Very well done article. It complements Flagler County in many ways.
Old Florida enclave is new Florida hot spot - 05/23/2007 - MiamiHerald.com
Monday, May 28, 2007
Tuesday, May 22, 2007
New plan being proposed
Front page news - newsjournalonline.com
This article sounds much more like the solution that was proposed by Morgan Gilreath. It seams encouraging that they are looking at other solutions. It doesn't seem to address the issue of non-homesteaded property. I'm not certain if these exemptions would apply there or not. It also seems to allow for people with SOH benefits in place to continue which may be troublesome. That could cause additional tax burdens and increase the tax issue for non-homesteaded businesses and for non-homesteaded renters.
At the same time, moving to a completely percentage based solution without considering the SOH people could have a dramatic negative impact on those who have been in the same home since 1992 when their property value was locked in.
One potential solution is to allow that benefit to continue, offer a 20% exemption as an alternative across the board. As people move out of, or heir, their SOH properties, they would fall under the new plan. As more and more people come off of the SOH plan, the percentage exemption could be increased with the goal of keeping taxable value in line with the property value changes. While I haven't examined the 20% figure, Morgan Gilreath used a figure of 62% of taxable value to equal today's SOH exemption (see an earlier article) which would be a 38% exemption. If that is accurate, the 20% figure is roughly half the savings to begin with. However, many homeowners would benefit greatly from that type of reduction. As would renters and business owners, the segment of the market that we are currently attacking.
This article sounds much more like the solution that was proposed by Morgan Gilreath. It seams encouraging that they are looking at other solutions. It doesn't seem to address the issue of non-homesteaded property. I'm not certain if these exemptions would apply there or not. It also seems to allow for people with SOH benefits in place to continue which may be troublesome. That could cause additional tax burdens and increase the tax issue for non-homesteaded businesses and for non-homesteaded renters.
At the same time, moving to a completely percentage based solution without considering the SOH people could have a dramatic negative impact on those who have been in the same home since 1992 when their property value was locked in.
One potential solution is to allow that benefit to continue, offer a 20% exemption as an alternative across the board. As people move out of, or heir, their SOH properties, they would fall under the new plan. As more and more people come off of the SOH plan, the percentage exemption could be increased with the goal of keeping taxable value in line with the property value changes. While I haven't examined the 20% figure, Morgan Gilreath used a figure of 62% of taxable value to equal today's SOH exemption (see an earlier article) which would be a 38% exemption. If that is accurate, the 20% figure is roughly half the savings to begin with. However, many homeowners would benefit greatly from that type of reduction. As would renters and business owners, the segment of the market that we are currently attacking.
Thursday, May 3, 2007
New special session coming
From Rep. Carl Domino----
SAVE OUR HOMES PORTABILITY UPDATE!
It was just announced that while a conceptual framework which would lead to meaningful tax relief has been reached, it would be impossible to complete the project within the next 72 hours.
Accordingly a Special Session to deal with property taxes has been scheduled for 10 days commencing on June 12th through June 22nd , 2007.
Prior to that time we should have more information on the direction which ongoing talks are going and we will continue to update you on developments as they occur.
Rep. Carl J. Domino
SAVE OUR HOMES PORTABILITY UPDATE!
It was just announced that while a conceptual framework which would lead to meaningful tax relief has been reached, it would be impossible to complete the project within the next 72 hours.
Accordingly a Special Session to deal with property taxes has been scheduled for 10 days commencing on June 12th through June 22nd , 2007.
Prior to that time we should have more information on the direction which ongoing talks are going and we will continue to update you on developments as they occur.
Rep. Carl J. Domino
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