Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
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Realistically, how much is the $50,000 homestead exemption actually worth? Say you're in a $350,000 property. What would (approximately, of course) the annual property tax on homesteaded vs non-homesteaded property?
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Chino 1960's to 1976, Torrance, CA 1976-1983, 87-91, 94-98 / Frederick Co., MD 1983-1987/ Valencia, CA 1991-1994/ Brea, CA 1998-2002/ Dana Point, CA 2002-2019/ Knoxville, TN 2019-Current/ FL 2022-Current |
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#2
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In the new sections that are in Wildwood, it would be around $650 currently, based upon these rates:
4.89 Sumter 2.828 Schools State 2.27 Schools Local 2.8287 Wildwood 0.1909 Water 0.0272 Fire But there are other advantages to homestead exemptions as you it also there are limits that will show as deferred amounts and you can carry your values over to a new property. |
#3
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No cost to apply so unless you do not have a FL drivers license what is holding you back on saving some money?
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I will say the things that others are probably thinking but afraid to say. |
#4
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The homestead exemptions lowers the assessed valuation by $50K. The tax rate in Sumter county is around $3/1000. So the exemption should save about $150/year regardless of the value of your home. I am sure others with more knowledge than me can refine this estimate. edit...somebody with more knowledge than me already gave you a better answer. Last edited by jimhoward; 06-07-2025 at 09:51 AM. Reason: new info |
#5
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My home had a taxable value of $361,000 last year. I am in the non-incorporated portion of Sumter County (area with the lowest taxes)
The Homestead Exemption reduced my taxes by $382. EDIT: I didn't read the question correctly.... My home with exemption: $3,287 If I recalculate without the exemption: $3,669
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works. Confirmation bias is real; I can find any number of articles that say so. Victor, NY Randallstown, MD Yakima, WA Stevensville, MD Village of Hillsborough Last edited by Bill14564; 06-07-2025 at 11:09 AM. |
#6
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Not enough. Come on DeSantis! Let’s kill property taxes.
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#7
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This is probably the mechanism DeSantis will use.
He will only eliminate property taxes on residents (i.e. with the homestead exemption). Non residents will still pay JUST MY OPINION. |
#8
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I'm good with that. Stinks for my friends who have second non-homesteaded homes here. But it makes sense to remove to burden on FL residents and let the non-residents bare the burden.
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#9
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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. |
#10
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I'm sure all the businesses in Florida will appreciate having the tax burden fall upon their shoulders.
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#11
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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. 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. Roads can be paid for by gas taxes and tolls. Most other things sales tax. The fairest way is to allow the individual tax payer to determine if they want to pay. If they don't want to pay, they don't consume or drive in the example above. Property tax, I have little to no choice as I have to live somewhere and rent prices have property tax built into them. We all need shelter, property tax is extortion. I'm surprised how many fools are willing to simply hand over their wealth the all knowing and all powerful Oz. |
#12
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And Sales Taxes will go up.
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The further a society drifts from truth the more it will hate those who speak it. George Orwell. “Only truth and transparency can guarantee freedom”, John McCain |
#13
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It might make me change my residency, and spend more time on FLA, spending move on sales tax. |
#14
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__________________
Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works. Confirmation bias is real; I can find any number of articles that say so. Victor, NY Randallstown, MD Yakima, WA Stevensville, MD Village of Hillsborough |
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----------------- So we mostly agree on all your points above, but you ignored my assertion: Quote:
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