Save Our Homes caps annual increases in assessed value to the lesser or 3% or the C.P.I. The legislature passed a law that will cap the increase in tax rates. That means under SOH both the assessment increases and tax rate sides of the equation are now capped. This will happen without the need for voter approval. That's terrific!
Under the super-exemption plan which needs voter approval, only the tax rate side will be capped. The assessments will still rise by whatever the market indicates. After the initial tax adjustment this year, that's a recipe for higher taxes every year anyway you look at it.
The super-exemption is instant gratification for only the very recent and
new homestead buyers. In the long run, that tax pleasure will turn to tax
pain.
Also, aside from the tax rate relief, this plan does nothing for the
commercial property owners, or owners of rental properties. When their taxes go up, their rents go up; the tenants pay more and for business, they pass their added costs on to the consumers...that's us! So we get to pay their higher taxes in the cost of their products or services. Pity the apartment dweller who, unless they are in a government regulated project will see their rents increase every year to keep abreast of the higher taxes.
Sign the petition for portability of the SOH tax benefit at
www.pbcgov.com/papa and on January 29 Vote NO on this dog of a plan.
http://www.pbcgov.com/papa/ASPX/News/showNews.aspx ?seq=181
If you can't download the petition, you will find it attached to this
message.
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