Why has LWR got so High Taxes? (Country Club, St. Augustine: real estate, HOA)

[shokwaverider]

I was looking at homes like mine in LWR, ~$800k - $900k range, Country Club Community, Lake views, concrete Block Home 3,300 sqft. etc. etc..... My house taxes are $5k a year. Equivalent homes in LWR are $12k+ a year!!!. That is NOT including the HOA and club memberships. I live in St. Augustine Florida walking distance from the Beach in St. Johns County.

What is so special about LWR that demands so high taxes?

[Concert D Major]

If you can afford $900,000, then you can afford $12,000. Since you have so much money.

[shokwaverider]

Originally Posted by Concert D Major

If you can afford $900,000, then you can afford $12,000. Since you have so much money.

That was NOT an Intelligent answer... Shhhhhhhhhhh...

[Sunshine Rules]

The millage rate for property taxes in Manatee county (where LWR County Club East and LWR County Club are located) runs 13.5210 per $100 of assessed value.

So let's say a $800,000 home has an assessed value for tax purposes of $700,000: The ad valorem portion of the tax bill would be $700k x .013521 = $9464.70 BEFORE adding in any non-ad valorem taxes or the CDD fees (community development district). I've seen CDD fees in those 2 country club communities run anywhere from $1300 to over $4000 a year, depending upon the particular neighborhood.

Which would explain why a property has a $12,000 tax bill, since the CDD fees are included in the property taxes.



Why is Lakewood Ranch so special?

LWR continually wins national awards for planned master communities. It's the 3rd best selling master planned community in America.

Buyers can choose housing from very modest condos to some of the most expensive luxury homes in the county.

Lakewood Ranch is the largest green certified master planned community in the U.S.

LWR was designed to offer lots of wooded areas for wildlife, lots of walking trails and bike lanes throughout, a number of community parks with recreational facilities.

LWR offers residents access to over 80 social clubs to meet and socialize through, clubs such as gardening, art, books, travel, history & more. The community sponsors events throughout the year as well, such as Music on Main Street, Halloween Boo Fest, Art at the Ranch, etc.

It offers commercial and retail options (over 1200 businesses are located within LWR), A rated schools, an award winning hospital, several golf courses, country club, fitness center, sports campus, polo, churches & more.

Heck, even their walking trails have won design awards.

I think you get the idea......

[d4g4m]

Are you taking into account that the taxes include the CDD fee?

[shokwaverider]

Originally Posted by d4g4m

Are you taking into account that the taxes include the CDD fee?

Yes. Still high for a property that is so far from the beach.

[bbronston]

Pick a property you consider comparable and go to the Manatee County Tax Collector website, taxcollector.com. Bring up the tax bill and compare it to yours. Compare the different taxing authorities and their millage rates. That will show you how the two locations compare.

If you want to compare tax dollars, you have to first find a property that has the same taxable value as yours (i.e. after adjustment for homestead, etc.)

[shokwaverider]

Originally Posted by LarryLawler

You are correct my friend. Between the actual assessed 'rate' and the awful CDD fees, it's PLAINLY overpriced by most metrics, and always has been. Additionally I would say that most homes within LWR and on the high-high end are at least 25-30% overpriced at this point. The market here has again gone up in a straight line, which is unsustainable, and history should teach buyers and residents that. We've seen this play/theater before in too many business cycles. I wouldn't touch a highend home within LWR given other viable choices that might meet your expectations. I'm not an agent selling property, I'm a financial analyst for several major firms.

My take too. R.E. Agents always try to put a positive spin on things (See one of the posts above), making a place sound like Shangri-La. Buyer Beware as usual. It is a shame how the Realtors take absolute advantage of Retirees moving from up North. They do it here too. For example buying a "stick" home vs Concrete block. They convince the punters from up North who know no better that they are a good investment, as they are a little cheaper ($100k in some cases for their equivalent CB). Then they find out that they are more prone to Termite damage and the insurance is 2 - 3 times a CB home. So much for ethics.....

[photoman_6]

i'm kinda glad you don't like the area. go look somewhere else

[Sunshine Rules]

Originally Posted by shokwaverider

My take too. R.E. Agents always try to put a positive spin on things (See one of the posts above), making a place sound like Shangri-La. Buyer Beware as usual. It is a shame how the Realtors take absolute advantage of Retirees moving from up North. They do it here too. For example buying a "stick" home vs Concrete block. They convince the punters from up North who know no better that they are a good investment, as they are a little cheaper ($100k in some cases for their equivalent CB). Then they find out that they are more prone to Termite damage and the insurance is 2 - 3 times a CB home. So much for ethics.....

FYI, the original poster was asking what makes Lakewood Ranch so special, which is why I responded with positives about Lakewood Ranch. If the OP had asked for the pros and cons of buying in LWR, my response would have been different.

Anyone who's been out on this forum for awhile knows that I don't always put a positive spin on things, I point out that Shangri-La does come with flaws and have been known to put out negative news about a community if the situation warrants it.

Sorry to hear your experience with real estate agents has been less than positive, but please don't paint us all with a broad brush.