Property Taxes
Florida Property Taxes - Will They, Won't They Pt. 3
06/15/07 10:52
The new plan mentions nothing about rolling back values to 2003, and nothing about eliminating property taxes and supplementing them with a higher sales tax. Instead, we're left with a plan that gives you a choice: slightly reduce your property taxes, or stay with the 3% yearly increase cap of the current 'Save Our Homes' plan (insert thunderous applause here).
The new plan would save taxpayers only about $8 billion over five years, analysts said, and is expected to save the average homeowner 7 percent on tax bills this fall. But the $174 average first-year savings would climb to at least several hundred dollars per year for many homeowners if the expanded homestead exemption gains approval. Needing no voter approval, a $15.6 billion rollback of city and county property-tax collections also was approved by lawmakers Thursday.
Haven't had enough? Here are a few more articles for your reading pleasure:
Tax Cut; New Fight Looms - Orlando Sentinel
Legislature Passes Tax-Cutting Plan - Orlando WESH TV2
Florida Lawmakers Approve Tax Cut Bill - MyFOX Orlando
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I Can Haz Proprty Taxz - lolcats
06/04/07 20:09
Florida Property Taxes - Will They, Won't They Pt. 2
05/30/07 08:45
Last week, Gov. Crist vetoed a $459m spending budget, and House Democrat Leader Dan Gelber suggested using the savings to cut property taxes, but House Speaker Marco Rubio, said the suggestion is unsound.
“Unfortunately, following your suggestion of using the money saved by the Governor’s vetoes would violate not just a principle of responsible budgeting but also the wishes of the people of Florida as reflected in our state’s constitution,” Rubio, R-West Miami, wrote in a letter dated Friday.
“Given sound budgeting principles and constitutional budget restraints, I encourage you to consider other recurring expenses as an opportunity to reduce property taxes,” Rubio wrote.
Crist had some fun last week signing into law a $71.5 billion state budget after vetoing spending items such as local cultural projects and a 5% tuition increase for college students. This same budget includes a $545m increase in the state's required local property tax for public schools. There will be a special session on June 12-22 to cut city and county property taxes - can't wait!
Now is it just me, or does this seem to be completely different from the grand promises made in Orlando a few short weeks ago. Stay tuned for another
Related Articles:
Will They, Won't They Part 1 - Ekday
Property Tax Update - The Insider Real Estate Blog (Tampa)
Property Tax Update - SouthWest Florida Real Estate News
Florida Politics News for 4/30/07 - FLA Politics
Orlando Town Hall Meeting - Ekday
Florida Property Tax Reform Debate Continues - The Tax Foundation
Florida Property Taxes - Will They, Won't They Pt. 1
05/17/07 19:19
Raise your hand if you're tired of waiting to hear
what the government is planning on doing about your
property taxes. Wow - everyone has their hands
raised.
Well, here's another edition of the Florida Property tax update - a new segment we're calling "Will They, Won't They." According to today's Orlando Sentinel, the House-Senate committee discussing Florida property values still hasn't reached any conclusions (no big surprise there). The big news is they've tentatively agreed on a method to use - expand existing exemptions, such as homestead, and create new ones for non-homestead properties.
This news followed and earlier update from the House Democrats touting their plan for property tax reform, which would exempt 50% of a home's value if it's homesteaded, and 25% for non-homestead properties up to a max of $250,000 for larger commercial properties.
The House Republicans have a different suggestion with more dramatic exempt amounts.
It seems the main thing holding everything up is the amount of the exemption. A meeting of the joint House-Senate will take place on Monday, May 21st, at 1pm in Tallahassee, and another interim meeting scheduled before the full Legislature returns for a special session Jun 12-22.
As always, we'll keep you up to date on this battle. Tell us your thoughts in the comments section, or better yet, call Bill Nelson (our Senator) at (202) 224-5274, and tell him your thoughts, then post what HE said in the comments.
Well, here's another edition of the Florida Property tax update - a new segment we're calling "Will They, Won't They." According to today's Orlando Sentinel, the House-Senate committee discussing Florida property values still hasn't reached any conclusions (no big surprise there). The big news is they've tentatively agreed on a method to use - expand existing exemptions, such as homestead, and create new ones for non-homestead properties.
This news followed and earlier update from the House Democrats touting their plan for property tax reform, which would exempt 50% of a home's value if it's homesteaded, and 25% for non-homestead properties up to a max of $250,000 for larger commercial properties.
The House Republicans have a different suggestion with more dramatic exempt amounts.
It seems the main thing holding everything up is the amount of the exemption. A meeting of the joint House-Senate will take place on Monday, May 21st, at 1pm in Tallahassee, and another interim meeting scheduled before the full Legislature returns for a special session Jun 12-22.
As always, we'll keep you up to date on this battle. Tell us your thoughts in the comments section, or better yet, call Bill Nelson (our Senator) at (202) 224-5274, and tell him your thoughts, then post what HE said in the comments.
Florida Property Tax Reform Update
05/10/07 12:21
I'm very short on time today, but I wanted to make
sure and give you an update on the tax reform
session. The Associated Press finally released a
statement today regarding the reforms, and instead of
a recap, I'm just going to post the entire release.
The following is the release from the AP:
TALLAHASSEE, Fla. (AP) – May 10, 2007 – House
and Senate leaders Wednesday formally called a
special session on property tax relief for June 12-22
and appointed a joint committee to draft proposed
legislation in the interim.
Senate President Ken Pruitt, R-Port St. Lucie, and House Speaker Marco Rubio, R-West Miami, had announced plans for the special session last week after the chambers were unable to sort out their differences on the issue with only two days left in the 60-day regular 2007 session. It ended last Friday.
The joint committee is scheduled to meet May 21 to review and discuss options and June 4 to present proposed legislation.
Rep. Dean Cannon, R-Winter Park, who will head the House side of the joint committee, said he has spoken with Senate Majority Leader Dan Webster, R-Winter Garden, since the regular session and they plan to continue their conversations before the first committee meeting.
“We’ve got sort of an open line of communication,” Cannon said. “We’re definitely moving in the right direction.”
Cannon declined to disclose details of that direction.
Lawmakers are trying to find a solution to soaring tax bills resulting mainly from rising property values. They also are looking at inequities in the system that have resulted in some taxpayers getting bills many times higher than neighbors with similar properties.
Pruitt and Rubio called the special session to deal exclusively with property taxes, and they have been adamant that lawmakers should focus only on that issue.
Gov. Charlie Crist has said he may expand the session, though, to include auto insurance and children’s health insurance issues, but he has not yet made a decision.
Florida’s no-fault auto insurance law will expire Oct. 1 unless the Legislature passes a law to continue it.
If the law expires, crash victims may have to file lawsuits against at-fault motorists to get their medical expenses paid. The existing system pays the first $10,000 of those expenses regardless of who is at fault. Insurers say the system is so rife with fraud it should be allowed to expire.
Some lawmakers have urged Crist to include legislation simplifying the state’s KidCare children’s health insurance program. Advocates say its complexity has caused thousands of children to needlessly go without coverage.
During the regular session, both chambers offered tax-cutting plans that included rolling back taxes to a prior year and then capping them with allowances for growth and inflation or increases in personal income.
Those plans differed on the details, but the House also passed a Republican-backed proposal that would have slashed or eliminated property taxes on primary homes, known as homesteads, in exchange for increasing the statewide 6 percent sales tax to as much as 8.5 percent.
Most House Democrats and senators of both parties strenuously objected to the tax swap.
The chambers also were far apart in taxpayer savings. When negotiations broke off, the Senate was at about $20 billion over five years and the House at nearly $50 billion in the same span.
Crist has entered the debate with his own $34 billion proposal, essentially splitting the difference, but without a tax swap. The governor said he has been calling lawmakers since the regular session ended to push his plan.
Senate President Ken Pruitt, R-Port St. Lucie, and House Speaker Marco Rubio, R-West Miami, had announced plans for the special session last week after the chambers were unable to sort out their differences on the issue with only two days left in the 60-day regular 2007 session. It ended last Friday.
The joint committee is scheduled to meet May 21 to review and discuss options and June 4 to present proposed legislation.
Rep. Dean Cannon, R-Winter Park, who will head the House side of the joint committee, said he has spoken with Senate Majority Leader Dan Webster, R-Winter Garden, since the regular session and they plan to continue their conversations before the first committee meeting.
“We’ve got sort of an open line of communication,” Cannon said. “We’re definitely moving in the right direction.”
Cannon declined to disclose details of that direction.
Lawmakers are trying to find a solution to soaring tax bills resulting mainly from rising property values. They also are looking at inequities in the system that have resulted in some taxpayers getting bills many times higher than neighbors with similar properties.
Pruitt and Rubio called the special session to deal exclusively with property taxes, and they have been adamant that lawmakers should focus only on that issue.
Gov. Charlie Crist has said he may expand the session, though, to include auto insurance and children’s health insurance issues, but he has not yet made a decision.
Florida’s no-fault auto insurance law will expire Oct. 1 unless the Legislature passes a law to continue it.
If the law expires, crash victims may have to file lawsuits against at-fault motorists to get their medical expenses paid. The existing system pays the first $10,000 of those expenses regardless of who is at fault. Insurers say the system is so rife with fraud it should be allowed to expire.
Some lawmakers have urged Crist to include legislation simplifying the state’s KidCare children’s health insurance program. Advocates say its complexity has caused thousands of children to needlessly go without coverage.
During the regular session, both chambers offered tax-cutting plans that included rolling back taxes to a prior year and then capping them with allowances for growth and inflation or increases in personal income.
Those plans differed on the details, but the House also passed a Republican-backed proposal that would have slashed or eliminated property taxes on primary homes, known as homesteads, in exchange for increasing the statewide 6 percent sales tax to as much as 8.5 percent.
Most House Democrats and senators of both parties strenuously objected to the tax swap.
The chambers also were far apart in taxpayer savings. When negotiations broke off, the Senate was at about $20 billion over five years and the House at nearly $50 billion in the same span.
Crist has entered the debate with his own $34 billion proposal, essentially splitting the difference, but without a tax swap. The governor said he has been calling lawmakers since the regular session ended to push his plan.
Florida Property Tax Reform - Town Hall Meeting with Gov. Charlie Crist
04/26/07 07:20
If you're in Florida, and you haven't heard about the
Property Tax Reform proposal, you're living under a
rock. This is an extremely hot topic - so I thought.
Florida Governor, Charlie Crist, visited Valencia
Community College in East Orlando yesterday evening.
I expected a tremendous turnout, but sadly, less than
a hundred residents and Realtors attended. I was
there with my video camera, and decided to share the
entire presentation with you.
The Governor does a decent job outlining the proposal, and different options, followed by questions from the public. Everyone in Florida, or anyone considering moving to Florida, should watch this in its entirety, and email this to all of their friends and family. In 9 days, the face of Florida real estate could be forever changed. Here is the speech in 5 parts, each lasting roughly 10 minutes:
So what are your thoughts? What would you like to see happen? Are you for or against an increase in sales tax? Please share your opinions in the comments, and don't forget to share these videos!
The Governor does a decent job outlining the proposal, and different options, followed by questions from the public. Everyone in Florida, or anyone considering moving to Florida, should watch this in its entirety, and email this to all of their friends and family. In 9 days, the face of Florida real estate could be forever changed. Here is the speech in 5 parts, each lasting roughly 10 minutes:
FL Property Tax Reform - Part 1
FL Property Tax Reform - Part 2
FL Property Tax Reform - Part 3
FL Property Tax Reform - Part 4
FL Property Tax Reform - Part 5
So what are your thoughts? What would you like to see happen? Are you for or against an increase in sales tax? Please share your opinions in the comments, and don't forget to share these videos!
Florida Property Tax Crisis
04/25/07 15:46
Submitted by Eamon Mooney
Second, roll back property taxes to the year
2001 values. This is a great short-term fix that
would stimulate the market, helping first time buyers
and those on the fence wanting to move, but can't
afford the taxes on the new home at the current
rates. The question is how long until the government
needs that money, and how will they get it? Our local
government has become accustomed to bigger bank
accounts. They would need to be restructured from top
to bottom, and many belts tightened. We've all heard
this before. In my opinion, this will never pass due
to the fact that it is too open for arguments on the
floor. Everyone, including yours truly, will have a
different opinion, which will lead to nothing getting
done.
Finally, a transportable home value or homestead value. This makes the most sense for Floridians. First-time home buyers, and transplants to FL, are left out in the cold. This will help all current homeowners in FL. who are homesteaded. With homestead, your taxable property value is decreased by $25,000 and can only go up 3% annually, keeping a lead on what your local government can collect from you. This has great longterm effects, especially in a booming market. There is also talk of increasing the homestead amount to $50,000. This, with a roll back in taxable values to the year 2001, could be just what the marketplace
needs to stimulate buyers. Both of these
methods combined would help current home owners,
first-time buyers, and transplants to Fl. I just
don't see it getting done this session or in any
session soon. There are just too many opinions or
points of view in all the offices needed to get this
done. Can you say filibuster?
For those in the Orlando area, Govenor Charlie Crist will be hosting a meeting on this subject on April 25th, 2007 in Orlando at Valencia Community College, East Campus, building 5,
701 N. Econlockhatchee Trail 6pm to7:30pm. Show up and let him know enough is enough when it comes to our property taxes. We'll be there, and try to have video coverage posted on our site tomorrow.
The Promise
Here in Fl, the big thing is Govenor Charlie Crist's promise to get property taxes under control. I am Optimistic that the Governor, the Speaker, and the Senate will be able to get this done before sessions end. Lets look at the proposals. First, increase sales tax by 2.5% and get rid of your property tax. This sounds great, but the more I look at it, the more loop holes open up. What is to stop investors from buying up a large portion of a county. With the investors living out of that county, spending thier money elsewhere, how high will your sales tax get. I know people will say, "Well, the tenants will pick up the taxes for that home." Lets take a small, 2 bedroom house, 1,100 sq ft. for example, valued at $185,000 with a millage rate of .0189. As it stands now, the owner would pay approximetly $2,972 to the county for property taxes (home value, at 85% for appraised value or taxable amount times millage rate of .0189). This means the tenant would have to spend $146,600 for the county to recive the same amount of money it is currently reciving. If this is an owner ocuppied home, then the homestead exemption ($25,000) would drop the taxes due to $2,490 ($185,000 * .85% = $157,250 - $25,000 = $132,250 * .0189 = $2,499). I don't see any county giving up that much money. When you take a county by county view of average income, you see that it's impossible for a home owner or tenant to spend the amount needed to generate the same amount of tax money for the county Government.
Finally, a transportable home value or homestead value. This makes the most sense for Floridians. First-time home buyers, and transplants to FL, are left out in the cold. This will help all current homeowners in FL. who are homesteaded. With homestead, your taxable property value is decreased by $25,000 and can only go up 3% annually, keeping a lead on what your local government can collect from you. This has great longterm effects, especially in a booming market. There is also talk of increasing the homestead amount to $50,000. This, with a roll back in taxable values to the year 2001, could be just what the marketplace
For those in the Orlando area, Govenor Charlie Crist will be hosting a meeting on this subject on April 25th, 2007 in Orlando at Valencia Community College, East Campus, building 5,
701 N. Econlockhatchee Trail 6pm to7:30pm. Show up and let him know enough is enough when it comes to our property taxes. We'll be there, and try to have video coverage posted on our site tomorrow.