Are you informed on all the facts about the SOH Initiative ?

The Save Our Homes (SOH) initiative has been in the headlines a lot. Soon you will see campaigns FOR & AGAINST the amendment as the coming election season starts to heat up. The best advice is to become as informed as possible so you know how it will affect you.

The Basics:

On January 29, 2008 along with the Florida Presidential Primaries, a constitutional amendment will be placed on the ballot that may change how homesteads are assessed in the State of Florida. If the amendment passes, all property owners who have a homestead exemption as of January 1, 2008 must choose to do one of the following:

a) Keep their existing homestead exemption and their current Save Our Homes cap.
- or -
b) Convert to the Super Homestead Exemption and give up Save Our Homes.
If the amendment passes, all persons with homestead exemption in 2008 will continue under Save Our Homes unless they file a form with the Property Appraiser’s Office to switch to the Super Exemption.

Owners of homestead property in Pasco County can view the millage and current tax rate along with other property appraisal information on the appraisers web site.

Nobody can guarantee which option is better for you or guarantee that the forecasts they make will prove accurate over time. Uncertain future variables such as inflation, the increase in real estate values, the length of time you will continue to live in your home and the amount of capped value you currently have must be considered.

The Super Homestead Tax Calculator can help you make your own forecast of which option would be best for you, based on the variables that you select. This should prove helpful to many who those of us that may have to make that decision in just a few short months.

A Great place for any information you want to know about the SOH is the Florida Homestead Services Bulletin Board .
Tons of information and current dialog ….. you can even ask a question and receive an answer from the forum.

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