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St. Cloud Council Considering a New Law Overide?

By
Real Estate Broker/Owner with St.Cloud Homes

Hot off the press from the Osceola County of Realtors comes an urgent request . According to the Osceola County Association of Realtors "At its meeting scheduled for the evening of September 27, 2007, the St. Cloud City Council will be voting on a final ad valorem tax millage rate and final budget for the fiscal year 2007/2008. The recommendation before the council is to maintain, not reduce, the city's property tax millage rate. In essence, the council would be voting to "override" the new state law that directs local governments to reduce its tax rate by a certain percentage while placing a cap on its future property tax collections." 

Governor Crist signed a "roll back" tax law back in June of this year. Designed to give weiry taxpayers some relief from escalating Property Taxes which have impacted home owners, business owners, and landlords to the breaking point.  Last fiscal year, Property Taxes reached all time highs. In part due to rising Property Values, Resales, and Improvements made following the 2004 Hurricanes which impacted and damaged thousands of properties in Central Florida and Osceola County.  As a result of repairs and improvements made following the three Hurricanes, many homeowners found themselves no longer shielded by the Save Our Homes Property Tax Relief Act, and faced substantial increases in their Property Tax Assessments. In addition the sales of 2005-2006 tripled the value of some properties, which impacted the Assessed Value on homes which were not protected by the Save Our Homes Act.

The roll back called for a 9% decrease in Property Taxes for Osceola County. For many struggling families the tax roll back to the 2006 level would have meant a reduction on average of a few hundred dollars. The fine print allows for the City Council to amend the roll back and is not subject to a public vote.

On September 27, 2007 the City Council will meet to decide whether or not they will raise taxes or follow the guidelines and reduce Property Taxes and millage rates per the law signed by Governor Crist.

Posted by

St.Cloud Homes

Allison Stewart Broker, SFR, CDPE 

407-616-9904www.kissimmee-stcloudflhomes.com

                                                                                                       

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