Quote:
Originally Posted by synthia
I just looked up the homestead exemption in my home county. It is $25,000. That means that the first $25,000 of a property's value is not subject to tax. At a rate of 2%, that saves $500 per year, or 250 GBP, enough to take a couple to the movies (no popcorn or drinks) about 10 times in the UK.
|
If 500 bucks isn't much to you, that's fine. But the story gets worse. Under the homestead exemption, the homesteader's house value can rise a max of 3% a year. However, without the homesteader exemption, there is no limit to the annual rise. I know of one permanent resident in Florida whose E2 neighbors are now paying $3,000 a year more in taxes for an identical property.