Well so far so good!! The house and the senate agreed on a tax relief package and it will be on the ballot in January. The next step is to make sure all voters understand it and vote YES for the tax relief. Listed below are some of the benefits that the tax relief will provide Florida Homeowners.
Homeowners can now sell their homes, buy new ones, and take "Save Our Homes" tax savings they have earned over the years with them to their new home.
Homeowners will now have an exemption of $50,000 on their homestead as opposed to the current $25,000. This is not applicable to school taxes.
Homestead Assessment Limit:
To remain the same at 3%
Non-Homestead Assessment Cap:
This will limit the annual change in assessments on non-homestead real property to 10% annually. Currently their is no limit.
Tangible Personal Property Exemption:
Exempts tangible personal property at $25,000 per person per county
This will immediately allow people who have been waiting to downsize or upgrade their homes the opportunity to do so without having to absorb a huge tax increase.
We all need to get the word out to vote Yes on the Property Tax Relief.
If you have any questions on the Tax Relief Package, feel free to contact me, Joe Feldkamp, at 561-870-4761