Property Taxes = Florida's Downfall?

[Kurt]

The price of insurance in Florida is going to go up BIG TIME in the next couple of months. The taxes are the first nail in the coffin for the second/investment home/retail market, the insurance will definitely be the second!

Could you provide some details and/or a link? Where do you get your information? Do you include my insurance company in your statement? I would like to be prepared for how much my insurance will be going up in the next couple of months. How much is "BIG TIME"?

 

[Just_In_Thyme]

I got my insurance bill for next year and quite to my surprise it didn't go up anywhere near the catastrophic levels our prognosticator Shelly stated.

 

[Smiling JOe]

Yet, I know of other people whose insurance rates recently increased 80%, and they are Bayfront, as opposed to Gulf Front.

 

[Just_In_Thyme]

We're 4 houses from the Gulf at some of the higher elevations. Maybe that's why it didn't go up so much.

 

[Miss Kitty]

SHELLY...I have some questions. Do you own property in SoWal? If so, have your insurance and property tax hikes caused you to consider selling? I am very interested to know what your connection to the area is and if you have taken the time to ENJOY the beauty and uniqueness that attracts so many to 30-A. Thanks for your reply.

 

[Smiling JOe]

Recently, I heard someone say something which I believe to ring very true. "In the recent past, people bought out of fear (fear that they would not be able to own if prices kept escalating). In the near future, people will be buying out of love for the area."

If that is the case, I wonder if they will see past the property taxes and insurance. My guess is that it won't matter too much, if they can afford today's prices anyway.

 

[SHELLY]

I got my insurance bill for next year and quite to my surprise it didn't go up anywhere near the catastrophic levels our prognosticator Shelly stated.

That is probably because the "little old lady on fixed income who lives 60 miles from the coast in a one-bedroom trailer" is now subsidizing Citizen's insurance--give it time, and another season.

 

[ecopal]

What are you all complaining about?
Taxes in Florida are dirt cheap compared to up North.

 

[Buckhead Rick]

and if you live in Florida you are not paying the 6% income taxes I am here in Ga, and we still have the 49th ranked school system in the U.S. As we say here, thank goodness for South Carolina (ranked 50th)

 

[Franny]

We received notice this May that our wind ins (currently covered by Citizens) was being assumed by Florida Peninsula and the rates are actually lower. Any one else receive this change in their insurance?