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Florida Property Tax

By
Real Estate Agent with GMAC Real Estate Real Property Group

 

Sorry everyone, I know that I promised this blog a couple of weeks back, so here goes.

Can you believe that it is over 6 months since the Florida Legislature decided to take a look at Property Taxes in Florida.  Yes a whole six months, and what are the results?  The answer is a resounding NOTHING.

We hear every couple of days that this idea has been put forward, and that idea has been rejected.  But where does that leave the homeowners of Florida.

With most of them it leaves them in LIMBO.  There are many people thinking about buying and selling right now, but they really do not want to take that step until the whole issue is sorted out.  This is not helping the local housing market recover, as we need as many buyers as possible.

Having spoken to a few people the real result that they wanted was for the property tax to be abolished, and sales tax increased.  That was never going to happen, that would have left too many local services short on money. 

The alternative I think is to increase the exemption on lower priced properties, and then decrease the exemption on the properties over $1m.  Come on how many properties are there in Florida over $1m?  A lot more than most people realise.  There are some very rich people who live in Florida, and mainly that is because there is no State Income Tax.  So let them spend a small amount of what they are saving in Income Tax on Property Tax.

I am sure that if you asked around you would get 100 different answers to what the Legislature should do.  But in all honesty, I feel that this is going to go on for another 6 months, and the outcome will be nothing.  I am not trying to bash any political party when I say this.  I say it because I honestly do not think that there is an answer that everyone will agree on.

 I will be more than happy to hear your thoughts, and discuss this matter further.

Comments(2)

Michael Thomas
First SEO Consultants - Scottsdale, AZ
Real Estate Website Optimization
Thanks for the info Samantha :o)
Jun 03, 2007 01:18 PM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County
And the wait goes on. When will something happen? When campaign time comes again!
Jun 03, 2007 01:42 PM