[Goldwingnut]

Originally Posted by Nucky

I think GOLDWINGNUT should take the NUT part off his handle. Bravo, great information. Thank You.

Thanks, just passing on what I've learned over the last 12 years of living in FL. One of the nice things about the Save Our Homes is that it only applies upwards, if property values drop, so do your taxes.

We move to FL in 06 to Haines City (about an 90 min south on US27, next to Winter Haven-Legoland) and purchased a home, then the market dropped out the bottom. It hurt in may ways but helped in others when the bottom fell out of the housing market. My annual Property taxes dropped from $3650 in 2007 to $770 in 2012 when the market finally turned in Haines City. Then numbers are pretty interesting when you see how SOH plays out

2006 - Purchased Home
2007 - First tax bill $3560
2009 - taxes $2250
2012 - tax bill $770
2013 - put in a pool and was reassessed $1212.61
2014 - house sold new owner property tax for partial year $1639.75
2015 - Home now a rental, no SOH savings, $3325
2018 - current tax bill $3900

Had I stayed in the home my tax bill because of SOH limits would be $1447 for the year 2019.

As you can see, SOH has a huge impact on the taxes you pay on your primary residence, if it's a rental property, no help.

When I sold the house, I got back almost what I paid for in 7 years earlier but also took with me the growth in value from when the market hit bottom in portability because of the market recovery in the home's value. This is applied to the value of my home in TV to help keep my taxes lower.

SOH is a good thing, Amendment 1 on the ballot Tuesday keeps it, we should all be voting to keep it.