Did State Recapture rule hit your pocketbook?

[SHELLY]

I said it before, and I'll say it again--SOH was voted in 1992 and started in 1995; b**ching about it didn't start in earnest until the RE frenzy jumped the rails. There were no tax issues with second homes held by Grannies in Bocca until the $32K concrete block home got sold, sold and sold again and now is "valued" at $450K. Thanks to SOH more Florida citizens than not were able to hold on to their primary homes when the investulators breezed into the state and started day-trading the property "values" up. If there are any fingers to point, they should be in the direction of the investulators and greedy politicians.

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[Mango]

Can someone's taxes increase legally in a declining market? Mine did, dramatically. Now if I move in the house and become a SOH recipient, I will have a much larger cap. My taxes went up about 30%. :shock:

 

[TooFarTampa]

I said it before, and I'll say it again--SOH was voted in 1992 and started in 1995; b**ching about it didn't start in earnest until the RE frenzy jumped the rails. There were no tax issues with second homes held by Grannies in Bocca until the $32K concrete block home got sold, sold and sold again and now is "valued" at $450K. Thanks to SOH more Florida citizens than not were able to hold on to their primary homes when the investulators breezed into the state and started day-trading the property "values" up. If there are any fingers to point, they should be in the direction of the investulators and greedy politicians.

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Yes, but -- Florida TaxWatch pretty much said back in 1993 that hugely divergent tax bills were eventually going to become reality. Rampant unfairness was bound to happen; it was just a matter of when.

 

[SHELLY]

Can someone's taxes increase legally in a declining market? Mine did, dramatically. Now if I move in the house and become a SOH recipient, I will have a much larger cap. My taxes went up about 30%. :shock:

Sure--they increase millage rates, increase budgets--or Charlie Crist can stick his brown nose into the system and give us all "the mother of tax cuts." :roll:

Check your tax bill from last year with your new TRIM--what's different?

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[SHELLY]

Yes, but -- Florida TaxWatch pretty much said back in 1993 that hugely divergent tax bills were eventually going to become reality. Rampant unfairness was bound to happen; it was just a matter of when.

If SOH taxpayers ante upped their 3% and non-homesteaders' properties increased at the 4-6% rate of inflation ("normal" for RE investments), there would have been no problems for a long-long time--if any. But when flipping investulators started running the RE "values" up 20%, 30%, 40% and more overnight, they just couldn't see the train wreck coming through those rose-colored glasses.

No sympathy here.



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[Mango]

Sure--they increase millage rates, increase budgets--or Charlie Crist can stick his brown nose into the system and give us all "the mother of tax cuts." :roll:

Check your tax bill from last year with your new TRIM--what's different?

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Just the assessed value from last year, it's higher. I can understand an increase in the millage rate. The market has been declining since 05. But they used a purchase price from an investor who wound up selling it recently as a short sale for significantly less. I own another property close by with the same exact lot size. No increase there. I had a small decrease actually. Makes no sense to me. The increased property is slightly larger in square footage. Not much though. I wouldn't think legally they could raise in a declining market. It's not very appealing to move there this year for me.

 

[SHELLY]

Just the assessed value from last year, it's higher. I can understand an increase in the millage rate. The market has been declining since 05. But they used a purchase price from an investor who wound up selling it recently as a short sale for significantly less. I own another property close by with the same exact lot size. No increase there. I had a small decrease actually. Makes no sense to me. The increased property is slightly larger in square footage. Not much though. I wouldn't think legally they could raise in a declining market. It's not very appealing to move there this year for me.

File a dispute.

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[wrobert]

Just the assessed value from last year, it's higher. I can understand an increase in the millage rate. The market has been declining since 05. But they used a purchase price from an investor who wound up selling it recently as a short sale for significantly less. I own another property close by with the same exact lot size. No increase there. I had a small decrease actually. Makes no sense to me. The increased property is slightly larger in square footage. Not much though. I wouldn't think legally they could raise in a declining market. It's not very appealing to move there this year for me.

In Florida the values are based on trailing years. So it is 2007 activity that you are feeling. But, if it is in Walton County, contact Patrick Pilcher, the property appraiser, he will look into it, show you what happened, and if a mistake is made work to get it corrected.

 

[Bob]

I said it before, and I'll say it again--SOH was voted in 1992 and started in 1995; b**ching about it didn't start in earnest until the RE frenzy jumped the rails. There were no tax issues with second homes held by Grannies in Bocca until the $32K concrete block home got sold, sold and sold again and now is "valued" at $450K. Thanks to SOH more Florida citizens than not were able to hold on to their primary homes when the investulators breezed into the state and started day-trading the property "values" up. If there are any fingers to point, they should be in the direction of the investulators and greedy politicians.

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bad market...good law? what good is a law that does not work fairly 24/7?

 

[SHELLY]

bad market...good law? what good is a law that does not work fairly 24/7?

For starters, it will make folks think twice before jumping into another destructive Florida RE feeding frenzy.


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