Orlando Real Estate

Vote Yes On One

January 16th, 2008 3:50 PM by David W. Welch

Go to www.yeson1florida.com and get the facts about the ammendment on the ballot. There are four main points this addresses. First, there is a doubling of the homestead exemption. This will save the average homestead property owner in Florida about $240.00 per year. This is not a big deal to a lot of people, but it is a step in the right direction. By the way, school taxes are not impacted by this at all.

Second, limited portability is created for Save Our Homes. This will allow you to take your tax savings benefit that you have accrued to your next property. There are some limits, so check the website for more details. It's retroactive to January 1, 2007 too.

Third, a cap of 10% is placed on property tax increases for non-homestead property. Anyone who says this only protects wealth land owners forgot that tenants pay the rent. In commercial leases the tenant often have taxes passed directly to them to pay. This makes Florida less attractive to business.

Fourth, the first $25,000 of tangible property is exempted from state tax. This affect virtually every small business owner. They are the backbone of our economy.

So Vote YES on ONE!

Posted in:General
Posted by David W. Welch on January 16th, 2008 3:50 PM

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