Anna Maria Island

Florida State Amendment 1 Passes the buck

In yesterday’s primary election voting, State Amendment 1 passed by 64.4%. As posted in an earlier report, the ‘tax-reshuffle’ :

• increases the homestead exemption except school district tax
• allows homestead property owners to transfer up to $500,000 of their Save-Our-Homes benefits to their next homestead
• for non-homestead property, provides a $25,000 exemption for tangible personal property (business property)
• limits assessment increases for specified non-homestead real property except for school district tax

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Florida State Amendment 1 Tax ReShuffle?

Added to Tuesday’s primary ballot is a proposed change to the way property taxes are assessed.

Currently, a rule of thumb is that taxes on real estate are nearly 2% of appraised value. Usually the appraised value is lower than market price and owners who live in their homes can claim a $25,000 deduction. The median price of Florida houses is about $300,000, so a home buyer could be paying $6,000 per year.

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Presidential Primary Smackdown Comes to Florida

The candidates contesting for their party’s nomination for the 2008 Presidential Election will be campaigning for supporters this week culminating in the Tuesday 29th vote.

Hot on the heels of the Saturday’s South Carolina Primary, attention focuses on Florida for a clue as to who can gain an edge.

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