Sept. 8, 2006
GREAT NEWS FOR OUR SAVE OUR HOMES PORTABILITY INITIATIVE!
1. Attorney General Charlie Crist received the GOP nomination for Governor. In his debate
with Tom Gallagher he highlighted his support for full portability.
2. I will testify on October 17th, in Miami, before the Governor's Property Tax Task Force.
While Gov. Jeb Bush will not be in office for our next session, it will be helpful if the
Task Force report supports our position.
3. I have written a letter asking Gov. Bush to include portability should he call for a Special
Session in October. (copy of letter printed below.)
4. A coalition of Property Appraisers has initiated a process to modify the current version
of SOH portability and place it on the ballot via Citizens Initiative. While their version has a
cap, it does include statewide portability.
Florida House of Representatives
Representative Carl J. Domino
Suite 520 323 The Capitol
3300 PGA Boulevard 402 South Monroe Street
Palm Beach Gardens, FL 33410 Tallahassee, FL 32399-1300
Tel: (561) 625-5176 Tel: (850) 488-0322
August 31, 2006
The Hon. Governor Jeb Bush
PL 05 The Capitol
400 Monroe Street
Tallahassee, FL 32399-0001
Dear Governor Bush:
I noted in the newspaper the possibility of you calling a Special Session to deal with the insurance crisis. I can assure you that in my district, a responsible solution would be most welcome. I would like to suggest that when such a a session is held, that the call be extended to include property tax reform, in particular Save Our Homes (SOH) portability.
As you will recall, three years ago when I first mentioned this to you, I indicated that I thought it was unfair that citizens are locked into their homes because of the financial disincentives created by high taxes. Also, I mentioned to you at that time, that this fiscally responsible legislation would not eliminate a single dollar which is now collected at the state and local level, and would help inoculate falling home sales against an inevitable weakness in the housing market caused by rising interest rates.
Recent data suggests that the housing market is in very difficult straights. Experts suggest that in the next year, over $1 trillion of low interest ARMS or non-interest paying mortgages will roll over to 3+ higher interest rates, surely causing some foreclosures and putting more products on the market. Housing is estimated to have created 30% of the job growth in the last two years. Clearly, it is a critical industry and in need of some assistance at the moment.
My Portability Bill will clearly increase real estate transactions. Moreover, it may well have the added benefit of providing more affordable homes in counties where $200,000 and $300,000 homes are being kept off the market because the owners, while desiring to move, cannot afford the adverse consequences of higher tax rates.
Since I initially introduced this legislation, it has received favorable bi-partisan support from many legislators. However, a handful of ardent opponents have continued to stop it from being voted on in the full chamber. As you know in last week's debate, Attorney General Charlie Crest stated that he supports the Save Our Homes legislation, which I developed. I have held eight (8) public forums around the state to discuss property tax reform. Portability is generally widely accepted. Among state-wide elected officials, only Fred Brummer, an avowed opponent of the SOH amendment opposed this legislation.
It is clear that there is a division between those who want this legislation restricted to within county moves and those who believe the moves should be state wide. Obviously, I would prefer the latter, but in the legislative process the direction which most citizens support would be what I would propose to be placed on the ballot for consideration as soon as possible.
I thank you for your consideration in this matter and urge you to hesitate no longer in providing relief to the thousands of citizens who are locked in their homes as well as the home builders, real estate agents, mortgage bankers, movers and many other workers who would be positively affected by a significant up-tick in the real estate transactions.
CARL J. DOMINO
CALL OR WRITE THE ABOVE REPRESENTATIVES TODAY. IT IS UP TO US HOMEOWNERS TO PROTECT OUR HOMES AND REDUCE OUR TAXES.
Representative Carl J. Domino
3300 PGA Blvd.,
Palm Beach Gardens, FL 33410
Tel: (561) 625-5176
Carl Domino, is the state representative for District 83, which encompasses much of North Palm Beach County. A Republican, he is a graduate of Florida State University, and holds an MBA from Harvard Business School .