Florida: Property taxes are out of control in the state and the Florida legislature is trying to find a way to cut back on the taxes which is what the public wants. Here comes the Florida Dems with one of the
stupidest ideas yet.A major provision of the plan would allow existing homeowners to keep their current Save Our Homes tax savings when they move to a less expensive home. For those upgrading to a more-expensive home, they would be able to keep the tax-cap on the first $250,000 of their assessed value.
But in order for that tax break to meet constitutional requirements of fairness and to not make Florida home buying overly prohibitive to those arriving from other states, Geller said the plan calls for a loosening of the Save Our Homes tax cap. Currently, it caps the amount that the taxable value of a homestead property can grow each year at a maximum of 3 percent. Senate Democrats' plan would raise the annual cap to a maximum of 6 percent a year. |
Owners of businesses, second homes and even rental properties would, for the first time, enjoy protections from skyrocketing property tax rates. The plan would limit the amount that their taxable value could grow each year to 10 percent.
Cities and counties would be forced to rollback their property tax collections to last year's levels - a change that would immediately force them to cut roughly $1.1 billion statewide. A House Republican plan, by comparison, would force a rollback to 2000-01 levels, cutting local government budgets by $5.5 billion.
The Senate Democrat plan also seeks targeted property tax breaks for certain groups, including first-time homebuyers, owners of affordable housing units, many waterfront businesses, and certain small businesses.
Geller said the proposal is designed to be both ``broad-ranging'' to offer tax savings to every Floridian but also include ``targeted relief'' to groups facing ``critical need,'' such as elderly citizens eager to downsize to smaller, less-expensive properties.
For first-time homebuyers purchasing properties below the median value of homesteaded property in their county, the relief would work like this: In their first year of ownership, they'd pay only half of the property tax bill that otherwise would be due.
In the second year, those homeowners would pay 60 percent of the tax bill. The percent of their tax bill that they'd pay would continue increasing in 10-percent increments each year. Only by the sixth year of home ownership would they begin paying the full amount of property taxes that would otherwise be owed.
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Understand, people are demanding
a cut to the property taxes. The Dems come up with a plan where existing homeowners(most of us) who stay will have our taxes raised, first time homebuyers gets a discount for a couple of years(but no
save our homes,) then pay full price. In reality this plan means nothing except to try and fool people into thinking they are getting real savings. Cities and Counties are going to bitch because they like their expanded spending.
All in all, a horrible plan which is to be expected from the Florida Dems who would never put forth a real plan that cuts back on taxes and spending.