On the same day that the Florida House passed a tax cut bill that looks to go nowhere, the Taxation and Budget Reform Committee has agreed to put on the November ballot a different tax proposal measure. 

The proposed constitutional amendment would make some radical changes to property tax bills.  The amendment calls for an elimination of the portion of the property taxes that pays for schools and in turn increases the sales tax.  For Realtors and real estate investors this is probably a great thing since it will most likely reduce the taxes paid via our industry. The sales tax will put a larger burden on retailers and tourists.  Of course if this leads to a sales tax on services that throws another big burden on top of Realtors and other service providers.

One definite good thing in this amendment is that it puts a 5% annual cap on value increases for non-homestead properties.

There are a lot of big questions about this amendment.  As it gets closer to November if this amendment for sure ends up on the ballot, I will analyze it in detail as I did Amendment 1.  Here is an Orlando Sentinel article on the subject for your reading.

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(Copyright © 2008. Sand Dollar Realty Group, Inc. All rights reserved.)

Rob Arnold, ABR, CPL, CRB, GRI, Managing real estate broker, Licensed mortgage broker, Notary Public

407-389-7318 / 1-877-389-7318    www.SDRhouses.com/   www.WeBuyHousesFlorida.com/

Your full service and investor friendly Realtor in Orlando. Learn to invest in Central Florida real estate and Orlando real estate. Investor mentoring and counseling available. I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Volusia, Brevard, and more.

We buy houses cash, sell properties, and list properties throughout Central Florida and the metro Orlando area.