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Old 11-02-2006, 12:27 PM
 
1,418 posts, read 9,369,029 times
Reputation: 914

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Quote:
sell your house (which won't sell now because no one can afford to insure it or pay the property taxes!)
Um, I'll buy it. Maybe not for the price you're asking, but me, and a bunch of other people in this state, will gladly releave you of your burden.

Also, I hear alot of complaining about high taxes by people who are living in their homes. However, homestead property is capped at 3% increase of value/year, regardless of how much your house appreciates. This is about the same rate of inflation, and the same rate that wages get increased.

I would be the first to agree that the increase in homeowner's insurance has been really rough for many of us.

What I hear is "my taxes are too high and I can't afford to live here any longer"

What I believe is really going on is that there are people out there that purchased houses that were beyond their means on variable rate, or interest only mortgages, their payments have jumped up, and now they can't afford to keep their homes. Just my (not-so-humble) opinion.
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Old 11-02-2006, 12:37 PM
 
Location: Beautiful South Florida!
243 posts, read 1,011,492 times
Reputation: 106
[quote=ponytail;149078]
Quote:
Originally Posted by s01 View Post
I'm headed out ASAP (soon as the house is sold) headed to NH. No state tax, not as many ridiculous government fingers dipping into my rights as a citizen, and no capital gains tax! (Florida is something like 15-20%!)
QUOTE]Article No: 502 (Revised: 12/11/2001 )

Regarding Florida having a capital gains tax...
From the Florida Department Of Revenue...

Question: Does Florida have a capital gains tax?
Answer: The Florida income tax code piggybacks the federal income tax code for treatment of capital gains of corporations. The State of Florida does not have an income tax for individuals and, therefore, no capital gains tax for individuals.



Actually Florida does have an Intangible Tax, I think this is what he meant. Interests such as stocks, corporate bonds, and interests in LLC's are taxed at $.50 per $1000 of value for values above $250K for individuals and $500K for joint filings. Holdings are exempt when their values are below these amounts.
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Old 11-02-2006, 12:47 PM
 
4,948 posts, read 16,528,216 times
Reputation: 2866
Default intangible taxes

[quote=SunnyDog;149144]
Quote:
Originally Posted by ponytail View Post




Actually Florida does have an Intangible Tax, I think this is what he meant. Interests such as stocks, corporate bonds, and interests in LLC's are taxed at $.50 per $1000 of value for values above $250K for individuals and $500K for joint filings. Holdings are exempt when their values are below these amounts.
i think florida got rid of that tax.
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Old 11-02-2006, 12:49 PM
 
Location: Beautiful South Florida!
243 posts, read 1,011,492 times
Reputation: 106
[quote=maggiekate;149162]
Quote:
Originally Posted by SunnyDog View Post
i think florida got rid of that tax.


It'll be repealed effective January 1, 2007.
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Old 11-02-2006, 12:54 PM
 
Location: FL
1,943 posts, read 7,788,633 times
Reputation: 2262
I have to admit I like where I live. Good county, good schools, 10 minutes from beaches, and my husband and I both have jobs. BUT, I am leaving. I can't afford to own. I want to be a homeowner. Not a condo owner, a home owner. I want a nice home with a yard for my kids. Not an over priced home where the home is older, 1200 square feet, and yet it is priced in the $200 thousands and then I have to pay high taxes on that, and then hope I get insurance and if I do, hope I can afford it. I would be house poor if I did that, and praying that nothing would go wrong with anything, becuase then I would have to borrow money. I didn't go through college and become a teacher, and my husband doesn't work 6 days a week delivering mail, to be house poor. Unfortunately, what I want-a nice home that is just a little bigger (hey, I am a realist-I don't want a manshion), with a yard, in a good school system that is affordable for our salaries with affordable taxes and insurance (and without all of this construction on top of construction and traffic) is not obtainable in Florida.
So I am not saying I hate Florida. But it is people like myself, and my husband, who can not afford to live here comfortably.
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Old 11-02-2006, 01:03 PM
s01
 
29 posts, read 107,774 times
Reputation: 25
My mistake...perhaps it's more along the lines of intangible taxes...regardless..Florida is getting crazy. Additionally- look carefully at what is taxed for an individual versus a married couple.
Florida- What is Taxable?

--------------------------------------------------------------------------------

The most common types of taxable assets are:

Stocks
Shares or units of a mutual fund, including money market funds
Ownership interest in a limited liability company
Interest in limited partnerships registered with the Securities and Exchange Commission
Bonds
Loans
Notes
Accounts receivable not arising from your normal course of trade or business
Note: Assets exempt from federal income tax are not necessarily exempt from Florida's intangible tax.
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Old 11-02-2006, 01:12 PM
 
Location: Beautiful South Florida!
243 posts, read 1,011,492 times
Reputation: 106
Quote:
Originally Posted by s01 View Post
My mistake...perhaps it's more along the lines of intangible taxes...regardless..Florida is getting crazy. Additionally- look carefully at what is taxed for an individual versus a married couple.
Florida- What is Taxable?

--------------------------------------------------------------------------------

The most common types of taxable assets are:

Stocks
Shares or units of a mutual fund, including money market funds
Ownership interest in a limited liability company
Interest in limited partnerships registered with the Securities and Exchange Commission
Bonds
Loans
Notes
Accounts receivable not arising from your normal course of trade or business
Note: Assets exempt from federal income tax are not necessarily exempt from Florida's intangible tax.




Dude, they're getting rid of the Intangible Tax. It was a small tax to begin with (insignificant to most folks), and now it's gone. And still no state/local income taxes here plus a moderate sales tax.
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Old 11-02-2006, 01:15 PM
 
Location: Rockport
105 posts, read 108,253 times
Reputation: 36
Hello watson-- Im writing from Shangri- la. LOL Youre correct ive lived everywhere and there is no perfect place. Im now in Rockport tex and the difference between here and south florida is the drivers are downright polite. "Traffic" for me is when I hear a car stop and yell "Alex - please move over!" ( my doggie likes to nap in the middle of the st- its a asphalt thing I guess. We have little winter - little crime and low property taxes. Its an oceanfront community.

What dont I like? Well even though people have come here from many places for the ocean, art, and wildlife there are still too many texans around. In this part of the world you'll still see cars with Bush-Cheney Bumper stickers ( telling the world "not only was the driver an idiot to vote for them- he's still proud of my stupidity"). If every 18-21 yr old American was killed over there - those old fossils would still have the same bumper stickers.

Anyway Rockport for now is my top choice. I loved Miami Beach as a kid but its way different now.
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Old 11-02-2006, 02:05 PM
 
12 posts, read 35,659 times
Reputation: 12
Smile Sorry

Hope You Fine A Place You Love Good Luck
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Old 11-02-2006, 05:07 PM
 
Location: Southern California & Cookeville, TN
20 posts, read 85,354 times
Reputation: 24
Lots of former Floridians lived elsewhere before relocating to Florida. They loved the winters, but the oppressive summers, decrease if quality of life, increase in cost of living, and hurricanes have unsettled some Floridians to the point of moving out. Many of them have decided on living in Tennessee. Tennesseans refer to them as 'halfbacks', as moving halfway back to where they originally came from. Former Floridians love Southern Living, so it's not surprising they don't leave the Southeast. Check out Middle Tennessee from Chattanooga in the south to Dale Hollow Lake in the north. Drive along the 111; it's great country.
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