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Jdarg

SoWal Expert
Feb 15, 2005
18,068
1,973
Is this about homestead taxes? Could you explain it a bit?
 

wrobert

Beach Fanatic
Nov 21, 2007
4,134
575
61
DeFuniak Springs
www.defuniaksprings.com
Is this about homestead taxes? Could you explain it a bit?


Here is a synopsis I got from www.yeson1florida.com. I edited it down a little bit.

  1. Double the homestead exemption for almost all homeowners, providing an average savings of about $240 annually. The new exemption applies fully to homesteads valued over $75,000 and partially for homesteads valued over $50,000. This new exemption does not apply to school taxes.
  2. Allow portability: Portability will allow homeowners to transfer their Save Our Homes tax benefits from their old home to a newly purchased home. Portability applies to homes purchased in 2007 and later, and the benefit is capped at $500,000.
    If you upsize, you will be able to apply the dollar value of your Save Our Homes tax benefit to your new home.
    For example:
    1. Homesteader owns home valued at $300,000 and buys a new home valued at $400,000
    If you downsize, you will be able to apply the percentage of the Save Our Homes benefit to your new home.
    For example:
    1. Homesteader owns home valued at $300,000 and buys a new home valued at $150,000
  3. Provide an assessment cap of 10% for all properties, not previously capped: While homestead properties are already capped at 3%, now all other properties, including rental properties, second homes, and business properties, will be protected from huge increases in valuation. This new exemption does not apply to school taxes.
  4. Create a new $25,000 exemption for business property, including office furniture, computers, machinery and equipment.
 

elgordoboy

Beach Fanatic
Feb 9, 2007
2,513
887
I no longer stay in Dune Allen
Just reading that description isn't worth $240 much less actually comprehending it and then leaving my house to vote for or against. Like the man peeing into the sea said...but :dunno:
 

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
"Double the homestead exemption for almost all homeowners, providing an average savings of about $240 annually."

I disagree with the above. Theoretically, it might "save" the property owner $240, but in all likelyhood, with all of the caps and changes, we can expect the actual millage to increase, thereby eliminating any "savings." The County isn't cutting back on expenses, just taxing in a different form. Do you agree?
 

Bdarg

Beach Fanatic
Jul 11, 2005
341
200
Point Washington
"Double the homestead exemption for almost all homeowners, providing an average savings of about $240 annually."

I disagree with the above. Theoretically, it might "save" the property owner $240, but in all likelyhood, with all of the caps and changes, we can expect the actual millage to increase, thereby eliminating any "savings." The County isn't cutting back on expenses, just taxing in a different form. Do you agree?

I am reluctant to use a lobbyist site to look for what a proposed amendment does or does not do. They are paid to have a slant. I sure that there are some independent sources out there. Or at least a look at the lobbyist on each side to see what strengths and weaknesses they each point out.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
I am reluctant to use a lobbyist site to look for what a proposed amendment does or does not do. They are paid to have a slant. I sure that there are some independent sources out there. Or at least a look at the lobbyist on each side to see what strengths and weaknesses they each point out.

Here's an article from Tampa with another slant:

Better than nothing; is that good enough?
By HOWARD TROXLER
Published January 3, 2008

Maybe you are thinking:

"Thank goodness that the holidays are over! Now I can turn my full attention to figuring out this property tax thing on the Jan. 29 ballot."

Hey, that's just what I was thinking, too! This is a big decision. So, let's take a look.

Amendment 1 would do four things:

(1) It would increase Florida's "homestead" tax exemption. The way it works now, we don't tax the first $25,000 of a home's value. The new total tax break would vary, but a typical figure is $40,000.

(2) The amendment also would change the rules for the "Save Our Homes" tax break for homesteads. The tax break would become "portable," or transferable to a new home.

(3) Businesses would get a little help as well, a tax exemption for their first $25,000 of tangible personal property.

(4) All nonhomestead property also would get a cap of 10 percent a year on how fast its taxable value could go up. That's not as good as the 3 percent cap homeowners have, but it's better than the double-digit jumps of recent years.

Now to the pros and cons.

Before we go through the reasons to vote against it, be sure to remember the really good reasons to vote for it.

Hey, look, it's a tax cut. Millions of Floridians will get a bigger break. Nonhomestead property, including businesses, will get a little help, and protection against future double-digit hikes.

Maybe we should do other reform later, according to this line of argument. But at least Amendment 1 is a start.

As a second reason for voting yes, some people hope the "portable" tax break under Save Our Homes will help the real estate market, since people no longer have to stay in their old home to keep their tax break.

Now, for some of the arguments against Amendment 1:

It gives the most help to homeowners, who already get the best tax break, and it gives the least help to those who need it most.

It doesn't fix the underlying unfairness in Florida's tax structure.

It doesn't reverse any of the big local government tax increases of recent years.

It gives the average homeowner an insultingly small break, a couple of hundred bucks a year.

It doesn't do enough for business.

It might even make future tax reform harder to pass.

It would require even deeper cuts in local services, in exchange for a fairly small savings for the typical taxpayer.

Whew! That is a lot of criticism. But even if it all is true, there's still the "better than nothing" argument.

My own thinking is that the Legislature took the easy way out with Amendment 1.

Instead of a thoughtful, coherent reform, the Legislature held a quick three-day session in October, threw in a higher tax break for homeowners, stuck on a couple of sops to business, and called it quits. This is a shallow way to run the state.

If you like the arguments for voting yes, and you agree that this is better than nothing, then go right ahead, and I will cheer for you.

But me, I kinda hope the voters shoot it down and tell the Legislature: Try again, and do it better.

-----------------------------------

By the way, Charlie would like you to give $10 to help foot the bill to advertise 'your' tax cut: http://www.sptimes.com/2008/01/03/images/yeson1.pdf

Apparently he didn't get enough from his NYC $1,000-a-person fundraiser hosted by Donald Trump. :roll:

http://www.theledger.com/article/20071208/NEWS/712080390/1004


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Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
I think this is just a way for the politicians to appease the people, and I don't see how it will effectively make a change in the actual dollars paid. If anything, it puts more of a burden on new buyers to pick up the tabs for everyone else. I haven't looked at the link above, and would agree with BDarg if the link is for a lobbyist.
 

beachmouse

Beach Fanatic
Dec 5, 2004
3,504
741
Bluewater Bay, FL
Two no votes in our household. Seems like it's nothing more than a shell game where we discover things are even more fubar because of it five years later.
 
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