Post Tax Bill Real Estate Listings

[Smiling JOe]

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With the "Save our Homes" law in Florida, all homesteaders, whether they experienced the highest or the lowest percent market value increase will see their taxes drop similarly since they can only see the lower of 3% or the CPI rise in their assessed value (if I am interpreting what I read correctly). It seem if the law put a cap on the rise in the tax instead of assessment, it would better protect homesteaders anyway, since millage changes can work against them if and when a reevalution occurrs when most values went down, and they are still stuck with a 3% or so rise in valuation.

The Save our Homes Act kicks in only after 24 months of living in that home as your primary residents. So, people buying primary residents within the last 24 months will still see major increases in their assessed value.