The sun is setting at the end of another day in southwest Florida!
The future looks very bright as law makers work toward the largest tax reform in Florida's History!
I want to give you an update on property tax meeting in Tallahassee on June 4th 2007 I have been trying to follow in local and state Media and on-line regarding the states work toward affordable taxes for property owners. Here is the latest The House and Senate leaders agreed to set the date for the constitutional referendum on property tax relief and reform for January 29, 2008. That's also the date of Florida's Presidential Primary election, and it makes a great deal of sense to hold the election then. This way they will not have to pay to hold two separate elections. Further, more voters will be likely to participate in the election than if they were held separately. But most importantly, holding the election in January 2008 instead of waiting until November 2008 ensures that the property tax relief will be realized for Florida property owners on the new tax bills they receive in October 2008.
Eveverything I read states all taxpayers seeing relief this year in the form of a rollback or a tax cut! The vote set for January 2008, means that property owners will receive additional relief in the form of exemptions on their homestead properties in October 2008, If passed by the voters ( and trust me it will everyone is lobbying for relief!) it will mean two straight years of property tax cuts! Sounds good to me!
I was also this week to read that the House and Senate leaders are still working on the best way to cut taxes for non-homestead residential properties.(this was the first time, I have heard or read this!) One Option is a flat percentage exemption for non-homestead residential properties. There are other options still under consideration. Hopefully the state has decided to lower taxes on non-homestead properties this year. This will be good news for the current real estate market for the sale's of condo's and vacation homes!
The State of Florida is making great progress in moving towards the largest tax relief package in the history of Florida from all that I have read.This will have a very positive result in our real estate market all across the state! I truly believe the state law makers have gotten the message to cut property taxes for all Florida property owners and help ensure that the next tax bill that Floridians receive is a tax bill that they can afford and will be prod to say they live work and play in the State we love! Like we say here in Southwest Florida, "Wwelcome to Paradise"! Now is the time to Buy before the tax relief taxes take place and People from around the country look for there vacation home with affordable taxes!
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