[riveree]

Originally Posted by tallrick

Vote against the new proposal and you have accomplished nothing. If it passes I am moving to a less expensive county and selling my current home to a sucker. Just have to keep the house under 200K, this new "super exemption" will help redistribute people to less expensive counties. This proposal will reduce home prices in bubble markets like Miami, but I hope that people think about taxes before the next time they bubble up prices.

People are already redistributing themselves to less expensive counties (we have people coming to Jax from South Florida).

I don't see how voting against it accomplishes nothing? We are choosing whether we want it or not and majority wins, every vote counts (in theory anyway ). I seriously don't want them to take away SOH, so my vote will accomplish something there.

Don't get me wrong, I don't love the current system - I think it has huge flaws - but I think this amendment is equally flawed.

[tallrick]

The alternative is to all get together in a county and sell homes among each other for 25,000. If any Miami investors or northeasterners try and buy a property for big money, just have them visit the gator attraction and disappear during feeding..LOL!

[Dee2e]

Originally Posted by riveree

As I find out more and more, I am fully convinced that this is a bad, bad idea.

I am absolutely voting AGAINST the Super Exemption. Here's why:

If the exemption goes through, it will be retroactive to January 1 2008.

ANY HOME BOUGHT ON/AFTER JANUARY 1 2008 WILL NOT BE ALLOWED A CHOICE OF EXEMPTIONS!

So what does that say? It says that the master plan is to completely do away with the 3% cap.

If you think there is even a remote chance you might buy property after January 1, 2008, you need to really think about this one. You might think you'll stay in your existing home, but you may have to move sometime in the future and you will LOSE your SOH exemption. This means there will be NO CAP on the taxable value of your home.

If we were to ever see back-to-back years of home value increases like we just had - 17%, 18% increases - it COULD happen again - the Super Exemption benefit would be eclipsed by the old SOH exemption.......only now, most Floridians would no longer have the SOH exemption.

You can believe the politicians who want this amendment to go through are seeing dollar signs .

I have to say I agree with this post completely. I've tried to get specific answers to questions about this bill and cannot. The effects on local taxes and services are still unknown throughout the State.

I'm all for a change but it must be the right change, not just a change.

In my County, according to the webite from our local paper, if this passes and property rises any year in the future above 1.25% and I am keeping my home, I'm better off with the current structure. Nationwide traditional averages are 1-1.5%, in Florida, they are 5%. Of course there are always years where that figure jumps out of sight, like it did in 2003-2006. However, in the long run, Florida sales have pretty consistent growth at a higher than national average.

I can't vote for something with so many unknowns.

[kwick release]

The politicians are not stupid. They are using the increased super exemption as a carrot to tempt the masses into giving up their SOH. It reeks of political slight of hand and smoke and mirrors to me. Beware, 5-7 years from now when the real estate market starts roaring again, we will wish the SOH was still in place.

[macguy]

Originally Posted by Dee2e

I have to say I agree with this post completely. I've tried to get specific answers to questions about this bill and cannot. The effects on local taxes and services are still unknown throughout the State.

I'm all for a change but it must be the right change, not just a change.

In my County, according to the webite from our local paper, if this passes and property rises any year in the future above 1.25% and I am keeping my home, I'm better off with the current structure. Nationwide traditional averages are 1-1.5%, in Florida, they are 5%. Of course there are always years where that figure jumps out of sight, like it did in 2003-2006. However, in the long run, Florida sales have pretty consistent growth at a higher than national average.

I can't vote for something with so many unknowns.

You would rather stay with essentially no homestead exemption which is about what the current $25,000 is in todays market? You are allowing yourself to be spoon fed by people who don't want to see it change. The use of fear is an easy way to manipulate people, it works. Believe me this will not be visited again once this vote take place if rejected. Want something to be afraid of.

If this doesn't pass, their next solution would be to drop the SOH all together because it "IS" an unfair system and just spread out the costs equally. Now you are really stuck. A large fair deduction with the tax burden shared by all is the only fair way that works. So if you reject this, don't start complaining when the next discussions are to drop the SOH and it will be. It's ridiculousness is obvious to everyone, all it will take is an effort and they may very well may dump it. So now you do have something to be afraid of, another unknown.

[dcb11]

I'm confused here as a Pennsylvanian looking to relocate to Florida in the near future what does this mean. I have been looking around for jobs for a while now and still like the idea of Florida becoming my home but what is my family and I looking to get into and if someone here can also explain any other taxes that Florida has I would appreciate it.

PLMK

thanks

confused in PA

[davidLi]

Now that I am a true Florida resident here is my thought.
Property tax here is way out of control.
I will vote for the super exemption. I think that most changes to the tax structure are short lived anyway and if it presents a problem several years down the road it will be modified again due to voter outcry.
Why not do away with property taxes all together and put the responsibility on everyone not just the property owners.
Florida could consider a 2% assumption tax on all items, with the exception of automobiles, home purchases, and gasoline, your usual largest purchase.
So you have to pay 2 cents more on the dollar for a cola, so your 1.00 bottle of coke would now cost 1.08 not 1.06. This would get funds from everyone even tourist that use the roads, the services etc.. not just the homeowners.
As for me I think this option has great potential and could bring in much more funds that a standard property increase could and bring in more on hand cash for property owners, attract more home buyers and businesses as more home buyers will be present.
Just a thought

[Dee2e]

Originally Posted by macguy

You would rather stay with essentially no homestead exemption which is about what the current $25,000 is in todays market? You are allowing yourself to be spoon fed by people who don't want to see it change. The use of fear is an easy way to manipulate people, it works. Believe me this will not be visited again once this vote take place if rejected. Want something to be afraid of.

If this doesn't pass, their next solution would be to drop the SOH all together because it "IS" an unfair system and just spread out the costs equally. Now you are really stuck. A large fair deduction with the tax burden shared by all is the only fair way that works. So if you reject this, don't start complaining when the next discussions are to drop the SOH and it will be. It's ridiculousness is obvious to everyone, all it will take is an effort and they may very well may dump it. So now you do have something to be afraid of, another unknown.

My concern is not getting a straight answer from those claiming to be "in the know". For me, voting for the unknown is just not going to cut it. And for what I do know, the calculators tell me that unless you are selling every two or three years and will homestead the property this is a bad move. I am not in that category. I bought the home I plan on retiring in back in 1991. I'm not going anywhere. For me, the calculators tell me that it would not be in my best interest to give up SOH. I used the calculator in our local paper and ran the numbers for the next 25 years. I most likely won't live longer than that. They tell me that if appreciation is very very low, below the National historical average, that dropping would be good for me. However, it that is not true my taxes will rise drastically. However, everyone must vote as they feel it suits them.

As I previously said, the unknown costs and cutting of county and city services is the biggest factor in how I will vote. I can't vote based on what is unknown.

I don't think your comments on dropping SOH all together amount to anything but your opinion, as are my comments my opinion.

Of course, we are all entitled to our own opinions. Every voter will decide from themselves how they will vote, as it should be.

My opinions are my own, I am not being spoon fed by anyone.

[macguy]

Originally Posted by kwick release

The politicians are not stupid. They are using the increased super exemption as a carrot to tempt the masses into giving up their SOH. It reeks of political slight of hand and smoke and mirrors to me. Beware, 5-7 years from now when the real estate market starts roaring again, we will wish the SOH was still in place.

What are you talking about, the politicians don't care at all about SOH. SOH is constantly resetting itself anyway to the current market as people do things. Other then someone who lives in their house forever it doesn't even matter, it is a self correction system with the tax payer getting $crewed as they try to better themselves or downsize.

The politicians hate the idea of the super deduction and having to shave their budgets. They would rather have things stay exactly as they are. They probably can't believe themselves they have been forced offer this and now are waging a campaign of scare tactics to try and defeat it to keep things as they are.

[Dee2e]

Originally Posted by davidLi

Now that I am a true Florida resident here is my thought.
Property tax here is way out of control.
I will vote for the super exemption. I think that most changes to the tax structure are short lived anyway and if it presents a problem several years down the road it will be modified again due to voter outcry.
Why not do away with property taxes all together and put the responsibility on everyone not just the property owners.
Florida could consider a 2% assumption tax on all items, with the exception of automobiles, home purchases, and gasoline, your usual largest purchase.
So you have to pay 2 cents more on the dollar for a cola, so your 1.00 bottle of coke would now cost 1.08 not 1.06. This would get funds from everyone even tourist that use the roads, the services etc.. not just the homeowners.
As for me I think this option has great potential and could bring in much more funds that a standard property increase could and bring in more on hand cash for property owners, attract more home buyers and businesses as more home buyers will be present.
Just a thought

David, I agree with you. I'd like to see a sales tax instead of real estate tax too. I'd actually like to see this in place of FIT too.

Good comments.