Three tax plans in play

In concept, legislators have decided they want to create some type of super homestead exemption that would phase out Save Our Homes, the 3 percent cap on assessments that has been a blessing and a burden. The trick now is deciding which of the three super homestead exemption plans to pursue when the Legislature's top tax negotiators meet again June 4. More here.

Comments

The Save Our Homes programs really kicks in the teeth of the under-30 homeowners who have recently arrived to the market. There will have to be a more equitable property tax system in this state.

Our legislators still are not focusing on the business and landlords who are the most affected by the current tax inequities. When will they actually govern instead of pandering to the masses?

Everybody who's getting re-elected step forward. Wait, not so fast there 8:52...

Everyone with false bravado step forward. That would be you 9:01.

SOH doesn't kick you 30-somethings in the teeth nearly as much as the basic rise in property values.
Yes, the market is tough for new homebuyers, regardless of age.
Is that something government really should be involved in leveling out?

10:32 -

Yes, the government should not be taxing younger generations and new-to-Florida residents at a higher rate (compared to property value) than others.

My local city enjoyed a doubling of the tax income from my property when I bought. And while a different discussion, they are still talking about adding back an older property tax for health care... If I need to live within my means, so should they... A review of the city's tax revenues shows it doubling in the past 5 or 6 years alone.

[Gene Smith]

If you believe the voters of this state will repaeal Save Our Homes, I want some of what you are smoking. Even the House leadership has figured out that isn't going to work.

The vast majority of the voters out there are the very people who benefit from Save Our Homes. Do you really think you can get 60% of them to vote for repealing it?

[Raymond Dio]

Amazing how snowbirds sell their heavily taxed homes in NY/NJ for obscene profits, move to Florida, then immediately start grousing about being treated unfairly. You knew what the taxes were going to be when you bought here, don't like it? Move back. Please. Soon...

[Mencken Jr]

Actually, we should be taxing people moving into the state *more* instead of less. Then they'll move somewhere else and we'll get some breathing room w.r.t. our water supplies, and the developers can dry up and blow away to some other place.

[D R]

THE STATE TRIED THAT WITH CARS WHEN THEY CAME INTO THE STATE FROM OTHER STATES, CHARGING SOMETHING LIKE $500. PEOPLE SUED AND THE STATE LOST ON THE BASIS OF IT HINDERING FREE MOVEMENT BETWEEN THE STATES.

I really like Mencken's idea.
Yes, it costs more now to come here than it used to.
Microsoft stock costs more now than it used to, but we don't expect to be able to buy it at the old rates.
It's not the taxes that make it cost so much, it's the property value. And for way too many people, it's still not enough to be a problem.
If you didn't buy early, it's too bad. But that's reality.

[D R]

PROPERTY TAX IS SUPPOSED TO BE BASED ON THE CURRENT VALUE OF THE PROPERTY, NOT WHAT YOU PAID FOR IT YEARS AGO. THE SAVE OUR HOME TAX CAP HAS SHIFTED THE TAX BURDEN TO PEOPLE THAT RECENTLY BOUGHT HOMES, SOME OF WHOM WERE SMALL CHILDREN WHEN THIS WENT INTO EFFECT AND RENTORS AND COMMERCIAL PROPERTY OWNERS. THE PEOPLE THAT HAVE LOW PROPERTY TAXES BECAUSE OF SOH FOR, THE LARGE, PART DON'T CARE THAT OTHER PEOPLE ARE SUPPORTING THE LARGEST PART OF THE TAX BURDEN, AS LONG AS YOU "KEEP YOU HANDS OFF OF MY PIE". THIS MAY BE "REALITY" BUT THERE IS NOTHING FAIR ABOUT IT.

[Paul D. Harvill]

Interesting analysis of the three main plans.

.......

Alex Leary,

Thanks for the analysis. Helped me a lot to better understand the basics as these plans are otherwise quite complicated in how they may impact all local governments, special districts, regional agencies and state government.

Paul

[Paul D. Harvill]

By the way, those who think I am posting while working at the Florida Abuse Hotline, please note that I am on vacation.

[taxedToDeath]

Everyone gets hurt by the current system. The local governments are spending like drunken sailors and destroying the economy. Here are a couple of real world examples to illustrate:

a) My wife (a realtor) has lost half a dozen deals in the past year that she had under contract when the buyers found out what their property taxes would be. The buyers simply decided not to move from their present homes or else decided not to move to the state.

b) We own a couple of rental properties and we are losing thousands of dollars on each one because the property taxes and insurance are now eating all of the margins. We can't sell them because who would be a renter when rental property loses money 100% of the time? Better to keep your money in the market...

c) No one can move out of their homes because of the massive increases in taxes even if they moved into the same priced home, forget about a larger home.

I can't understand the mindset of people who want other classes of people to get soaked with taxes whether it's people looking to move into the state, or people who are well off or business owners, etc. The simple fact of the matter is that local government spending is out of control. They are taking our money at up to 10x the rate of inflation and then tell us it must have even more!

We have situations where whole populations are trapped, the government is taking so much money that people no longer have the freedom to move, to grow, to expand. In another 5 years taxes will have doubled again and again 5 years after that. I don't know about you guys but in 10 years I won't be making 4x what I'm making today so why should my taxes be doubling every 5-6 years?

[Dale]

Well one thing that is REALLY true out of all this, our salaries have NOT increased to go along with the housing increase. Some of you high income smug people who are saying it is all fair and we should shut up and live with it are just plain ignorant and self serving as it is not fair to the average worker. The housing market did not increase normally, it was falsely increased by investors (flippers) and realtors and property appraisers.