Quote:
Originally Posted by Bill14564
The rates that were passed were tied to an existing study.
Your property tax rate is NOT capped which is why the commissioners prior to the suspended commissioners were able to raise the rate by 30%, an amount you and I are still paying.
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You are right, the millage rate is not capped but the assess value of property for Florida residents with homestead exemption is capped at, I believe, 3% per year. The assess value is used to calculate your property taxes. This last year, my market value went up almost $150,000 thousand but my assessment only raise by 3%. Had this cap not been in place, My taxes would have gone up substantially this year but, instead, the total amount due went down!
As far as the study, there was NO study done that justified the increase that was passed. That's why it could not be implemented.