Tuesday, November 27, 2007

Your Opinion on Property Taxes

We welcome your opinion on property taxes.

The plan includes the following benefits for Florida taxpayers:

-Portability, allowing homeowners to transfer their Save Our Homes benefit (up to $500,000) to a new homestead.

-Doubles the homestead exemption, allowing an additional $25,000 for the value of homestead property above $50,000. This exemption will not affect school taxes.

-Grants a new $25,000 exemption for tangible personal property.
Requires an annual appropriation to fiscally constrained counties to make up for revenue reductions.

-Limits the annual growth of assessed value for non-homesteaded residential and business properties to 10%. For most non-homesteaded housing properties, this accumulated assessment limitation will expire at change of ownership.