Property Taxes = Florida's Downfall?

[SHELLY]

VERY interesting article on how Florida's property taxes are contributing to the state's downfall. :roll:

PROPERTY TAXES = FLORIDA'S DOWNFALL

 

[cavbaby]

Wow!!! I love coming here for a little optimistic pick-me-up!! Thanks!!! :clap_1:

 

[Bob]

Excellent article.

 

[Cil]

We are looking to buy a home, and this is definitely an issue for us.

 

[Just_In_Thyme]

We owned property on Hilton Head Island, and quite frankly the property taxes there were not much different than they are here in Walton Co. The insurance is quite a bit cheaper here than in South Carolina though.

 

[Bob]

We owned property on Hilton Head Island, and quite frankly the property taxes there were not much different than they are here in Walton Co. The insurance is quite a bit cheaper here than in South Carolina though.

SC is more equitable w/ reassesments and obviuosly there is no Save our Homes{screw all newcomers and anyone desiring to move].

 

[beachmouse]

Cil, though you're in a position where your home will fall under the homestead exemption laws, and that really helps- taxes can't go up more than 3% a year on homesteaded homes without voter permission.

 

[Smiling JOe]

Cil, though you're in a position where your home will fall under the homestead exemption laws, and that really helps- taxes can't go up more than 3% a year on homesteaded homes without voter permission.

Very close, but to clarify for those who do not know, the taxes can go up more than 3% (via higher millage rates), but the "assessed value" cannot increase more than 3% per year on homesteaded property in Florida after you own the home for one year.

 

[beachmouse]

Though generally voter permission is needed to raise the millage rate beyond a certain point. We've had to get voter approval of fire department millage increases where I live a couple times in recent years, first to buy a new ladder truck, and then last year to fund sending all the firefighters to paramedic school and increasing their pay afterwards to reward the higher skill set.

 

[SHELLY]

We owned property on Hilton Head Island, and quite frankly the property taxes there were not much different than they are here in Walton Co. The insurance is quite a bit cheaper here than in South Carolina though.

The price of insurance in Florida is going to go up BIG TIME in the next couple of months. The taxes are the first nail in the coffin for the second/investment home/retail market, the insurance will definitely be the second!