Tell me why I shouldn't move to Florida (Venice, Hudson: insurance, credit card)

[Old Gal]

This is interesting. I must check this out further. Your exemptions are somewhat different than the ones in Texas. It doesn't appear that for a homestead that the property taxes are frozen you just have additional exemptions for age, must be a permanent resident, amount of income limitations and value of property for 65 and over. I did read on another website that you must be a resident of Florida for 25 years??? After a quick review the 25 year residency doesn't appear to be in Sarasota County. Where is SoFlGal when you seriously need her?

[SoFLGal]

Originally Posted by Old Gal

This is interesting. I must check this out further. Your exemptions are somewhat different than the ones in Texas. It doesn't appear that for a homestead that the property taxes are frozen you just have additional exemptions for age, must be a permanent resident, amount of income limitations and value of property for 65 and over. I did read on another website that you must be a resident of Florida for 25 years??? After a quick review the 25 year residency doesn't appear to be in Sarasota County. Where is SoFlGal when you seriously need her?

What website was that? You have to be a resident for 25 years to get homestead? That's not correct.

The values are reviewed each year and will change with market conditions, the assessed value may be more or less than the actual value of the property. The tax rolls will also show "just market value" and "taxable value." An owner who has owned homesteaded property for a number of years will have a taxable value that can be much less than the "just market value." The tax will also vary by location of the property, the millage rate on a property in the city limits of Sarasota will be higher than a property located outside the city limits. The actual city limits of the city of Sarasota are quite small, and many properties with Sarasota mailing addresses are actually in unincorporated parts of the county. A Buyer takes over the taxes on the property and will get a new evaluation the next year. I've heard people figuring the tax rate to be somewhere around 1.5% of the purchase price of the home.

The greatest advantage of a homestead exemption is the cap - when you have your home homesteaded, you have a 3% cap on the tax. If you have a second home or an investment property, the tax goes up or down depending on what the market value is.

Property tax is based on the assessed value of the property and the millage rate. The millage rate for Sarasota county is around 13 mills. The millage rate is the rate of tax per thousand dollars of taxable value. To determine the ad Valorem taxes divide the taxable value by 1,000 and multiply the millage rate. For example, $100,000 in taxable value with a millage rate of 13 would generate $1300 in taxes. (100,000/1000 X 13)

There is non advalorem taxes which are based on just having a lot-everybody pays for example- for fire dept, solid waste, road and drainage is all included in that. The ad valorem taxes are based on the homes assessed value. You can't necessarily go on what the previous owner paid for taxes because if they had the home homesteaded, for example, for 10 years, they would get a substantial discount. Keep in mind that the state of FL does not have an income tax but the sales tax is 7%.

[Nancy in Nokomis]

Well - the reasons not to move here are; weather to hot in summer to some, I have been here 2 years and have not had trouble with heat, snakes or bugs so I am just lucky I guess. The people are warm and friendly but some are a little trashy - but I come from NJ so that doesn't bother me - LOL.

[Old Gal]

SoFLGal, are property taxes frozen when you hit 65 if you are a permanent resident or do you risk them going up if the real estate market explodes? The Texas state sales tax is 8.25%, (Texas has the same tax exemptions on state sales tax as Florida) just an fyi.

[Avalon08]

I don't know anything about the Venice area, but I moved to Bradenton over a year ago, having come here for vacation for 15 years when my Mom moved here. I came from a big East Coast city but I'd definitely say the crime is worse/weirder down here. And yes, there can be crappy areas right next to nice areas. Yes, good contractors are hard to find but not impossible. Yes, there are certainly a lot of trashy folks, but it's just a different type of trash than we had in the big city. Yes, you have to be more guarded down here, such as locking your car doors when you're pumping your gas, or being careful when you see someone approaching as it could be someone trying to hit you up for money.

That said, I love it. I'm close to one of the most beautiful islands I've ever seen (Anna Maria). I'm surrounded by turquoise water and palm trees. The sunsets over the Gulf are spectacular. I live amongst friendly retirees, many from the Midwest -- good people. Customer-service people are way friendlier, like when I walked into the Property Assessor's office today and the first thing the clerk said to me was, "I love your HAIR!!!". I'm close to the beautiful cosmopolitan city of Sarasota. And I'm not far from an ever bigger city, Tampa, in case of serious illness that could not be treated locally. The humidity actually feels kind of soothing to these old bones (and yes, I have back problems too). I did not find the summer unbearable. Yes, I have to be careful about mosquito bites because they just LOVE me, and I did have a little run-in with fire ants -- but I wasn't careful about where I was walking. I hardly put any miles on my car because everything is so close, including all types of fabulous restaurants. You do have to take into consideration all the extra traffic and people "in season", especially Spring Break, but that's how it is in any resort area.

I realize I haven't been here full-time for long, but I have spent a LOT of time here over the years so I feel qualified to give my input, as well as the fact my Mom loved it while she was here. I live in an over-55 condo but if you're buying an SLF, you'll have to do your due diligence about the neighbors and adjoining neighborhoods. There are many well-kept, beautiful developments around here that are reasonable and don't have pickup trucks on blocks on their lawn. Let me know if you hone it down to a specific area, but meanwhile, don't let the negativity completely sway your opinion.

[Harpaint]

You might consider checking out the Atlantic side. We have friends in Vero Beach who just love it and it isn't as crowded there.

[SoFLGal]

Originally Posted by Old Gal

SoFLGal, are property taxes frozen when you hit 65 if you are a permanent resident or do you risk them going up if the real estate market explodes? The Texas state sales tax is 8.25%, (Texas has the same tax exemptions on state sales tax as Florida) just an fyi.

No, they do not freeze. Sarasota has the senior exemption, which is income based.

[Old Gal]

Originally Posted by SoFLGal

No, they do not freeze. Sarasota has the senior exemption, which is income based.

Thank you. That sounds a lot more fair than what we have here.

[DianeC68]

The rules. The restrictions..... the people that have nothing better to do that be in your business. ( for the record I love it here)
My advice is to choose well, read up on any restrictions and choose wisely.
Venice is a lovely place for older people, lots of activity for older folks , people stay active and healthy.
We rented in Venice while we house hunted here. We are medical professionals with 3 girls. People opened their doors and stared when the girls went outside to bounce a ball!
That being said, there are plenty of areas with less restrictions and more freedom. If you don't mind being told when you can put up decorations or needing approval to plant some flowers then don't sweat it , you will love it here.

[Old Gal]

I don't think we will chose a place with a lot of restrictions. I do love the thought of being able to be more active all year and having more people closer to my age to socialize with. The more I read and hear about Venice the more I think it would be a great place to retire, not to mention I'm a little worn out with living in a large city and I think Venice would be a nice compromise and Sarasota is close enough if we decide we need a little "city life".