Property Tax Issue

[Atlanta0744]

What are your opinions on the proposed property tax super exemption replacing the current one (Save our Home) exemption?

[Avista]

I believe what we will be voting for is the individual CHOICE for each homeowner. If you have lived in your house a number of years under the 3% increase rule. You will be better off with the current "Save Our Homes". We who have newly purchased a home may do better with the Super Exemption--at least for a few years. Guess it depends how long you decide to stay in your home. After about 10 years the Super Exemption catches up. But, look how much money you have saved in the meantime.

I will vote for the proposal as I think people should have the choice which way they want to go.

[TV MAN]

Could anyone please post more information about this. I am unclear as to this property tax proposal :dontknow:

[Atlanta0744]

Here is the link to get more information
http://www.thevillagesdailysun.com/articles/2007/09/22/news/news03.txt

[TV MAN]

Thanks Atlanta :bigthumbsup:

[Renee]

Avista You say you will vote for it so people have a choice. Anyone purchasing a home after the bill passes (if it does) won't have a choice. If a new homeowner is faced with a large property tax bill, which has happened in other states, it hurts resales. The protection of a maximum 3% increase in property value is pretty good, take that away and watch out. The state needs more money and this is a sure way to get it at the homeowner’s expense.

[JohnN]

Mostly, if you're a long-time homeowner (5 years or more) and you plan to stay in that home a long time, you're better off with the current exemption - which you can keep even if the election passes. I don't think the legislature will come up with anything better for voter approval, so I think this plan is a good idea - and I'm not even in Florida yet! Just observing since taxes are so incredibly high now.

[jjdees]

There's a real disconnect on property taxes now with homes being taxed at grossly different levels depending how long you've lived in them. This change will only exaggerate this problem. I guess it's naive to think that we're supposed to be taxed equally in this country. If I have a home identical to another in the same locality (not including bonds or other extraneous add-ons) the 2 homes should be taxed nearly the same. Not in Florida.

[nyclicker]

I’m from Western NY where there is no limit on increases in accessed value and property tax rates are around $40.00 per thousand of accessed value. Do the math; a $300,000 home pays around $12,000 in taxes per year. Florida has a good system in place, don’t change it. You know the state is not offering you this new super exemption to save you money in the long run.

[Renee]

I agree with nyclicker. Also if you don’t plan to take the new super exemption why vote yes? If you are planning to use it and property values go up by 20%, 30% or more per year any saving are gone and new people that buy a home will really be looking at the taxes they might have to pay. It could actually lower the price you can sell your home for.

[kitten]

I'm not in favor either. It will force prices down as the taxes increase and fewer people can afford to purchase.

[RCT]

We are planning a move after a Dec. 31st retirement of this year. By what I have been reading, it sounds like it would be better to buy a place before this prop. tax issue takes effect?? Will be moving from Boca Raton, and as the portability part of the prop. tax seems dead, or at least on hold for at least a year, it sounds like it would be better to buy in time, that we could stay with what we have now, a S.O.H., not going up more than 3 percent a year, because we are planning on living in TV WAY more than the 10-15 years that it sounds like this super-exemption would help us for. and wouldn't have a CHOICE, it sounds, if we'd buy AFTER the new deal would start. Am I looking at this correctly? Would appreciate any comments and advice. Great site here, has provided us with alot of info. Can't wait to be a golf, softball, table tennis, music loving, people friendly Villager within 6 months!!!

[Avista]

Don't forget you must be in your home Jan 1. We moved here Feb 16 and did not get the exemption for this year. Will get it next year.

[RCT]

Thanks Avista, but already being Florida residents, it just matters what we are considering primary residence, wouldn't it? As long as we are in it 7 months of the year, just like the criteria for being a resident, correct?

[Avista]

I don't think so. We have been in Florida since 1983. Moved here from Tampa. When we went to file for the Homestead exemption in Feb, they told us we wouldn't be able to file for the 2007 exemption as we weren't in our home Jan 1. We went back a couple of weeks ago and filed for the 2008 exemption.

[kitten]

Remember it has not passed yet and hopefully it won't. Also I don't think it would take 10-15 years before you are paying more tax. Assessed values will climb a lot more that the hypothetical chart shows using a 7% increase per year.

[Renee]

If I understand this proposition and it passes anyone that purchases a home must use the new exemption even if you believe it will lead too much higher taxes. If I sell my home in TV to purchase a larger or smaller one I can’t keep my current exemption that keeps my taxes low. Why would I want to approve this?

[RCT]

Thanks again Avista and others for your input, did some checking, and you're right, have to be in the new place on Jan.!st for Homestead. Doesn't seem right, seeing as you only missed a month and a half, but, can't fight city hall, huh?
Even if this does pass, though, wouldn't go into effect until Jan.2009, I would assume. People seem to think it will not pass, though, so, wouldn't matter for us then, but, what if it did? We would have to make sure we purchased before it takes effect? Losing the homestead for one year because we might not be in on Jan. 1st certainly wouldn't be the biggest loss, but if we waited, and would have no choice but the super-exemption, that wouldn't be preferable.

[zcaveman]

I see where a judge threw out the amendment as ambiguous and one-sided and the legislatures in Tallahassee are scrambling around to keep it on the ballot. AS one who will never move to any other place in Florida, I like Save Our Homes.

Read before you vote on it if it makes it back.

[Renee]

September 26, 2007

ISSUE: Judge kicks amendment off ballot.

Fixing language to get a property tax overhaul back on the Jan. 29 ballot seems an easy repair job. Still, a judge's ruling gives Gov. Charlie Crist and the Legislature another opportunity to do the wise thing, and hand this contentious, complicated issue to the Taxation and Budget Reform Commission.

A Leon County court ruling Monday removed the constitutional amendment on a "super" homestead exemption from next year's primary. The judge, who ruled on a lawsuit filed by Weston Mayor Eric Hersh, found the language misleading because it didn't clearly state the amendment would, over time, spell the end of Save Our Homes safeguards.

Those who cheered the judge's decision as the end of the super exemption effort might be doing so prematurely, however. Inserting language clarifying the ballot measure seems an easy chore.

Having debated property tax reform through the regular session and a special sessions, you can count on the Tallahassee to make the repair. After all, letting the people decide is reasonable and fair.

The smarter political and public policy alternative, however, would be to turn this debate over to the Taxation and Budget Reform Commission.

It's wiser for political reasons, since polling on the amendment hasn't produced numbers indicating enough support for ratification. But the more important reason for handing this to the once-every-20-year commission is that it's in Florida's best interest.

The constitutional amendment itself is too limited. It only addresses taxation for homesteaded properties, while doing nothing to ease the crunch on businesses and others. That's why House Speaker Marco Rubio and others have vowed to address commercial property taxes after the Jan. 29 vote.

Eliminating the SOH protection over time sounds egalitarian. But Floridians skeptical of public spending and taxation will be unwilling to get rid of the one guarantee they have against a tax spiral.

Bringing sense and fairness to the tax reform debate is difficult in this politicized environment. The Taxation and Budget Reform Commission has the advantage of a more deliberative process necessary to wrestle with the hard decisions ahead.

Its chairman, former House Speaker Allen Bense, had previously said the panel would focus on reform options or enhancements to follow the Jan. 29 vote. Why not just let them have a blank slate?

Florida would be better off voting on a comprehensive package of reforms provided by the Commission than with the politicized, piecemeal efforts of the Legislature.

[Birdman]

Can someone come up with a SWAG (scientific wild a__ guess) concerning what the property tax would be on a $350-$370K Home in TV? HOI? Currently living in Germany and eating brats and drinking a few beers :beer2:. May have to switch to peanut butter and water once we get back stateside :cus:. Then of course, there is always Alabama.

[nyclicker]

Birdman. If accessed at 350,00 and no exemption your tax rate should be around 2.2% including the bond. That would translate into about $7700.

[Birdman]

Whoa Dogie...guess we had better fill up on the schnitzels and brats over here while we can. Maybe things will get better before we return to buy a place in Mar 08. Don't want to know/ask about the HOI.

[pili]

I sure hope you citizens of TV vote to keep the taxes "as is". I read the article and I agree it may save a few dollars the first few years and them "boom" you're hit with major taxes. We live in Illinois and our tax bill is close to $12,000. We are looking to TV to cut back our taxes. A 3% cap seems fair to me. There is no way we could afford to pay the taxes we pay now once we retire.

Thanks for all the good information.

Pili