I wanted to forward this letter that was sent to me by Rep. Carl Domino on Portability. I think it's very interesting but I'm not a supporter. I think the portability bill could help our residential real estate market, and I know we all need that. Unfortunately, I think it would have too negative an impact on our local government and on commercial property. I welcome comments.
His e-mail:
SAVE OUR HOMES (SOH) PORTABILITY UPDATE! I was gratified to read in today's news, that Carlos Lacasa, who sits on the State Taxation and Budget Control Committee, believes that my SOH Portability concept should be placed on the November 2007 ballot. A citizens initiative to put portability on that ballot (although with limits, which are too low for expensive homes,) is gathering signatures. With news headlines stating: that home prices have suffered their biggest drop in 16 years, that prices are declining and inventories are very high, that sub-prime markets are in disarray, that interest rates are rising, it is obvious that the residential market needs relief which only SOH Portability can provide. I feel that on January 29th, 2008, primary ballot, the Constitutional Amendment will most likely fail, since it will hurt the market by taking away the Save Our Homes protection. However, I will continue to pursue initiatives to bring true tax relief for homeowners of our area and our state. Once again, I will file my Portability Bill and, if the Governor calls for another special session, advocate that he includes portability. I will be happy to speak at any association meetings, and explain, in depth, the concept of my Portability Bill. Please contact my district office at (561) 625-5176, to schedule a date. Carl J. Domino
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