Citizens voted January 29th to change the property tax system in Florida. To receive

some of the benefits of the changes enacted January 29th, certain citizens must take action

by March 1, 2008.

The Constitutional amendment created four new opportunities for taxpayers to obtain tax

relief:

1. Increased homestead exemption

2. Portability of "Save our Homes" benefit

3. $25,000 exemption for tangible personal property

4. 10% annual assessment limitation for non-homestead property

What taxpayers must do to receive these new benefits:

1. Increased homestead exemption - Homeowners that are currently receiving the

homestead exemption will automatically receive the increased homestead

exemption. No action is necessary.

2. Portability of "Save our Homes" benefits - If you received the homestead

exemption in 2007 on a home that you sold or otherwise abandoned during 2007

and have purchased a new home by January 1, 2008, you are eligible to take some

or all of the benefit of "Save our Homes" to your new home. In order to receive

this benefit, you must apply by March 1, 2008 to your property appraiser for

your new homestead exemption and for the transfer of the "Save Our Homes"

benefit to your new homestead for 2008.

3. $25,000 exemption for tangible personal property - Tangible personal property

taxes apply only to certain taxpayers in Florida - typically businesses and certain

owners of mobile homes. The tax does not apply to homesteaded property. In

order to receive the $25,000 exemption for tangible personal property, taxpayers

limitation does not apply until next year. No application is necessary for 2008.

If you have any questions about what action you must take to receive these new benefits,

please contact your local property appraiser. For information on how to contact Florida's

property appraisers, go to http://dor.myflorida.com/dor/property/appraisers.html.

BETTY GARCIA

786 229 3636

HTTP://WWW.17THREALTY.COM