Secrets from the Clearwater Beach Seashell 33767 - Heard about the Property Tax Reform Proposals?

Secrets from the Clearwater Beach Seashell today are about the new Property Tax Proposals in Tallahassee

Clearwater Beach Home, Condo and Property owners this is what the Clearwater Beach Seashell had to say today....Both the Florida House and Senate are considering proposals for property tax reform. While the House got off to a fast start this year, the Senate just recently began consideration of it's first property tax reform proposal.

The Senate proposal would do away with the criteria of assessing all Florida property according to its potential, known as "highest and best" use, rather than how it actually is used.

• Highest and best use is one of eight criteria set by state law for appraising property. The others are:
• cash value;
• location;
• size;
• cost;
• condition;
• income and
• net proceeds from sale.

The senators plan to meet with county property appraisers this month to discuss the proposal. It will be interesting to see how this one comes out because most residential taxpayers have said they are satisfied with their assessments but have problems with tax rates set by county commissioners and city governments.

In the House, there has been a flurry of activity this year, but they now appear to be focusing on two basic proposals.

One House proposal would limit property tax increases to inflation plus 3 percent annually. This proposal increases the exemption for primary homes and adds new exemptions for other residential and commercial property. The supporters of this proposal say it would save taxpayers $3.7 billion.

The second House proposal includes a roll back of taxes to their 2001 level, except for schools, but with allowances for inflation and population growth. This plan also talks about abolishing property taxes on primary homes, applies the rollback to other real estate and raises the sales tax from 6 percent to 8.5 percent. The supporters of this approach say it would save taxpayers nearly $5.8 billion.

If you have a preference, now is the time to contact your representatives and let them know what you think. What plan do you favor?

Jack and Cyndee Haydon-Your dedicated Clearwater Beach Real Estate Agents 33767

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