Realty Blog

We can help stop foreclosure!

<a href="http://www.afscanhelp.com/"
title="We Can Help You Stop Foreclosure On Your Home">
   <strong>Stop Foreclosure On Your Home</strong>
</a>

The head of Florida's statewide teachers union Wednesday declared the group's opposition to the new property tax-cutting plan that's on the Jan. 29th ballot, but he said no decision has been made on launching a formal campaign against it.

Florida Education Association President Andy Ford confirmed that i the meantime he intends to keep talking with Gov. Charlie Crist. The governor called Ford about it Tuesday as he began his own campaign urging voters to adopt the proposed constitutional amendment.

The proposal, which the legislature voted Monday to put on the presidential ballot, is estimated to cut property taxes by $12.4 billion over the first five years including $2.7 billion collected for schools.

PB Post

Lawmakers sent to the voters Monday a new property tax plan that doubles the homestead exemption, allows Save Our Homes portability and cuts the average property tax by $240.

The changes, which include several tax beaks for businesses, will go to voters on Jan. 29th, the same day as the presidential primary. It will take a 60 percent approval vote for the tax changes to become law.

After months of wrangling, passage of the bill was a political victory for Gov. Charlie Crist, who campaigned on reforming property taxes and made it a priority of his administration.

The constitutional amendment, approved 35-4 in the Senate and 97-18 in the House, would cut $12.4 billion in property taxes over the next five years. The plan would be paired with a four-year, $15 billion cut that the legislature forced on local governments in the spring.

The tax changes include:

1) Doubling the $25,000 homestead exemption for local government property tax bills. Gives homesteaders an additional $25,000 exemption on the value of the property between $50,000 and $75,000 but only on the non-schools portion of the property taxes. Homesteaders assessed at $75,000 or more: $238. Homesteaders assessed between $50,000 and $75,000: less than $238. Homesteaders assessed at $50,000 or less: zero.

2) Letting homestead owners carry up to $500,000 in Save Our Homes benefits to a new home. 100 percent if buying a home more expensive; less if buying a less expensive home. Homeowners transferring the full $500,000 in value would save about $8,500, with smaller transfers providing proportionately less.

3) Capping annual assessments of businesses and second homes at 10 percent a year for local government tax bills. Property owners would benefit in years when the market value increases more than 10 percent. This cap would expire after 10 years unless reauthorized by voters in 2018.

4) Giving business owners a $25,000 exemption on their tangible personal property such as computers, furniture and other equipment. Business owners will save as much as $425, for those with at least $25,000 in personal property.

Not everyone is happy.

PB Post

If House doesn't like Pruitt's proposal, property tax reform will have to wait until next year.

That will make the politicians popular, don't you think?

They are not very far away from reaching an agreement, but will they agree?

Pruitt is confident voters will be satisfied with the new amendment.

Tuesday is the last day for them to decide. Will they make it of break it?

Tomorrow or Wed. we will find out.

Roger Holden

The Florida Supreme Court decided Wednesday to consider whether a proposed constitutional amendment on property taxes should be place on Jan. 29th ballot.

The court asked Gov. Charlie Crist's office to file a brief by Tuesday explaining why a lower court erred when it called the state;s ballot language "misleading" and struck the proposal for bigger homestead exemptions from the ballot.

The first hearing will be Dec. 3.

All week, lawmakers have been struggling to craft a new property tax proposal to substitute for the one rejected by the lower court. But negotiations between the House and Senate are stymied with both chambers deciding not to take up the issue again until Monday.

But they are facing a deadline of Tuesday at 11:59 p.m. giving them little time to reach an agreement.

The deadline is required by the state constitution which states that ballot questions must be submitted more than 90 days before the election. The property tax amendment would be added to the Jan. 29th presidential primary ballot.

"We're already making arrangements to have staff available through the night Tuesday, if needed," said Secretary of State Kurt Browning spokesman Sterling Ivey.

Lawmakers had been expected to easily reach agreement this week. But the House revamped its property tax proposal much to the annoyance of Senate Leaders who believed they already had an agreement.

Senate President Ken Pruitt decided this morning to send his members home until Monday. Hours later, House Speaker Marco Rubio did the same thing.

Crist tried to put a good face on the impasse.

"Mondays can be very good," said Crit, who had podded lawmakers to return to the Capitol for their second special session on property taxes this year.

Senate Majority Leader Dan Webster said House leaders broke the deal, and Senate President Ken Pruitt has refused to bring his chamber back to debate the House plan. The Senate has not met since Thursday.

Pruitt sent a memo to senators on Wednesday Day 13 of the special session saying the chamber would not meet until Monday "if we return."

"We have reason to be cautiously optimistic, "Pruitt said. "However, there is still much work to be done and the time clock is not our friend."

Mike Bender, Palm Beach Post