Property Tax Issue

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  #1  
Old 09-23-2007, 07:12 AM
Atlanta0744 Atlanta0744 is offline
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Default Property Tax Issue

What are your opinions on the proposed property tax super exemption replacing the current one (Save our Home) exemption?
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Old 09-23-2007, 07:19 AM
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Default Re: Property Tax Issue

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.
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Old 09-23-2007, 07:28 AM
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Default Re: Property Tax Issue

Could anyone please post more information about this. I am unclear as to this property tax proposal :dontknow:
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Old 09-23-2007, 07:32 AM
Atlanta0744 Atlanta0744 is offline
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Default Re: Property Tax Issue

Here is the link to get more information
http://www.thevillagesdailysun.com/a...ews/news03.txt
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Old 09-23-2007, 07:34 AM
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Default Re: Property Tax Issue

Thanks Atlanta :bigthumbsup:
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Old 09-23-2007, 07:43 AM
Renee Renee is offline
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Default Re: Property Tax Issue

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 homeowners expense.
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Old 09-23-2007, 08:12 AM
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Default Re: Property Tax Issue

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.
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Old 09-23-2007, 08:59 AM
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Default Re: Property Tax Issue

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.
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Old 09-23-2007, 09:25 AM
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Default Re: Property Tax Issue

Im 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, dont change it. You know the state is not offering you this new super exemption to save you money in the long run.
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Old 09-23-2007, 09:34 AM
Renee Renee is offline
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Default Re: Property Tax Issue

I agree with nyclicker. Also if you dont 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.
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Old 09-23-2007, 04:29 PM
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Default Re: Property Tax Issue

I'm not in favor either. It will force prices down as the taxes increase and fewer people can afford to purchase.
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Old 09-24-2007, 05:57 PM
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Default Re: Property Tax Issue

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!!!
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  #13  
Old 09-24-2007, 06:07 PM
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Default Re: Property Tax Issue

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.
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  #14  
Old 09-24-2007, 06:14 PM
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Default Re: Property Tax Issue

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?
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  #15  
Old 09-24-2007, 07:25 PM
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Default Re: Property Tax Issue

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.
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