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Does Anyone Understand The "Tax Reform Act"

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Real Estate Agent with Prudential Chaplin Williams Realty

Well, every time I think I'm getting a "handle" on this new Florida "Tax Reform Proposal", I go to another meeting and find out the water is "muddier" than before. We attended a class yesterday at our local Board of REALTORS that was presented by Greg Haddock, Nassau County Property Appraiser. He handed out some "understanding the tax proposal" forms, but we all left there "scratching our heads.

 There will soon be some big decisions to be made by property owners, do you keep the "Save Our Homes" Homestead Exemption or do you change to the "Super Exemption"? Once you make the change, there is no going back.  As I mentioned in my last entry, we are excited that the local government is behind this and we are pleased that there may be some property tax relief in the horizon, but more education is needed to better inform the public.

Karen

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Terry Haugen STAGE it RIGHT! 321-956-2495
Stage it Right! - Melbourne, FL
Karen and Paul, I don't think there is a homeowner in this state that understands it, and maybe thats exactly what the legislature wants.  Keep the people confused so they think something is being done to lift the burden of taxes and insurance.  One thing is for sure, insurance is not bein addressed, other than Charlie Crist saying he's disappointed the insurance companies are not voluntarily reducing rates.  DUH!  They gave him how much in campaign contributions?  All told, the republicans got around $5 million toward their campaigns.  So who in Tallahassee is going to address insurance?  I am organizing a vote NO on the referendum in January.  I think in the long run the super exemption is going to end up costing us more in taxes.  Afterall, my 25k exemption now saves me less than $200 a year.  My SOH is what keeps my taxes from going off the charts.
Aug 02, 2007 12:57 PM
Anonymous
Karen Werling

Terry,

I agree.....I also feel that the proposal will not pass due to "confusion" and it will continue to be "tweaked" for quite a while. The "super saver" exemption is such a small amount when you consider some of the current property taxes and if you choose that option, you no longer have the "cap" on the taxes...so, you're right...eventually, it will mean higher taxes.

 Insurance!....now, that's another whole topic, isn't it?!

Karen

 

Aug 02, 2007 02:18 PM
#2
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