Florida Property Tax Reform - STATUS

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  #1  
Old 10-20-2007, 01:28 PM
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Default Florida Property Tax Reform - STATUS

Dear Friends:

For over a year now you have been advocating for property tax reform that is comprehensive and not just a simple tax cut. Your message has been clearly delivered to the legislature that reform needs to address all property types - not just Homestead property owners.
This afternoon The Florida House of Representatives released a revised property tax relief proposal that will be considered on Monday. This plan includes provisions advocated by both Republicans and Democrats in the House.
In addition to Portability which is being embraced by the Governor, Senate and House, this new House proposal includes a five percent assessment cap on Commercial and non-homestead property. This is intended to provide the predictability and stability that non-homestead property owners have been advocating for.

The House is also advocating a new homestead exemption that, instead of doubling the current $25,000 exemption, would guarantee a minimum Save Our Homes exemption of 40% of the county median home value. House leaders believe this will provide relief to not only new buyers but those who have purchased in recent years.
Again, we expect the House to begin consideration of this proposal on Monday. Both the House and Senate plans that are being considered maintain the current Save Our Homes structure and provide for portability of Save Our Homes.
Attached is a side-by-side that gives more detail on the current Senate and House proposals.

Here is a complete list of the issues being proposed in the House plan today:
Instead of doubling the homestead exemption, this exemption is tied to the county's median home value and will target relief to all homestead property owners (not just first time buyers). Again, the exemption would be 40% of area median.
Save Our Homes-like cap on non-homestead and commercial property to help restore fairness, equity and predictability to our property tax system by capping any increase at 5%. This will help businesses who have faced outrageous tax increases and owners of second homes (Snowbirds).
Portability - homeowners may transfer their Save Our Homes benefits to a new homestead anywhere in Florida within 2 years of leaving their former homestead.
Creates a new Tangible Personal Property Exemption of $25,000
Limits the authority of local governments to increase property taxes
Provides for limitations on assessed values of properties used for affordable housing
Provides an assessment growth limitation for all non-homestead properties in Florida by 5%
Creates more flexibility for the Legislature to limit assessments for working waterfront properties
Election of all county property appraisers
We will continue to update you on negotiations.
Nancy Riley

2007 FAR President
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  #2  
Old 10-21-2007, 11:39 PM
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Default It's A Pleasure To See Legislators From Both Parties Cooperating In Talahassee

That's more than can be said for our elected representatives in Washington. While the legislators in Talahassee work together to create laws needed and desired by Florida residents, our representatives in Washington argue, posture and generally kvetch. Having moved recently from Illinois, where the State Legislature and Governor are just as non-functional as they are in Washington, the situation in Florida is an absolute pleasure to observe. Congratulations to Governor Crist and the representatives we elect to work for us at the State level.

Now all we need to do is clean house in Washington with the objective of getting some "Florida-like" legislative representation.
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