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Old 11-24-2007, 06:52 AM
 
Location: East Tennessee
3,928 posts, read 11,066,877 times
Reputation: 5252

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A new initiative has surfaced to help Florida property owners with Property Taxes called Cut Property Taxes Now.

The 1.35% PROPERTY TAX CAP AMENDMENT caps all property taxes at 1.35% of taxable value while preserving SAVE OUR HOMES and all HOMESTEAD EXEMPTIONS. This plan cuts property taxes by $8 billion and reduces property tax collections by 26% statewide.

Click on the link above; read the full text of the summary ballot; find out how much you will save; sign the petition (they need 611,000 signatures); and contribute to the cause; and/or join the coalition (if you agree, of course!).

The current amendment for the ballot, approved and endorsed by Governor Charlie Christ, will save only approximately $240 per year for primary residences only.

Last edited by TampaKaren; 11-24-2007 at 07:58 AM.. Reason: changed homeowners to property owners
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Old 11-24-2007, 07:42 AM
 
548 posts, read 478,707 times
Reputation: 126
Quote:
Originally Posted by TampaKaren View Post
A new initiative has surfaced to help the Florida homeowners with Property Taxes called Cut Property Taxes Now.

The 1.35% PROPERTY TAX CAP AMENDMENT caps all property taxes at 1.35% of taxable value while preserving SAVE OUR HOMES and all HOMESTEAD EXEMPTIONS. This plan cuts property taxes by $8 billion and reduces property tax collections by 26% statewide.

Click on the link above; read the full text of the summary ballot; find out how much you will save; sign the petition (they need 611,000 signatures); and contribute to the cause; and/or join the coalition.

The current amendment for the ballot, approved and endorsed by Governor Charlie Christ, will save only approximately $240 per year for primary residences only.
No offense, but we could accomplish much more if prices dropped back down to where they should be. That would take property taxes down with it naturally.

The bulk of the problems were not caused by property taxes, they were, and still are caused by prices increasing way more than income levels and other fundamentals supported.

You have houses that sold for $175,000 in 2000 being bought for $350,000 in 2004, now on the market for $400,000.

That is why taxes went from $1500/year in 2000 to $6000/year or more if somebody actually bought that example house.

The millage rates were not jacked up, the prices were.
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Old 11-24-2007, 07:50 AM
 
Location: East Tennessee
3,928 posts, read 11,066,877 times
Reputation: 5252
Default Not exactly

Quote:
Originally Posted by CJFlorida View Post
No offense, but we could accomplish much more if prices dropped back down to where they should be. That would take property taxes down with it naturally.

The bulk of the problems were not caused by property taxes, they were, and still are caused by prices increasing way more than income levels and other fundamentals supported.

You have houses that sold for $175,000 in 2000 being bought for $350,000 in 2004, now on the market for $400,000.

That is why taxes went from $1500/year in 2000 to $6000/year or more if somebody actually bought that example house.

The millage rates were not jacked up, the prices were.
I agree that the real estate sales price spikes caused some of the economic disruption, but the current property tax system is and has always been unfair. I've lived in my home over 20 years and my property taxes with Homestead are $1300. My neighbors are paying $2400 and $3800 for comparable properties.

We can all be part of the problem or part of the solution.

Last edited by TampaKaren; 11-24-2007 at 08:41 AM.. Reason: grammar goof
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Old 11-24-2007, 08:58 AM
 
548 posts, read 478,707 times
Reputation: 126
Quote:
Originally Posted by TampaKaren View Post
I agree that the real estate sales price spikes caused some of the economic disruption, but the current property tax system is and has always been unfair. I've lived in my home over 20 years and my property taxes with Homestead are $1300. My neighbors are paying $2400 and $3800 for comparable properties.

We can all be part of the problem or part of the solution.
My vote is to get the home prices down first, then see what the actual taxes are on these properties, then we can talk about how to fix the system.

I agree the system needs fixing, but the main problem right now is the prices are way too high.
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Old 11-24-2007, 09:07 AM
 
88 posts, read 398,602 times
Reputation: 125
I ran the numbers on my property, with a homestead, and it does nothing for the Floridian homestead. This is to protect non-homestead properties from increasing over 1.35% of appraised value. It is another Rubio special.

Florida need to protect Floridians. The only unfairness that needs to be corrected in the property tax system is the inequities among homesteaders. This is exactly why we should eliminate property taxes on homestead property, continue as we are on non-homesteads, and increase the sales tax 1-3%.

Sorry, but I have no sympathy for snowbirds, investors or corporations.
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Old 11-24-2007, 09:48 AM
 
Location: Boca Raton, FL
711 posts, read 1,770,498 times
Reputation: 351
1) This is all pointless without a general cap on government revenue from all sources. Capping tax A will only result in an increase in tax B. You still haven't actually reduced your tax burden.
2) The problem isn't property taxes per se, it's a government that insists on increasing taxes by 20% annually just because the tax formula says so, when taxes should only have increased by 4-6% (taking inflation and population growth into account).
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Old 11-24-2007, 09:58 AM
 
Location: Sunbury PA, hour north of Harrisburg
114 posts, read 696,018 times
Reputation: 26
Taxes sure are in issue in PA. We had several attempts at reform- the problem lingers.

I dont understand how FLorida got so expensive. I heard water and insurance are high.
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Old 11-24-2007, 11:12 AM
 
Location: Satellite Beach, FL
149 posts, read 675,446 times
Reputation: 43
This initiative sounds similar to the CA property tax cap which works well. Not sure what their cap in CA is, but it is somewhere around 1.25-1.35% of the assessed value/sale price and can increase annually with inflation only. Applies to ALL home buyers in CA unlike the homestead exemption in FL. If CA was able to get it done, certainly FL can do it as well.





Prodromos Borboroglu
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Old 11-24-2007, 11:13 AM
 
2,143 posts, read 7,679,030 times
Reputation: 1155
Limiting the increase in all property will only encourage more development, because that is the only way governments will increase their revenue.

The solution is not to limit taxes, but to limit spending. The total take for all governmental services-schools, municipalities, fire, police, everything should be limited to increases of not more than 1.5% over the previous year.

The answer is to limit spending. If governments cannot spend, they cannot tax.
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Old 11-24-2007, 11:16 AM
 
Location: Heartland Florida
9,324 posts, read 25,583,067 times
Reputation: 5023
The homestead exemption is a fixed amount, and the "save our homes" amendment did nothing for it. I believe that all homesteaded properties should be tax exempt, and business or investment properties taxed on income earned. As an altrernative tax residential properties on the original price paid plus yearly inflation. Make the homestead exemption a percentage of median home value in the area. Cap government spending and wasteful school spending. The tax situation could easily be fixed but nobody with the power to do so wants it to be.
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