Florida's proposed property tax amendment - No Guarantee It Will Pass

Real Estate Agent with Randy J. Chapman FL Lic. Real Estate Broker

 Randy and Dewey

It's no wonder I talk to my hound. I need his advise and how to hound some sense into some of my fellow Floridians.

The proposed tax amendment to be voted on next January gives current Florida residents a choice to keep the "Save Our Homes" exemption they now have or to opt over to the new "Super Exemption." In other words they can have their cake and eat it to.

Yet, a recent poll showed only 55 percent of homeowners favoring the new amendment and since a constitution amendment requires 60 percent, that spells D E F E A T.

Here's what I hear:

"I don't know which to choose."Do I really have to do a math problem online? Anyone needing help, seek out your financial adviser, your banker or even your mortgage company.

"We should be able to transfer "Save Our Homes." Well, you can't do it now so what's the difference. Move from one home in Florida to another in Florida and the sunshine in your current tax exemption is gone. The "Super Exemption" applies to all homesteaded property so when you start making children and need a bigger spread, you will be able to do so.

No one can argue that the concept of not taxing someone out of their home is nice. But, let's face it. "Save Our Homes" doesn't work and it is grossly unfair. One condo can be accessed at $120,000 and the exact condo next door at $420,000 based solely on the date purchased.

If there is one fault with the new proposal, it is that the 75 percent deduction on the first $200,000 is too high. It creates too much disparity between homestead property and second home and investor property.

Oh, I forgot the worse comment of all. "I don't vote because I don't like politicians." Hey, I don't like them either but I vote and you should at the minimum vote to approve the new amendment. As for the politicians, just write in "none of the above."

Randy Chapman


Comments (4)

Linda Reynolds
Bradenton Real Estate - Linda Reynolds - Bradenton, FL
Bradenton Real Estate
I agree, we need to get that passed.  It would certainly help the real estate industry as people won't be locked into their homes because the taxes are so low.  We need something to happen, I just bought a house 2 years ago and my home is assessed double of my neighbors who have been here for years.  Had I been able to take my exemption with me, it would have saved me thousands.
Aug 02, 2007 10:23 PM
Carolyn A. Rzaca
Broker Associate, GRI,SRS,TRC

Portabable of the "Save Our Homes" tax would be our "Savor".  This whole tax situation is truly hurting our industry here in Florida along with the insurance problem; that is another issue for another time.  The new proposed tax amendment is so confusing that the Florida Association of Realtors has planned an educational session on it at our upcoming convention this month. 

Aug 02, 2007 10:52 PM
Scott Daniels Florida Real Estate 2.0. Agents Earn 100% Commission.
Florida List For Less Realty, Inc. Broker/Owner. - Cooper City, FL


by the time the school brds,police and fire fighters get done, there won`t be nothing left of this bill..

Aug 02, 2007 11:14 PM
Allison Stewart
St.Cloud Homes - Saint Cloud, FL
St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904


I agree in part with both comments. Portability is an issue. However, the new Super Exemption lacks a cap which the current Save Our Homes Act provided (3%) 

I think homeowners looking over the proposal are fearful that it can and likely will be raised significantly over what we are currently paying as municipalities decide and vote to raise taxes to cover ancillary service fees like firefighters, police etc. A few Mayors have already voiced projected service cuts prior to the election on January 29th. Are they paving the way for tax increases in anticipation of the Voters Choice to reduce taxes? Perhaps.

Since most municipalities will see an adjustment in November 7-9% and roll back to the 2006 levels, pushing for the Super Sized Tax package could be real trouble down the road. As only a Quorum of County Officials would be needed to vote for increases at that point.

Once abandoning the Save Our Homes (current tax plan), a homeowner cannot revert to the old plan with the safety cap in place. They may save in the short haul only to discover their taxes have doubled in the years following. Reaching for the Brass Ring now could cost a homeowner a lot later.

Aug 02, 2007 11:24 PM