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Florida Property Tax Reform -- Why We Should Vote Yes

On January 29 we all have a chance to make the tax situation better in the great state of Florida by voting yes on Amendment 1. Now this may not be the relief we were expecting but it certainly is a nice first step. After this passes we can then move toward more of what we want.

The politicians have certainly found a way to do absolutely nothing but again, lets take what we can get and then push for more. These tax issues are difficult and will only be solved over time because there are so many different agendas involved. I certainly hope the politicians keep working before more people decide to leave Florida for other destinations. Below are the benefits we will receive if Amendment 1 passes.

1. The Homestead Exemption will go up to $50,000. The second $25,000 will not apply to school taxes.

2. Portability will go into effect and will allow people to move and not have a drastic change on their tax bill. This will also be retroactive to January 1, 2007.

3. Non-Homesteaded property will receive a 10% assessment cap for the next 10 years.

4. Businesses will get to exempt $25,000 in taxes for tangible property such as office equipment.

Vote yes for Amendment One.

For more information visit the link below.

www.co.palm-beach.fl.us/papa/index.htm

Posted by Joe Santini, P.A. on 01/11/2008 12:11 PM

Comments (4)

property taxes, advice, tips

This post has been included in Florida Information

4 Comments on Florida Property Tax Reform -- Why We Should Vote Yes

If we wait for the perfect proposal, it will never come. In addition, I prefer getting the current proposal on the books as it will give some relief. We shouldn't stop here, we need to continue to pressure our elected officials to ensure the millage rate is appropriate, and eventually shift away from property tax to consumption tax.

I think the lesson to be learned is that we voters can't ignore taxes and just wait for the next imbalance, but need our representative's commitment to continually review the tax rate and apportionment.

01/14/2008 07:37 PM

by John Fisher

I agree John, This can't be ignored. Even though the progress is slow we must keep moving forward.

01/15/2008 09:54 AM

by Joe Santini, P.A. (Coldwell Banker)

it seems like this proposal is fit best for non residents..... why cant people see that..... they have a cap of 10%....... now its what the market sets.......

and the way i see it......... Foreigners....... are going to be buying up our paradise....... for a song..... with our dollar sooooooo low........ and they will also benefit with stabling the tax structure for them.....

For myself....... a resident........ what's another 25...... wow wow... and the moce of the tax structure to another home...../( that will never fly......... for long)

florida will get a damn income tax after this and the people residents of florida will be holding the bag........ with all the great benefits for businesses...... non residents......

and services will suffer......... not before of residents money saved......... but businesses and non resident savings.........that is where the BIG savings are...........

01/23/2008 07:15 PM

by WHat you should be thinking..........

Thanks for your comments. Out of the three the permanent residents do benefit more. This may not be what we all expected but we can certainly take this and move towards getting more of what we want.

01/27/2008 12:24 PM

by Joe Santini, P.A. (Coldwell Banker)

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