Amendment #1

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  #1  
Old 01-15-2008, 12:30 PM
chacam chacam is offline
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Default Amendment #1

Hi All,

In a nutshell, can someone explain the pros and cons regarding this amendment ?

I know about the exta $25,000 exemption, not sure I understand the other sections.

Some forum readers will probably go to the HOA meeting tonight at Colony. Would love to hear about the meeting and their impressions.

How are you going to vote and why ? ?

Thanks
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  #2  
Old 01-15-2008, 12:52 PM
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Default Re: Amendment #1

Chacam,

Thanks for starting this thread...I admit I haven't studied the amendment as thoroughly as I should have and am also challenged whether to vote on what is personally best for me or what makes the most sense for the state.

As a full time Villager/Floridian who doesn't intend to buy another house in my lifetime, the current law seems most advantageous over the long run....caps assessment increases to 3% a year and $25K exemption.

The current law is somewhat unfair in that 10 years from now my taxes will be far lower than someone who buys a comparable house next door to me who is taxed at full (hopefully appreciated) value. But, it is fair in that I bought what I could afford at the time and might not be able to afford my own house (and new full tax bill) in 10 years.

My concern with the proposed amendment is that it gives substantial tax breaks to just about every type of homeowner. Tax breaks (along with a slowing economy and slow housing market) mean less revenue to the state and county. So, will they have to increase various fees and the overall millage rate and decrease services to keep up with their essential services?

What I haven't seen is a comparative report on the Florida and Sumter county budgets over the last 5 years...how much did their revenues increase during the housing boom years that they turned right around and used to increase spending...these governments don't understand the concept of putting money away into a rainy day fund for the lean years. And, with their typical late to the party timing, now they are talking about decreasing property tax rates at a time when their overall revenue is down...duh.

Snowbirds (non homesteaders) and those who intend to move several more times in their lifetime will have a different perspective on this issue.

Related question....Florida is a closed primary state; you can only vote on your party's slate of presidential candidates and vote for the property tax amendment at the same time. What happens to people who are registered as Independents or some other party? Do they get to vote on the property tax amendment?

I look forward to reading other TOTV'ers thoughts on Amendment #1.
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  #3  
Old 01-15-2008, 03:27 PM
kathy and al kathy and al is offline
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Default Re: Amendment #1

I believe everyone understands the increased $25,000 exemption, however, the second part of the amendment which deals with "taking your Save Our Homes" credit with you when you sell your home--is a little confusing to this guy!!
Can anyone explain in simple terms ( or give a reasonable example ) of just what it means to be able to "take your Save Our Homes credit with you when you sell your home??
Thanks for any feedback.
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  #4  
Old 01-15-2008, 04:06 PM
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Default Re: Amendment #1

There is a good, but brief, explanation on the website of the Leon County Property Appraiser.

http://www.leonpa.org/
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  #5  
Old 01-15-2008, 07:01 PM
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Default Re: Amendment #1

Personally, I think if you trade up - move to a new local in a better area you should suffer the consequences of the higher tax rate. I know that if I moved from point A to Point B in New Jersey, I would have to pay the tax rate to support the schools and whatever in that area.

And when you look at what the amendment will do the the economies of the various areas by decreasing their income, you have to think that the municipalities will have to start billing the taxpayers in other ways.

I have no plans on moving so I plan on voting NO.
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  #6  
Old 01-16-2008, 07:49 PM
kathy and al kathy and al is offline
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Default Re: Amendment #1

Thanks "Village Kid" for the referral. Very useful web site, however, still a bit confusing.
Thanks again.
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  #7  
Old 01-16-2008, 09:43 PM
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Default Re: Amendment #1

There is also a summary on the Marion County Property Appriaser's site:

http://www.pa.marion.fl.us/
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  #8  
Old 01-24-2008, 05:49 PM
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Default Re: Amendment #1

Hope to vote today and I've still no solid opinion on the amendment. Yeah, I want lower taxes for me so I like the additional homestead exemption. No, I'm not wild about the transportability of the SOH function --- not really wild about the concept in general. Why should two identical homes, side by side, have vastly different tax bills simply because one was purchased more recently? On the other hand, why should my taxes go up because my neighbors sold their home for an outrageous amount so some guy says my home is suddenly worth 3 times what it was previously? It's the same house, and I ain't selling.

And governments have voracious appetites. They never consider reducing expenditures, just increasing. Nobody ever sought votes by promising to take away a benefit or service, whether it should be provided or not. If we limit one source of income, they'll search for others.

As little as I understand it, I approve of the stipulation reducing taxes on businesses, but really, who cares?

One part of me says that since the teachers' union and various poverty pimps are against the issue, I should be for it. On the other hand, they might actually be right this time. :dontknow:
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  #9  
Old 01-24-2008, 06:11 PM
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Default Re: Amendment #1

This seems to be State goverment imposing a revenue cut for County governments who will then be forced to cut services to consumers. The State office holders will look like heroes but the people will suffer when they have fewer county services. The question to me is, would I rather maintain the level of service I have now or have it reduced and save a couple hundred dollars on my property tax bill. This amendment, if it passes, will put the County governments in crisis. My sense is that they manage their budgets better than the State does.
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