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tax reform: E-mail from Sen. Evelyn Lynn - 11/02/07 12:24 PM
I appreciate you taking the time to contact me regarding the rising cost of property taxes in our state. The legislature has just completed the final version of legislation that, if the courts approve, will be a Constitutional Amendment on the January 29th ballot. There are five parts to this legislation which are as follows:
Portability - when a homeowner moves into a more valuable home, the entire savings they receive under Save Our Homes is transferred to their new home. If the new home is less valuable, the transferred savings will be proportional to the value of the new home.
2. Double … (0 comments)
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tax reform: Interesting letter from Rep. Domino - 11/02/07 10:15 AM
Save Our Homes (SOH) Portability Update!
I would like to thank each and everyone of you for your support. We have come a long way, since four years ago, when I first filed the portability legislation. Last Monday all of our hard work paid off and both the House and Senate overwhelmingly supported and voted for portability. Even some legislators who voted against the overall tax package were quoted as saying that they did so because it did not provide enough relief.
Locally, Senator Jeff Atwater and Senator Ken Pruitt as well as Democrat Senators Bullard, Deutch and Aronberg supported portability. In the House, Democrat Representatives Brandenburg, Vana, Sachs, … (2 comments)
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tax reform: Latest Tax Solution - 10/31/07 07:41 AM
http://www.orlandosentinel.com/news/local/state/orl-taxes3107oct31,0,1197036.story
The newest solution will finally head out to voters in January. The good news i that there is some protection for non-homesteaded proeprties. The bad news is that it is very, very little. While the 10% cap on job providers and renters sounds good, it is really a measure that will rarely come into play. Without another hyper-growth period like we had in 2004-2005 it may never have any meaningful effect. Further, the portability and increased homestead exemption will increase the effect of the discounts to homesteaded properties and further tax the non-homesteaded.
That's the bad news. The other side of … (4 comments)
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tax reform: New tax plan is a band-aide - 10/10/07 06:35 AM
A Leon County judge decided that the wording in the summary of the newly proposed tax plan was insufficient because it did not clearly state that the Save Our Homes amendment (amendment 10 to Florida's Constitution) would be phased out over time. Rather than correcting the summary language in the ballot, the legislature has decided to go back to the drawing board. According to today's news the results could be catastrophic for job providers, workforce housing, and investors. The new solution is likely to exacerbate the problem that is already in place.
Currently, the entire tax burden is shifted from the homesteaded property … (5 comments)
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tax reform: Florida's Property Tax Cut may be off ballot - 09/25/07 02:29 PM
Today's news that the new property tax reduction may be off the ballot is unfortunate for those in the real estate industry and for those who are trying to sell property in the State. This adjustment is disapointing as it leave the so called Save Our Homes Ammendment (FL Ammendment 10) in full force. That will, of course, cause continued inequities for residential homeowners while disproporionately effecting businesses, second home owners, and renters. While this portion of the legislation would not have fixed the problem in the first few years, it would have helped over the long haul by very slowly elimintaing … (6 comments)
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tax reform: Letter from Rep. Domino - 08/13/07 03:18 PM
This letter was sent to me from Carl Domino. It includes his comments in the e-mail followed by the body of the letter he sent to Rep. Rubio. I post for your information only. Any thoughts are appreciated.
SOH PORTABILITY UPDATE! Current events in the financial markets, particularly the freezing of the sub-prime lending market, make SOH portability more imperative. Attached is a letter which was sent to House leadership requesting that they take up the issue in September's Special Session. Meanwhile, the Special Tax Commission, which is empowered to suggest changes to the constitution, is also considering portability. A … (0 comments)
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tax reform: Save our homes article - 07/25/07 02:10 PM
The link below goes to a fantastic article about the Save Our Homes ammendment. They include links to all of the Central Florida property appraiser's websites, an analysis of the median savings by zip code, and a review of how it effects different people. Have a look below at Ron Rice's information. I thought that was a great graphic.
http://www.orlandosentinel.com/business/orl-special-saveourhomes-sg,0,6529915.storygallery?coll=orl_tab01_layout
… (2 comments)
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tax reform: Letter from Carl Domino on Portability - 06/27/07 09:58 AM
I wanted to forward this letter that was sent to me by Rep. Carl Domino on Portability. I think it's very interesting but I'm not a supporter. I think the portability bill could help our residential real estate market, and I know we all need that. Unfortunately, I think it would have too negative an impact on our local government and on commercial property. I welcome comments.
His e-mail:
SAVE OUR HOMES (SOH) PORTABILITY UPDATE! I was gratified to read in today's news, that Carlos Lacasa, who sits on the State Taxation and Budget Control Committee, believes that my SOH Portability concept should be placed … (0 comments)
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tax reform: Letter from our representative, Pat Patterson, addressing tax changes - 06/26/07 09:09 AM
I'm publishing this letter directly from the e-mail that was sent to me.
From the desk of State Representative Pat Patterson:Dear Neighbor,Over the course of the past six months, you and numerous other like-minded citizens wrote to me to express your views on potential changes to Florida's property tax system. By now you have probably read or heard that my colleagues in the Florida House of Representatives and I passed comprehensive property tax reform last week during a special session of the legislature. Since you were thoughtful enough to contact me with your suggestions, concerns and much-appreciated advice, I thought I would take … (5 comments)
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tax reform: Florida Tax Reform - What does it mean to me? A look at the numbers! - 06/18/07 10:12 PM
Florida Tax Reform - What does it mean to me? A look at the numbers!
Overview
In the State of Florida most municipalities derive most or all of their income from property taxes. Property taxes in the State are determined based on a percentage (millage rate) of the total property value. Each taxing district establishes a millage rate. Taxing districts range by area but typically include the County, City, hospital, and schools as the major expenses. Other taxing districts may include water management, inland navigation, mosquito control, etc.
While the taxing districts are determining their millage rate, the County's Property Appraiser is … (6 comments)
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John Adams
Ormond Beach,
FL
More about me…
Adams, Cameron & Co. Realtors
Office Phone: (386) 253-8044
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This blog is intended to update people who are interested in buying and selling homes, condos, or other real estate in the Volusia and Flagler market. While it is called Real Estate in Daytona Beach Area we will address statistics ranging from New Smyrna to Palm Coast and west to include Deland, Deltona, etc. I will also cover topics regarding investing in residential and commercial real estate. I encourage comments from everyone and am very interested in feedback and opinions.
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