

Bill14564 06-08-2025 08:58 AM

Quote:

Originally Posted by CoachKandSportsguy (Post 2437523)
Start with a $350,000 house:
Annual assessed increase 7% (ours) without SOH exclusion
Annual assessed increase 3% with SOH exclusion.
$50,000 deduction on assessed value with SOH
1.1% property tax rate (median estimate)

Calculation is (Start Value *1.07^(YearNbr) - StartValue * 1.03^(YearNbr)-exclusion) * propertytaxrate

Savings differential yearly with and without SOH exclusion:
Year Savings
1 $700
2 $873
3 $1,059
4 $1,263
5 $1,487
6 $1,730
7 $1,997
8 $2,288
9 $2,605
10 $2,949

Yes, there is value in the SOH benefit. That still is not what the OP asked.

Does the table show actual savings with your home or simply calculated from your 7%/3%/10%? My actual values are different (though the averages might work out the same) I only have data going back five years to when my home values began to reflect my purchase of the home (before that the values were calculated against the previous owner).

petsetc 06-08-2025 09:02 AM

Quote:

Originally Posted by Ruger2506 (Post 2437391)
The only fair taxes are sale taxes. I can decide if I want to avoid paying tax by not buying an item, by making my own, by refurbishing a used item, etc. If I am OK with paying taxes and want to pay, I buy.

I content this statement is exactly the oppose of the truth. Sales tax is a regressive tax that shifts the burden to the poor (less well off) since they spend even penny to get by, where as the rich have more income than they require to live and can save/invest/travel (spending their money outside FL), etc.

Quote:

Originally Posted by Ruger2506 (Post 2437391)
And here in The Villages the problem is 10X worse. We get raped by the county AND The Villages for fire. Pay twice and won't ever use one. I pay for a school system I'll never use as my boys go to the charter school.

You might want to check the budgets and see if fire/EMTs aren't different depending on you fire district. And;

I'm not doing the research, but as I recall, The Villages charter school does receive some funding/rent from the county/state.

Sgt Ed 06-08-2025 09:21 AM

Quote:

Originally Posted by Pugchief (Post 2437387)
How do you figure? Do homestead residents not use the services that property taxes support? If anything, you should only have to pay pro-rata taxes for the months you are actually in FL (plus months property is rented out).

Should people who don't use the toll road pay tolls if they are from out of state so that FL residents get a break? LOL, ridiculous argument.

TOLL Roads that is a completely different scam.

Joe C. 06-08-2025 09:30 AM

Instead of property tax, how about a "head tax"? Anyone 18 years or older would pay a set rate levied by the state or county. Tax would be paid yearly up until the age of 70. What would be fairer than everyone paying the same amount? And don't say "what if they can't afford it due to less income" ....because if a head tax replaces property taxes, then rental expenses should drop (theoretically). Both homeowners and renters would benefit.

Bill14564 06-08-2025 09:30 AM

Quote:

Originally Posted by petsetc (Post 2437554)
...
You might want to check the budgets and see if fire/EMTs aren't different depending on you fire district. And;

I'm not doing the research, but as I recall, The Villages charter school does receive some funding/rent from the county/state.

As of this year, fire protection has been moved out of the property tax lines and turned into a fee. The fee is different inside and outside the Villages. Ambulance service is still funded through property taxes.

The Villages Charter school is a public school and gets State and Local education funding just the same as every other school in Sumter County. However, the county does not own the charter school buildings or property so they pay to lease the buildings. At the same time, since the county doesn't own charter schools the county doesn't pay for maintenance of the charter schools.

Pugchief 06-08-2025 12:51 PM

Quote:

Originally Posted by Sgt Ed (Post 2437564)
TOLL Roads that is a completely different scam.

As much as I hate paying tolls, the reality is that tolling is the FAIREST form of taxation. You want to use the road? You pay the tax. If you want to avoid the tollway, you save the $ but it takes longer (and typically uses more gasoline). I do think tolls should be waived if traffic is not moving at 45mph or more, but that is just a fantasy of mine.

petsetc 06-08-2025 02:47 PM

Quote:

Originally Posted by Bill14564 (Post 2437569)
As of this year, fire protection has been moved out of the property tax lines and turned into a fee. The fee is different inside and outside the Villages. Ambulance service is still funded through property taxes.

The Villages Charter school is a public school and gets State and Local education funding just the same as every other school in Sumter County. However, the county does not own the charter school buildings or property so they pay to lease the buildings. At the same time, since the county doesn't own charter schools the county doesn't pay for maintenance of the charter schools.

Thank You !!!

Ruger2506 06-08-2025 03:03 PM

Quote:

Originally Posted by Pugchief (Post 2437612)
As much as I hate paying tolls, the reality is that tolling is the FAIREST form of taxation. You want to use the road? You pay the tax. If you want to avoid the tollway, you save the $ but it takes longer (and typically uses more gasoline). I do think tolls should be waived if traffic is not moving at 45mph or more, but that is just a fantasy of mine.

As I'm sure you've figured out by now I hate paying at all. But with that said, I like Toll Roads as I can choose. A number of places I go have a toll option and a non-toll option. Allows me to decide what I'm willing to pay that day for that trip. That's how all taxes should work.

The premise that taxation is theft is based on the fact we do not have a choice about paying taxes and there are significant consequences to us not holding up our "end of the bargain" in a contract to which we did not agree to be a part of. On top of that laws have made it all but impossible to survive without participating in this Social Contract. Many places make it illegal to collect rain water (not sure how they can do that). Can't live off the land outside of the social contract as you have property taxes. Can't live off public land as you need permits and hunting and fishing licenses. Can't build ON YOUR OWN LAND (if you did own it) without permits and permission. Basically being born locks you into a social contract you did not agree to. Yet you cannot legally get into a contract until you are 18. Interesting dynamic.

ton80 06-08-2025 03:09 PM

OP's Post #30 Clarifies Question About Where to Claim Residence
 
Quote:

Originally Posted by Bill14564 (Post 2437470)
Please reread the original post - the OP’s question was very specific and is not answered by SOH information.

Bill and EDJ (OP),
The real question was wider than Homestead Exclusion only, but was not stated. See Response #30 by EDJ where he admitted he did not know about SOH benefits and he was trying to decide where to establish residency.

My responses and other responders were aimed at answering the wider question about where to declare residency.

Once you apply for and get approval for the Homestead Exclusion, you automatically get the SOH benefits. As you later point this out, the Sumter County Property Appraisers Office shows how this worked for you in the past. The SOH benefit is not fixed but the limit on appraisal increase is fixed at 3% per year. In my case the savings in taxable value for 2025 Property tax is more than 300,000. We have owned the home for 9 years.....and I still get an additional 50K Homestead exclusion.

I have not gone back and calculated the savings for each year. It is sizable and more than the effect of the Homestead Exclusion.

The task now for EDJ is to compare what each state may offer the home owner to declare residency in that state. Here are a few considerations based on a quick look at Tennessee Tax situation a while back.
1.Tenn. and Fla both have no state income tax.
2. Tenn. offers no Homestead Exclusion to reduce taxable value but taxes residences at 25% of the assessed value. I believe this is the same for both Resident and non Resident Owners. Qualifying as Florida residents seems better at first glance once you decide to have two homes.
3. I did not look any further.

Good Luck!

HappyTraveler 06-08-2025 05:31 PM

Quote:

Originally Posted by Pugchief (Post 2437612)
.....the reality is that tolling is the FAIREST form of taxation. You want to use the road? You pay the tax.

This is accurate from a very relevant standpoint...that is, that tourism is the highest grossing industry in Florida.

If all of those tourists weren't also sharing in the cost of the 734 miles of toll roads in this state it would be a disproportionate tax on residents - many of whom probably rarely use them. FYI, there were 143 million tourists in FL in 2024.

CybrSage 06-09-2025 06:56 AM

Quote:

Originally Posted by Ruger2506 (Post 2437391)
Well lets get this straight right from the get go. All property taxes are theft. They are extortion.

Theft is an unlawful taking. Taxes are lawful. Therefore, taxes are not theft.
The 10th Amendment to the US Constitution gives the States the power to tax. The State Constitutions give the counties, etc, the power to tax.

All that said, feel free to move to where there are no personal and property taxes. Bahrain, Monaco, and Oman do not have personal taxes and do not have property taxes. Which one will you move to? Happiness can be yours. :)

CybrSage 06-09-2025 07:00 AM

Quote:

Originally Posted by Pugchief (Post 2437412)
Agree.

Theft is an unlawful taking. State taxes are made lawful by the 10th amendment to the US Constitution and the various State Constitutionfederal taxes are made legal by the
Taxes are therefore not theft.
The 16th Amendment made federal taxes legal.

CybrSage 06-09-2025 07:10 AM

Quote:

Originally Posted by petsetc (Post 2437554)
I content this statement is exactly the oppose of the truth. Sales tax is a regressive tax that shifts the burden to the poor (less well off) since they spend even penny to get by, where as the rich have more income than they require to live and can save/invest/travel (spending their money outside FL), etc.

It is the exact opposite. A $100,000 car has $10,000 tax bill at a 10% sales tax rate. A $10,000 car only has a $1,000 tax bill

According to you, the guy who paid $9,000 less in taxes is paying more in taxes. Yes, that is as silly as it sounds when written plainly.

crash 06-09-2025 07:11 AM

Quote:

Originally Posted by Ruger2506 (Post 2437318)
Not enough. Come on DeSantis! Let’s kill property taxes.

The worst idea ever. It would put all local funding in the hands of the state to save $350. One city ****es off the governor he cuts funding to force them to toe the line.

justjim 06-09-2025 11:14 AM

Quote:

Originally Posted by Ruger2506 (Post 2437318)
Not enough. Come on DeSantis! Let’s kill property taxes.

How will the local taxing entities be supported if you do away with property taxes? Will never happen IMHO.


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