Property Tax Vote
 

Wondering how the voting went on the Property Tax issue ?

Re: Property Tax Vote
 

It passed by 70+%. 60% was required.

64% For and 36% Against With About 85% Of The Precincts Counted
 

It passed.

Re: Property Tax Vote
 

What does it mean to homeowners in TV and when will it take affect?

Re: Property Tax Vote
 

Is this a good thing?

Re: Property Tax Vote
 

Nanci, I think it's one of those things that looks good on paper but will ultimately cost the residents of Florida in less public services and repairs. It will lower property taxes, which, in the short term is good. Who knows what will happen over the long run for towns, cities and counties with regard to getting funds for police, fire, public works but my gut feeling is nothing good. I hope I'm wrong.

Re: Property Tax Vote
 

It won't lower property taxes at all. Sure you get double the exemption but the counties will have to increase the millage rate to recoup the lost tax base. In the long run all property taxes should stay about the same; just changes who pays more or less than before.

What it really does is shift the tax burden. The winners are those that move often (they can take their SOFH savings with them) and businesses since their personal property tax will be reduced. Thus it has the tendancy to reduce taxes on young families and businesses at the expense of the residents especially retirees who stay put. So folks, in about two years you'll be saying: "Hey I thought this was suppose to lower our tax, not raise it!"

Re: Property Tax Vote
 

In our case it will be good, having lived in Boca Raton 30 years, will be able to take advantage of the portability, taking credits with us, on top of the double the Homestead, will be nice. And, staying under the Save Our homes act, limiting appreciation at no more than 3 percent a year. Hopefully, this won't be the end of what will be done. As in anything, some tweaking will be done, I am sure. As far as the lost revenue for counties, is true they may have a hard adjustment, but, I am sure all of us, in our everyday living, sees examples of waste in our government services, things that would be more economical, even if it is only workers being more productive. We see companies in the public sector having to streamline and cost cut all the time, it's about time our governmental services start doing the same, also.

Re: Property Tax Vote
 

What about people moving into the state. They will have to pay higher taxes ?

Re: Property Tax Vote
 

You may be paying higher taxes than a person living right next door to you, yes, if they have lived here and transferred the credits like I mentioned above. the thing is, there were people that were at a point in life to downsize, and preferred to stay in the state, but would sell their place, and be buying something much less expensive, but were paying property taxes at the newer rate, they were actualloy paying more than the previous more expensive house. Alot of people, then, were leaving the state. This is a way to keep that from happening. Something still has to be done, though, about seasonal resident owners. the taxes, I feel, are still a little out of proportion for them, considering the revenue they do bring in while they are here. Like I stated, there will, in the future, be adjustments to this whole thing, and hopefully will be well thought out, and advantageous for the big picture.

Re: Property Tax Vote
 

Imho* I feel people alot of people will not want to move into Fl if there to pay more than others. Just like the ones leaving now they won't be comming.

Re: Property Tax Vote
 

Trying to understand the passing of Property Vote yesterday.
Were not living in TV as of yet. In Feb. will be our 5th trip to again look.
I'm surprised it took all these years to finally raise the Honestead Exemption to $50,000. I lived in S/E Florida back in the early 60,s. Was great when you could buy a house for $19,990 and had a $25,000 exemption. Yesterdays voting that passed will help everyone who owns and is a resident of Florida. Think I had read an additional average savings of perhaps $240.00 per resident owner. Guess time will tell the tale.
See you all in 23 days.

Re: Property Tax Vote
 

Villages Kahuna, I know this subject has been discussed earlier on TOTV but I expected you to be more specific now that it's passed. How will this change affect people in TV who maybe haven't been long-term Florida residents but are moving to TV for the first time from another state?

George

Re: Property Tax Vote
 

For those in Sumter County where the tax rate is $5 and change----round it to $6---the additional tax savings is $150 at most. Guess Sumter County residents are less than "Average". Builders and real estate companies are celebrating as it will help them sell more homes. More people in TV have moved from elsewhere in FL than from any other state----portability rules!

Re: Property Tax Vote
 

When people from outside the state look to buy a house and see the total RE tax on a property is, let's say, $1234 per year but when the house is sold to them, they discover that the cap and the exemption(s) come off and the new tax is $2345. Boy, are they surprised! And you know the Property of the Villages don't tell you that on resales.

In Marion County the Amendment 1 savings will be exactly $179.15 per year and in Sumter County it will be exactly $151.40 per year. Pretty big deal, heh?


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