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Old 10-01-2008, 02:17 PM
 
Location: Venice Florida
1,380 posts, read 5,230,934 times
Reputation: 864

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Janet,
Property taxes are based on millage rates. Most if not all counties in Florida have online property appraisers websites where you can get information on the millage rates in each city/county entity.
Citrus county has a pdf of this years proposed tax rates or trim (truth in millage). Check the link.
Citrus county trim notice

Inverness has a millage of over 21 mills, so a house appraised at 100K would have property taxes of $2100. You will find that the more affluent counties have lower millage rates since the property values tend to be higher. The millage rate in Charlotte and Sarasota are under 14 mills this year.
Insurance rates will be a bit cheaper inland and if you stay out of a flood plane you won't need flood insurance. Newer construction will also help with your insurance rates.

When I left Baltimore, DC was the murder capital of the world. Lived in Denver Col. for a while when it was the rape capital of the U.S.
I've been in Southwest Florida for 15 years and have never felt unsafe walking around town, or leaving a restaurant late in the evening.

I can only think of one gotcha in the area around Inverness, and that's sink holes. I don't have any fist hand knowledge but I've talked with a few people that have horror stories...You may even have insurance exclusions. Just keep in on your list of things to ask about.
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Old 10-01-2008, 03:31 PM
 
Location: Sarasota, Florida
807 posts, read 2,820,561 times
Reputation: 701
I lived in Inverness for 5 years. From what you've described, it seems like a good fit for you. The people are great but unemployment is high. You'll have to travel for entertainment as previously mentioned. Citrus Hills is a nice area close to 'town' and the ever-present WalMart.
The annual Cooter-Fest is a real hoot...and the schools close for 1 week during the county fair so the 4H kids can display their livestock.
Don't let anyone convince you to buy a mobile home either. They're everywhere in Citrus County and a huge waste of money.
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Old 10-01-2008, 04:14 PM
 
Location: Baltimore
1,802 posts, read 7,273,102 times
Reputation: 1913
Quote:
Originally Posted by FLBob View Post
Janet,
Property taxes are based on millage rates. Most if not all counties in Florida have online property appraisers websites where you can get information on the millage rates in each city/county entity.
Citrus county has a pdf of this years proposed tax rates or trim (truth in millage). Check the link.
Citrus county trim notice

Inverness has a millage of over 21 mills, so a house appraised at 100K would have property taxes of $2100. You will find that the more affluent counties have lower millage rates since the property values tend to be higher. The millage rate in Charlotte and Sarasota are under 14 mills this year.
Insurance rates will be a bit cheaper inland and if you stay out of a flood plane you won't need flood insurance. Newer construction will also help with your insurance rates.

When I left Baltimore, DC was the murder capital of the world. Lived in Denver Col. for a while when it was the rape capital of the U.S.
I've been in Southwest Florida for 15 years and have never felt unsafe walking around town, or leaving a restaurant late in the evening.

I can only think of one gotcha in the area around Inverness, and that's sink holes. I don't have any fist hand knowledge but I've talked with a few people that have horror stories...You may even have insurance exclusions. Just keep in on your list of things to ask about.
As for the property taxes - is the $2100 estimate after you allow for the homestead exemption? If so, I agree that's a bit high. But still probably better than paying property taxes AND state income taxes.

And thanks for the info about the sink holes. I had heard about that being an issue in the Spring Hill area, but I hadn't heard of it in Inverness. I'll definitely have to check into that.
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Old 10-01-2008, 04:18 PM
 
Location: Baltimore
1,802 posts, read 7,273,102 times
Reputation: 1913
Quote:
Originally Posted by On-da-Beach View Post
I lived in Inverness for 5 years. From what you've described, it seems like a good fit for you. The people are great but unemployment is high. You'll have to travel for entertainment as previously mentioned. Citrus Hills is a nice area close to 'town' and the ever-present WalMart.
The annual Cooter-Fest is a real hoot...and the schools close for 1 week during the county fair so the 4H kids can display their livestock.
Don't let anyone convince you to buy a mobile home either. They're everywhere in Citrus County and a huge waste of money.
Thanks for the advice - I'm definitely steering clear from
mobile homes.

And I will have to check out the Cooter-Fest! If no other reason - just to tell my friends in Baltimore that I went to an event with a name like that!
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Old 10-02-2008, 09:30 AM
 
1,775 posts, read 7,334,109 times
Reputation: 782
they allow an exemption on the first $25,000 then the 3rd $25,000. in other words, you would be taxed for the value of $25,000 - $50,000 then again on the value over $100,000. so we're getting an exeption on $50,000 on our home. Our home taxes are only $197/year on a $100,000 home of course we've been there for 7 years so the rates can only go up a certain % each year. I'm guessing new ownership would be paying just over $1000.
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Old 10-03-2008, 07:34 AM
 
Location: Baltimore
1,802 posts, read 7,273,102 times
Reputation: 1913
Quote:
Originally Posted by daniellefort View Post
they allow an exemption on the first $25,000 then the 3rd $25,000. in other words, you would be taxed for the value of $25,000 - $50,000 then again on the value over $100,000. so we're getting an exeption on $50,000 on our home. Our home taxes are only $197/year on a $100,000 home of course we've been there for 7 years so the rates can only go up a certain % each year. I'm guessing new ownership would be paying just over $1000.
Hi Danielle:

I've still got my eye on your house. I'm surprised it hasn't sold yet - it's in a great location IMO and it appears to be competitively priced. As I said before, I'm just not quite at the point where I'm ready to buy. By the way, are you aware of any problems with sink holes in Inverness?

I'm assuming I'm going to have the same problem as you once I list my house - they definitely aren't moving that quickly, and with the current economic situation who knows how long before people start buying again. Anyway, thanks for the info, and good luck to you!

Janet
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Old 10-03-2008, 04:18 PM
 
1,775 posts, read 7,334,109 times
Reputation: 782
Quote:
Originally Posted by janetvj View Post
Hi Danielle:

I've still got my eye on your house. I'm surprised it hasn't sold yet - it's in a great location IMO and it appears to be competitively priced. As I said before, I'm just not quite at the point where I'm ready to buy. By the way, are you aware of any problems with sink holes in Inverness?

I'm assuming I'm going to have the same problem as you once I list my house - they definitely aren't moving that quickly, and with the current economic situation who knows how long before people start buying again. Anyway, thanks for the info, and good luck to you!

Janet

It is a great location but there are other homes in the neighborhood competing too. We have the biggest and most private lot in the neighborhood but also have one of the oldest homes too.

In the 7 years i lived in Inverness, we had 1 sink hole open up that i can remember and it was in the middle of the field and not very big. Of course, it can happen anywhere.

Springhill (also known by some as sinkhill) is where the most sinkholes have opened up in the past few years swallowing up homes and property. Kind of scary but for a while there, it seemed like there was a new one opening up every week and try getting your insurance to cover for that could be difficult.
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Old 02-24-2010, 03:34 PM
 
3 posts, read 14,471 times
Reputation: 10
My wife and I are looking at possibility of moving to Inverness from Western North Carolina. Mainly we are retiring and it looks affordable to us. Home prices here in the Asheville area 3 times as much.
We did live in Bradenton about 6 years ago but are looking at trying different location. Anyone from Inverness out there?
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Old 02-24-2010, 04:15 PM
 
3 posts, read 14,471 times
Reputation: 10
Janet did you ever end up moving to Inverness? My wife and I are considering a move there this year.
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Old 02-24-2010, 08:02 PM
 
Location: Baltimore
1,802 posts, read 7,273,102 times
Reputation: 1913
Quote:
Originally Posted by Trapshooter View Post
Janet did you ever end up moving to Inverness? My wife and I are considering a move there this year.
No...unfortunately I am still in Baltimore. And although I really loved Inverness, now I am torn between that area of Florida and a little farther south. My spouse and I visited the Sarasota area at the end of January and we were really intrigued by the affordability of the homes in Port Charlotte and North Port. Plus, I really loved being that close to the beaches. But I also love the small town old Florida feel of Inverness. It is a difficult choice; I'm not sure which I really prefer.

But if I needed an incentive to get moving then this winter was it. We have gotten over 80 inches of snow this year, which is really out of the ordinary, and I'm taking it as a sign that it's time for me to get out of Dodge! I am so ready for some warm weather.

Where are you currently living? Will you need to find work? This is the biggest hurdle. Although I am retired and have a decent pension, my spouse won't be able to collect a pension for another 6 years, and there just aren't any jobs available in Florida right now. We could probably make do on my pension, but it would be pretty tight, so right now we are kind of weighing our options.
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