Florida Super Homestead Exemption - JUST VOTE NO !!!

By
Real Estate Agent with Florida Future Realty Inc.

When you go to vote in the Presidential primary to choose who will run our great nation... there will also be another vote that is just as important.  This vote will be for the new Super Homestead ExemptionNew Tax Plan... JUST SAY NO !!!

Just say NO to the new tax plan on the superhomestead exemtion.  This amendment will steal millions of dollars from our school systems (Thats right... there is no exemption for schools), local goverments, and state government.

This plan is an attempt to correct the present 3% cap on property tax increases on real property that are presently homestead exempt.

So with the new and flashy homestead exemption you will pay a significant amount less.  For example my taxes would be reduced from approximately $3600.00 to approximately $1200.00.  So at first glance you're thinking oh my gosh... I will save $200.00 a month.

Many of us do have jobs, and pay income taxes too.  Many of us depend on the tax benefits that paying property tax and mortgage interest.

But this is what I see as the big problem...

There will no longer be a cap on the amount of $$$ your property taxes can increase based on the value of your property.

Although we've seen a downward adjustment in values at this time... historically property values will once again increase.  So now you've got this SUPER DUPER HOMESTEAD EXEMPTION now that will save us all.

But oh wow... my property values have started to increase now... maybe the super homestead as fueled the market and now my home value has increased tremendously.

Uh oh... Just got the new property tax bill... My value has increased a lot... I'm going to have to pay a lot of taxes this year... guess I should have kept and voted NO on the super homestead because now my tax rate is going to fluxuate with the value of my real property.

No more 3% cap on how much the local taxing authority can levy me yearly.

JUST SAY NO TO THE SUPER HOMESTEAD EXEMPTION - It's a SCAM that will end up costing Floridian's in the long run.  This is a quick fix... but as time goes on we will be paying taxes without a limit !!!

"Copyright © 2007 by Scott Slocum. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed without the written consent of the author."

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Rainmaker
243,411
Highland Beach Condos David Serle
RE/MAX Services - Highland Beach, FL
Boca Raton Agent David Serle

Scott,

I understand your points, but like everyone else I care about me, and for me it works.  It saves me money, and it is my choice to take off the exemption or not.  If you want to stick with the homestead exemption and the cap you can, but if you think about it if you save $2,400 a year for 5 years under the super homestead exemption that is $12,000.  If the market starts to go up after 5 years it would have to go up around 75% for it not to make sense.  If your property is worth $200,000 and have a tax bill of $3,600 a year and it stayed the same for 5 years and than values started to appreciate for the next 5 years at 75% than your property would be worth $350,000 and your maximum taxes after 5 years would be $4,200, and under the super exemption would be $3,700, but you would have saved $12,000 and still be less after 10 years.   Our school systems are not messed up because the lack of property taxes.  They are messed up because our Florida state government steals our lottery money, and is totally corrupt.  SO why don't we start helping ourselves a little, and spearhead our real estate industry by Voting YES to the Exemption.

Jul 29, 2007 06:11 AM #1
Anonymous
Anne
I voted NO.
Jan 22, 2008 07:15 AM #2
Rainmaker
188,448
Susan Milner
Florida Future Realty, Inc. - Cape Coral, FL
Cape Coral Real Estate Broker, FloridaFutureAgents
LOL, didn't YOU vote YES?
Mar 22, 2008 05:10 AM #3
Rainer
28,156
Scott Slocum
Florida Future Realty Inc. - Cape Coral, FL
Scott Slocum & Associates 239-222-4800, Cape Coral
I voted yes in protest if that makes any sense... With the way legislators are going I figured if this law would pass they would leave the tax issue alone for a while... 
Mar 22, 2008 11:38 AM #4
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Rainer
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Scott Slocum

Scott Slocum & Associates 239-222-4800, Cape Coral
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