Tax Portability & Affordable Housing in Spotlight During This Year's Legislative Session
Save Our Homes tax portability and affordable housing for our workforce premiums top the list of issues that are dominating the 2006 legislative session for Florida Realtors®.
More than two-dozen bills have been filed that could impact residential and commercial property taxes. Special attention is being focused on those allowing homeowners to carry a portion of the tax benefits they received under the Save Our Homes amendment to a newly-purchased home. The proposed legislation would alter the tax structure of counties through a constitutional amendment.
The Florida Association of Realtors® supports a limited proposed constitutional amendment that would authorize county governments to allow "portability" for homeowners who are either upsizing or downsizing, or are forced from their existing homes by the exercise of eminent domain. FAR also supports allowing homeowners to repair and replace homes damaged in casualty events without losing the Save Our Homes tax savings.
RAGFL has taken a slightly different approach. Several months ago, our Board of Directors voted in favor of supporting the concept of portability. RAGFL's position does not promote or oppose any one particular version. With bills moving in and out of legislative committees and often being altered rapidly at each stop, we believe that all versions have merit and we should push for all bills to be heard. We will have the opportunity to debate the smaller details if hearings are scheduled. It is often difficult for any idea to receive a fair hearing in Tallahassee, and by leaving the doors open to all versions we stand a better chance to enact portability.