Your help in this area is desperately need for investors that have rental properties and those people that have have a 2nd home. I cannot imagine that future investors will be buying investment rental properties or that 2nd home buyers will be buying Florida properties in the future.
I have been a rental home investor for 40 years. I find the situation in Florida, for the 2006 real estate taxes, devastating. Real estate taxes have gone up on many of my properties by 60% in one year. Of couse, most politicians and non-investors just say that I can increase rents to collect the additional taxes. They have no idea what they saying. None of my renters, making $10.50/hour and supporting a family can pay the rent the are being charged now.
Based on what happened last year with the property taxes, I now regret having invested in Florida real estate. I have many of my properies for sale to raise the tax moneys needed, but there are no buyers.
The real estate taxes are entirely unfair for investors. My home taxes actually went down last year. My investment properties taxes have gone up by 60% in many dozens of cases.
I would like to see a roll back in investor owned properties. The state statute says that assessors should consider income from the properies when appraising. If assessors included rental property income, the taxes would have gone down, since property insurance expense has gone up 300-400% on most of my condominium rental properties.
Any person that buys a 2nd home or investment property, which was the american dream at one time, would now have to have their heads examined before buying a property to hold for rental income.
Senator Mike, I have been working on this subject in Hernando County for over 1 year. The answer is not a series of patches like the Governor is suggesting. We need to redo the property tax structure. If we impose a new cap on businesses and other non-homesteaded properties we will only create the same problem that we have with the homesteaders descrepancy. I don't understand why businesses need to pay any tangible tax at all. These are items that they have already paid sales tax on. By the way our BOCC was presented w/a petition w/11,619 signatures requesting that they lower the millage significantly. It was presented on 2/14/06 and it fell on deaf ears.
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3 comments:
Your help in this area is desperately need for investors that have rental properties and those people that have have a 2nd home. I cannot imagine that future investors will be buying investment rental properties or that 2nd home buyers will be buying Florida properties in the future.
I have been a rental home investor for 40 years. I find the situation in Florida, for the 2006 real estate taxes, devastating. Real estate taxes have gone up on many of my properties by 60% in one year. Of couse, most politicians and non-investors just say that I can increase rents to collect the additional taxes. They have no idea what they saying. None of my renters, making $10.50/hour and supporting a family can pay the rent the are being charged now.
Based on what happened last year with the property taxes, I now regret having invested in Florida real estate. I have many of my properies for sale to raise the tax moneys needed, but there are no buyers.
The real estate taxes are entirely unfair for investors. My home taxes actually went down last year. My investment properties taxes have gone up by 60% in many dozens of cases.
I would like to see a roll back in investor owned properties. The state statute says that assessors should consider income from the properies when appraising. If assessors included rental property income, the taxes would have gone down, since property insurance expense has gone up 300-400% on most of my condominium rental properties.
Any person that buys a 2nd home or investment property, which was the american dream at one time, would now have to have their heads examined before buying a property to hold for rental income.
Senator Mike, I have been working on this subject in Hernando County for over 1 year. The answer is not a series of patches like the Governor is suggesting. We need to redo the property tax structure. If we impose a new cap on businesses and other non-homesteaded properties we will only create the same problem that we have with the homesteaders descrepancy. I don't understand why businesses need to pay any tangible tax at all. These are items that they have already paid sales tax on. By the way our BOCC was presented w/a petition w/11,619 signatures requesting that they lower the millage significantly. It was presented on 2/14/06 and it fell on deaf ears.
is this a public theme? i absolutely admire the colors !
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