Posts Tagged ‘ocala rertirement communities’
Ocala Property Taxes
Property taxes in Ocala, as in the rest of Florida, are pretty confusing. A lot has to do with the Save Our Homes initiative, also know in real estate as amendment 10. Save Our Homes was supposed to keep seniors from getting taxed out of their homes by capping tax increases on homestead properties by 3% or the rate of inflation, which ever is lower.
The problem with amendment 1o is that you can buy the exact same house as the guy across the street, who has been there for 10 years, and pay twice the taxes that he does. Another example of politicians helping one group at the expense of another.
Now that property values have dropped like a stone here in Florida a new issue has come up with Save Our Homes. This is called the recapture rule. The recapture rule states that tax assessors must increase the assessed value of a house by up to 3% as long as that it is less than the homes market value. This is why most peoples taxes are not going down even though their homes value has gone down.
Now here’s some home work. Below are 2 great links. One is to the Marion County property appraiser. Read the FAQ and check out the tax estimator. If you live in Florida read the portability calculator because you can bring your Save Our Home exemption with you to a new house. The other link is to an article from the Ocala Star Banner which has a detailed explanation about why taxes aren’t going down.
Marion County Property Appraiser
If you buy a foreclosure or short sale in the Ocala area it is important to understand that you will be assessed at market value and not the amount you paid for your house.
Finally, when you see the taxes on a real estate listing be aware that it is not the amount that you will be paying. Taxes adjust every time a house is sold.
Hardwood Trails Ocala FL
Hardwood Trails
Hardwood Trails is a 55 plus retirement community located in SW Ocala Florida. Hardwood Trails has several issues as out lined in a recent Star Banner article regarding problems between residents and the developer. For example there is a very nice community center but the pool isn’t finished. This is also a gated community but the gate doesn’t work. Despite these issues I really like Hardwood Trails for the long term. Hardwood Trails is in a great location just minutes from all the shopping, restaurants and health care offered in the SR 200, SW corridor. This is also one of the few subdivisions where the developer left all the trees. Home prices are in the mid to high $100′s. HOA fees are about $90- per month for maintaining the common areas, the clubhouse, trash and basic cable.
If you would like a list of homes for sale in Hardwood Trails fill out my Dream Home Finder located in the column on the right hand side of this page.
Pine Run Ocala Florida
Pine Run Ocala FL
Pine Run is a 55 plus retirement community located in SW Ocala Florida. Homes here are of frame construction with aluminum siding. Prices start around $35,000- for a foreclosure or fixer upper up to about $100,000-. Pine Run has 2 clubhouses each with a pool, tennis courts and other amenities. HOA fees are around $80- per month and include the clubhouse and pool, trash pickup, common area maintenance and a 24 hour guard at the gate. Homes in Pine Run are well kept and show pride of ownership.
If you would like a list of homes for sale in Pine Run fill out my Dream Home Finder located in the column on the right hand side of this page.
Buy now and retire later?
People are buying 55+ community homes in Ocala now to retire in to in the future. Much to my surprise I’ve been contacted several times now in 2009 by buyers looking to buy a retirement home even though they’re not ready to retire just yet. Think about it, we are in the middle of the most extreme buyers market in anyone’s lifetime. Interest rates are at historical lows with no where to go but up. This is the buying opportunity of a life time. Can you can afford to buy your retirement home now and hold onto your primary home for several years until the market starts back up? This is a scenario of buy low and sell high if there ever was one.
