taxes: FLORIDIANS URGED TO VOTE YES ON AMENDMENT #2 TO MAINTAIN TAX CAP
- 05/22/18 02:44 PM
May 22, 2018 – Back in 2008, Florida voters approved a 10 percent cap on annual increases in assessed values of non-homestead properties while exempting the cap on the school district portion. This bill sought to protect investors who own income properties, vacation homes, office buildings and more, from significant increases in annual property taxes. This year, due to some political restructuring, the issue is back on the ballots in the November mid-term elections. If voters reject a proposed constitutional amendment on the November ballot, this 10 percent cap will no longer be in effect and investors could be hit hard in their wallets. Florida TaxWatch projects that … (0 comments)
taxes: MIAMI PROPERTY TAXES AND HOW YOU CAN PAY LESS
- 04/16/18 09:32 AM
As this time of year approaches, the reality of tax season starts to set in. While property taxes are not paid until closer to the end of the year, it’s never too early to be analyzing your situation and what you can do to minimize your burden come November (which is when you’ll receive the largest discount for paying early). Each individual’s property taxes depend on a variety of factors, but ultimately it comes down to your local property appraiser and the assessment they assign to your property. While there are state guidelines for the calculations they come up with, in many circumstances the assessment is up to … (0 comments)
taxes: PITFALLS TO WATCH OUT FOR WHEN DOING 1031 EXCHANGE ON VACATION HOMES
- 03/28/18 10:05 AM
Ever think about swapping out your investment property to something that might make more money or simply be closer to home? Thankfully, if you do, Uncle Sam won’t hit you up right away for his portion of the money you made from the investment.
To qualify for the IRS’ §1031 exchange program, there are some important rules you must follow in order to defer your capital gains taxes when you buy a new investment property. The most important of these is that the property you will be buying must be of “like-kind” to the property you are selling and the property must … (0 comments)
taxes: Despite Chinese Regulations, Investments in Miami Remain Consistent
- 03/09/18 11:05 AM
After analyzing investments made by its citizens in recent years, the Chinese government declared the buying behavior of their citizens within the U.S. market to be “irrational,” and therefore instituted regulations to curb it. Despite a large decrease nationally, with much of the reduction of Chinese investment felt in Los Angeles, Miami’s residential market has largely been spared the reduction stemming from these regulations. The same cannot be said for the effect on Miami’s commercial market, where the affect had been more substantial. Given that these regulations have been renewed for 2018 and could possibly continue indefinitely, it’s uncertain how this will … (0 comments)
taxes: TAX REFORM AND WHAT IT MEANS FOR THE MIAMI REAL ESTATE MARKET
- 11/17/17 11:49 AM
There has been much recent discussion about how the Trump and House Republican’s proposed tax bill will affect the real estate market, what affect it will have on future home sales and the market as a whole.
Miami and the state of Florida falls in a unique position different than many other states, which I will focus on in hopes of breaking down the complexities for my local buyers, sellers and investors. Due to the fact that Florida has no state or local income taxes, proposed changes to eliminate deductions of these taxes will not directly affect locally based Miami homeowners. Given … (2 comments)
May 22, 2018 – Back in 2008, Florida voters approved a 10 percent cap on annual increases in assessed values of non-homestead properties while exempting the cap on the school district portion. This bill sought to protect investors who own income properties, vacation homes, office buildings and more, from significant increases in annual property taxes.
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