The House and Senate just completed their 60th day in legislative session and have some exciting things on the horizons for buyers. However, the 2009 regular session of the Florida Legislature has been extended for a full week to finalize the budget. So while there is still some finalizing to do, all non-budget legislation had to be considered for final passage today if it was going to have a chance of becoming law.
More details are coming but one of the final bills considered tonight was SJR 532. This constitutional amendment will ask voters to limit increases in property tax assessments on all non-homestead properties to 5 percent annually.
First-time homebuyers could benefit, too, with an additional homestead exemption up to $100,000.
HB 521, the bill that puts the burden of proving that a property tax assessment is correct on the appraiser, not the property owner, I think this bill is great but how biased would the tax assessor be when showing the true value.
And last but not least when the budget is finalized next week, there will be $30 million for downpayment assistance to help "front load" the federal first-time homebuyer tax credit. Sounds like great news to come.
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