[Rose Ann Vinci Igoe]

Originally Posted by Tchrep

I am retired, and I am a former resident of Florida. Three years ago I left Florida and I am renting in NY. I have a NY driver’s license and my vehicles are registered in NY. Subsequently I purchased a home in The Villages and listed it as my secondary residence. I have recently heard about how my taxes can be raised “indiscriminately” unless I become a resident. I am now considering making Florida my permanent home again with long visits to NY from time to time. Does anyone foresee a problem with NY?

https://www.kiplinger.com/article/ta...for-taxes.html

this should answer all your questions....

[msilagy]

If you bring liberal politics to the wonderful state of Florida.....that's a problem!

[KRMACK55]

Originally Posted by Tchrep

I am retired, and I am a former resident of Florida. Three years ago I left Florida and I am renting in NY. I have a NY driver’s license and my vehicles are registered in NY. Subsequently I purchased a home in The Villages and listed it as my secondary residence. I have recently heard about how my taxes can be raised “indiscriminately” unless I become a resident. I am now considering making Florida my permanent home again with long visits to NY from time to time. Does anyone foresee a problem with NY?

Yea just the people

[CFrance]

Several people have suggested keeping detailed records of your whereabouts. How would you go about documenting to NY where you were on any particular day? We had to jump through hoops to prove to the state of Michigan and city of Muskegon that our son was not living and working in Michigan but just using us as a US mailing address while living and working in Australia. It finally took showing up at tax offices and throwing everything we had at them that he wasn't in Michigan. None of it was really "proof," but thankfully they accepted it. It doesn't sound like NY would be so accommodating.

[Ben Franklin]

Originally Posted by Hiltongrizz11

The 6 months and a day rule is for income tax purposes not for resident purposes there's a difference.

For New York state taxes? There is no time frame for Florida. If your primary home is registered in Florida, then that's your primary home for federal taxes.

[Babubhat]

Originally Posted by CFrance

Several people have suggested keeping detailed records of your whereabouts. How would you go about documenting to NY where you were on any particular day? We had to jump through hoops to prove to the state of Michigan and city of Muskegon that our son was not living and working in Michigan but just using us as a US mailing address while living and working in Australia. It finally took showing up at tax offices and throwing everything we had at them that he wasn't in Michigan. None of it was really "proof," but thankfully they accepted it. It doesn't sound like NY would be so accommodating.

There are 2 residency tests in NY. See the attached link for a synopsis of the Ny audit process. You can also download the NY audit manual online.

What To Expect In A Residency Audit | New York Residency Audit Guide: Hodgson Russ LLP

[ronda]

Originally Posted by Ben Franklin

Don't know anything about NY taxes, but if your home isn't homesteaded in NY, then you can homestead here in Florida, but you missed this years homestead exemption, as I believe you must have owned the property on January 1st and filed by the end of March. All you need to do is register to vote and and have a FL driving license and then apply for a homestead.
I know this will come as a shock to many, but you don't have to live here any amount of time. The 6 months and a day rumor is a falsehood. Source: The man who was responsible for getting Homesteading passed, Ken Wilkinson

The 6 months and a day rule applies to avoiding income taxes.

[Pballer]

Originally Posted by OrangeBlossomBaby

No, your taxes don't get raised "indiscriminately." There's a thing called Homesteading.

Basically here's how it works:

You buy a home, you get assessed, the tax is $xxxxxx/year.

BUT - you apply for homesteading by the deadline. That means you are using that specific home as your primary residence for a minimum of 6 months and 1 day every year.

When you do that, you get a DISCOUNTED property tax.

So it's not that non-homesteaders pay more, it's rather that homesteaders pay less. It's a matter of perspective.

This is part of how Florida can get by without income tax. The property taxes for the state are somewhat high, UNLESS you live in the state most of the year.

There are also rules about owning multiple properties in Florida that affect homesteading. You'd have to look that up though, I only know the rules exist, and don't know what the rules are.

Sorry, I have to disagree. When it comes to property taxes, Florida treats non-residents as cash cows; that's how they keep taxes low for residents. A couple of years ago, after several years the Sumter County Property Appraiser finally re-appraised the market values of all of the houses in The Villages. Many properties had their market values raised by 15% or more. There are 2 values to be aware of when it come to property taxes: market value and assessed value. The millage rate is applied to the assessed value less the homestead exemption. For non-Florida residents, the assessed value is always equal to the appraised market value. However, there is a law that for Florida residents only, the assessed value can only increase per year by the lesser of the consumer price index or 3%. As a result, most of the Florida residents who have been living in The Villages for a while have assessed values that are tens of thousands or even hundreds of thousands of dollars less than their market values. Non-residents immediately see an increase in appraised market value reflected in assessed value; for residents it can take years, decades, or never for the assessed value to catch up to market value. As a double whammy, the county seems to update market values every few years rather than every year - in a rising housing market this helps to insure the assessed values will never catch up to market values for Florida residents.

With the crazy jump in house prices in The Villages recently, non-Florida residents are in for a rude awakening with regard to property taxes the next time the house market values are updated by the counties; Florida residents on the other hand don't have much to fear.

Don't take my word for it though. Go to the Sumter County Property Appraiser website Record Search : Sumter County Property Appraiser and search for your property assessed value vs those of your neighbors and see how non-Florida residents are treated with regard to property taxes; only a fraction is attributable to the homestead exemption.

[davem4616]

Originally Posted by Tchrep

Does anyone foresee a problem with NY?

nah, the Yankees have too many in the loss column to give the BosSox any problems this year

[Flgagg]

I bought a home in The Villages and it is my primary (and only home) in March. Is there a deadline when I need to file homestead exception? I have a FL drivers license now and FL tag on my vehicle

[Ben Franklin]

Originally Posted by Flgagg

I bought a home in The Villages and it is my primary (and only home) in March. Is there a deadline when I need to file homestead exception? I have a FL drivers license now and FL tag on my vehicle

You must have owned the house by January 1st and then file before March 1 for the year you want the exemption to start.

Sumter County Property Appraiser - Joey Hooten - Bushnell, Florida - 352-569-6800

[Seamus6]

Originally Posted by Tchrep

I am retired, and I am a former resident of Florida. Three years ago I left Florida and I am renting in NY. I have a NY driver’s license and my vehicles are registered in NY. Subsequently I purchased a home in The Villages and listed it as my secondary residence. I have recently heard about how my taxes can be raised “indiscriminately” unless I become a resident. I am now considering making Florida my permanent home again with long visits to NY from time to time. Does anyone foresee a problem with NY?

Wait...
Someone lived in Florida and Moved to New York???

[Stu from NYC]

Originally Posted by Seamus6

Wait...
Someone lived in Florida and Moved to New York???

Who would have thought?

[ronda]

Originally Posted by Ben Franklin

For New York state taxes? There is no time frame for Florida. If your primary home is registered in Florida, then that's your primary home for federal taxes.

Yes, State taxes.

I don't think there are any differences in the Federal tax rules based on which state you live. Of course you can deduct state and local taxes upto the SALT tax deduction limit, but that rule doesn't change based upon where you live. It's based on whether you pay the SALT taxes or not.

[ronda]

Originally Posted by Pballer

Sorry, I have to disagree. When it comes to property taxes, Florida treats non-residents as cash cows; that's how they keep taxes low for residents. A couple of years ago, after several years the Sumter County Property Appraiser finally re-appraised the market values of all of the houses in The Villages. Many properties had their market values raised by 15% or more. There are 2 values to be aware of when it come to property taxes: market value and assessed value. The millage rate is applied to the assessed value less the homestead exemption. For non-Florida residents, the assessed value is always equal to the appraised market value. However, there is a law that for Florida residents only, the assessed value can only increase per year by the lesser of the consumer price index or 3%. As a result, most of the Florida residents who have been living in The Villages for a while have assessed values that are tens of thousands or even hundreds of thousands of dollars less than their market values. Non-residents immediately see an increase in appraised market value reflected in assessed value; for residents it can take years, decades, or never for the assessed value to catch up to market value. As a double whammy, the county seems to update market values every few years rather than every year - in a rising housing market this helps to insure the assessed values will never catch up to market values for Florida residents.

With the crazy jump in house prices in The Villages recently, non-Florida residents are in for a rude awakening with regard to property taxes the next time the house market values are updated by the counties; Florida residents on the other hand don't have much to fear.

Don't take my word for it though. Go to the Sumter County Property Appraiser website Record Search : Sumter County Property Appraiser and search for your property assessed value vs those of your neighbors and see how non-Florida residents are treated with regard to property taxes; only a fraction is attributable to the homestead exemption.

Is this 3%/yr assessed value limit for FLA residents in addition to the Homestead exemption? See Below. So if i become a FLA residents I get $50K reduction/exemption day 1?

Homestead exemption provides a tax exemption up to $50,000 for persons who are permanent residents of the State of Florida, who hold legal or equitable title to the real property, and who occupy the property as their permanent residence. The first $25,000 applies to all property taxes, including school district taxes.