Saw some great articles this weekend talking about the recently passed property tax amendment. I also happened to move this past year so I was doubly interested in finding out what was REALLY going on. It seems as if most property appraiser web sites have some good information regarding the recent amendment. I found the one from the Leon County Property Appraiser site to be particularly helpful. You can find it here: Leon County Property Appraiser - Portability.
While I am not certain that this amendment fixes much of anything, there are some benefits to be had. For those of us in the business it is critical to know how this can help.
First, it can help if you are currently homesteaded. For Leon County you are probably going to save $273 per year, on average (provided they don't raise taxes to offset this). For those who are going to move, the savings could be VERY significant. If you have lived in your current homestead for more than a handful of years and are planning on moving to another homestead, you are eligible to take up to $500,000 of your Save Our Homes (SOH) exemption with you. Depending on the taxes in your county and how long you have owned your home, the saving can be VERY significant!