Florida property tax reforms

South Florida property prices are becoming beyond the reach of key workers in the sunshine state. New residential towers being built in Miami-Dade and Broward counties are now beyond the reach of teachers or public servants and other key workers. Calls are being made by Florida home owners for State legislators to help by lifting the cap on the Sadowski Trust Fund. The fund is intended to spur affordable housing.
Property tax issues are seen as fundamental to increasing the affordability of South Florida property. 

The unpopular property tax has attracted criticism and the calls for immediate reforms are getting louder each day.

South Florida news paper Sun Sentinel reports that the Florida Property Tax Reform Committee is seeking a new process to come up with ways to improve property taxation in Florida.  One of the areas of concern is looking at is portability of property tax relief. Under the Save Our Homes amendment, assessments on property with a homestead exemption are limited to 3 percent per year.

That system penalizes young families trying to move into bigger homes and older people who want to leave their homes for a smaller property, said committee member Bill Donegan, the property appraiser for Orange County.

“Those are the two things that are going to affect Florida: people coming in and the seniors that want to move to the coast or move to The Villages,” he said.

Among the portability proposals before the committee is one where the taxes would be based on a county’s median home price.

Committee member Dennis Nelson, a Wellington real estate agent, said the committee should look at the issue of first-time homeowners who have difficulty buying a home.

A good selection of Florida property can be seen at Homesgofast.com

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