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Which is the Best Village in The Villages, Florida? Part 5

By
Real Estate Agent with TOUCHSTONE REAL ESTATE SL3537832

The last article in this series I am covering “Cost of Ownership in The Villages, Florida”.  Besides weather, activities, social life another factor is Florida doesn’t have a state income tax which is a driving factor for many.  Florida also cuts us a break on property taxes if you Homestead which means your principal residents you get a $50,000 reduction in appraised value.  A $400,000 home Homesteaded is about $2,200 annual property tax.  There are a few other taxes like Fire Tax which is $124 a year, but no school tax in The Villages.

I don’t want to get into the weeds about Community Development District or CDD we call them.  Short and simple, bonds are sold for infrastructure and when you buy a new home the bond currently you are responsible for can be over $50,000.  You can pay it off or finance it for 20 or 30 years at an interest rate that is available at the time the home was bought.  The bond is transferred if property is sold, many homes in The Villages the bond is paid if not an amount is added to your property taxes.  You have a bond maintenance fee which can be a few hundred dollars a year to pay for upkeep, the gates and other things.

County tax is close and tell people not worth deciding a home based on property tax.  Sumter is .94, Lake .95 and Marion .99, some people think their power bill is lower depending of service which again cuts through the counties and should not be a deciding factor.  The Villages is served by two different power companies, SECO which is a co-op has a kWh of $.1223 and Duke Energy has a rate of $.1644 per kWh.  In certain areas one side of the street can be Duke the other side SECO, neither electric company services an entire county in The Villages.

Dick Betts, REALTOR®

The Betts Team

Touchstone Real Estate

The Villages, Florida

717-860-3107 cell

Dick@DickBetts.com

www.DickBetts.com

#realestate #realtor #thevillagesflorida #homesincentralfl #thebettsteam #dickbettsrealtor #dickbetts #thevillages

Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

Very useful information to share about The Villages. Many don't realize the size and complexity of a community that sits in several counties. 

 

Thanks for sharing!

May 18, 2024 04:05 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Dick. The details are often in the weeds out of sight of the typical buyer. Having that knowledge makes one a true professional in a field of amateurs. Enjoy your day.

May 18, 2024 04:25 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

More very useful information about living in the Villages!

May 18, 2024 05:16 AM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Dick Betts if I was to purchase a property in the Villages, I would be relying on you to help me choose the best location for me.

May 18, 2024 04:55 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

A break on property taxes is always nice!  We pay a lot of taxes and I wouldn't feel so bad about it if it were managed properly, haha.

May 19, 2024 06:20 AM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

You have provided excellent information for a buyer who is weighing a purchase in The Villages.

May 23, 2024 08:12 AM