Amendment 1 - Frequently Asked Questions About Seminole County Real Estate & Property Taxes

Q: When will the changes from Amendment 1 show up on my Seminole County real estate tax bill?

A: For those who are eligible, benefits from portability, the additional homestead exemption and the $25,000 exemption for tangible personal property will show up on 2008 tax bills.

Q: How does a person apply for portability?

A: The homesteaded Seminole County property owner should turn in a completed application to the office of the Seminole County property appraiser, or in the county where the new homestead is located, if not Seminole County. A list of all county property appraiser web sites is available from the Florida Department of Revenue at:

http://dor.myflorida.com/dor/property/appraisers.html

Q: Who's eligible for portability this year?

A: Any person who establishes a new Florida homestead for 2008 and filed to give up the previous homestead sometime after Jan. 1, 2007. In other words, a person who relocated from a homestead last year and is claiming a new homestead for 2008 is eligible. The deadline for 2008 homestead and portability applications is March 1. The portability benefit would show up on the 2008 tax bill.

Q: Who's eligible for portability after that?

A: Any Florida homesteaded property owner who establishes a new homestead for 2009 or any subsequent year-as long as the person had another valid homestead within two years of establishing the new one.

Q: How much is the portability benefit worth?

A: Any homesteaded property owner can transfer up to $500,000 of portability benefit to a new homestead. A person moving to a more expensive home transfers the dollar amount. A person moving to a less expensive home transfers the percentage value.

Q: I don't plan to move. What happens to the 3 percent cap on property tax assessments I got every year under Save Our Homes?

A: You're still protected. Save Our Homes doesn't go away.

Q: Is there an application for the additional homestead exemption?

A: No. The additional exemption will be granted automatically to anyone qualifying for a base $25,000 homestead exemption. It applies only if a property's assessed value exceeds $50,000.

Q: How much is the additional exemption?

A: The exemption is $25,000, but it does not apply to property taxes assessed for local schools. In other words, no additional exemption will be applied to a property's assessed value for the purposes of levying Seminole County school taxes.

Q: Do Seminole County business owners and mobile-home owners with tangible personal property have to apply for the exemption?

A: To receive the exemption, they must file their 2008 returns. If the value of tangible personal property is under $25,000, they will not have to file again the following year.

Q: When does the 10 percent cap on annual assessment increases for most non-homesteaded Seminole County properties go into effect?

A: It goes into effect in 2009. There will also be an application. Keep checking your Seminole County property appraiser web site for details. A list of all county property appraiser web sites is available from the Florida Department of Revenue at:

http://dor.myflorida.com/dor/property/appraisers.html

Read Also: Seminole County Home Owners, Are You confused About Amendment 1?

We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and real estate, Orlando homes for sale, Orlando relocation information, a free market analysis of your Orlando area home or statistics on homes in Orlando Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer questions.

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Confused about Florida's Property Taxes?

Seminole County home owners, are you confused about Amendment 1? Let us try to clarify a few points.

The Florida Department of Revenue and the local Seminole, Orange and other county property appraiser web sites (see below) are the best source for up-to-date information, including documents and forms related to portability, the additional homestead exemption and the tangible personal property tax exemption.

Heres a quick overview:

•· Increased homestead exemption. Seminole County homeowners will receive automatically. No action is necessary.

•· Portability is retroactive to Jan. 1, 2007. Seminole County home owners who sold their homestead last year and bought a new home that qualifies as a homestead as of Jan. 1, 2008, must apply by March 1, 2008, to the Seminole County property appraiser to transfer their Save Our Homes benefit.

A portability application form is available at most of the county property appraisers web sites.

LAKE COUNTY http://www.lakecopropappr.com/

ORANGE COUNTY http://www.ocpafl.org/

OSCEOLA COUNTY http://www.property-appraiser.org/

SEMINOLE COUNTY http://www.scpafl.org/scpaweb05/index.jsp

VOLUSIA COUNTY http://webserver.vcgov.org/index.html

•· $25,000 exemption for tangible personal property. This tax applies to businesses and certain owners of mobile homes. It does not apply to homestead property. In order to receive the exemption, taxpayers subject to the tax must file a tangible personal property return with their property appraiser by April 1, 2008.

10% annual assessment cap for non-homestead property. The 10% cap does not apply until next year. No action is necessary in 2008.

We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and real estate, Orlando homes for sale, Orlando relocation information, a free market analysis of your Orlando area home or statistics on homes in Orlando Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer questions.

Seminole County Florida Real Estate - Homes, Townhomes & Condos

Specializing in Seminole County Real Estate, Orlando Real Estate and Orange County Real Estate in Florida

Welcome to Seminole County and Greater Orlando Florida...one of the fastest growing and most spectacular economic centers in the world. Seminole County, Orange County and Orlando are many things...a bustling Metropolis, a thriving financial center and a playground that attracts people from all over the world to see it's many wonders.

One of the 10 fastest growing cities in the nation, the city population of Orlando, is nearly 1/4 million with a total of over 1.5 million people in the Metropolitan Statistical Area.

Seminole County is a comfortable, pleasant place to live...a place where nature is given an important role in the health and beauty of the city, a place where you are never far from a green and peaceful spot. Orlando is very similar, with more than 50 parks right in Orange County alone.

Located near the center of the Florida peninsula, Seminole County and Orlando have a fantastic climate. The temperatures are mild year-round, with rare occasions when the temperatures drop into the 30's at night during the winter months, but usually rise into the 60's and 70s again during the winter days. Temperatures over 100 are also rare, with frequent summer showers to cool the area. Annual rainfall is around 50 inches, and there is never any snow.

Seminole County, Orange County and Orlando offer a kaleidoscope of entertainment and culture, through the Bob Carr Performing Arts Center...the Amway Arena...the Orlando Science Center and Planetarium housing the state's largest reflective telescope...the Orlando Museum of Art...Mennello Museum of American Folk Art and also the spectacular Leu Botanical Gardens which has over 56 acres of beautiful and exotic plants and trees.

Seminole County and Orlando residents enjoy the many festivals and special events that are available throughout the year. Residents and visitors alike enjoy the excitement of the "Big 3"...DisneyWorld, Sea World and Universal Studios.

Sports fans enjoy NBA basketball with the Orlando Magic. The Orlando Predators of the Arena Football League also play at Amway Arena. The Citrus Bowl will host some of the games for the Florida team in the All American Football League beginning in 2008. NCAA college action, with a full range of sporting events, is enjoyed year round, courtesy of the UCF Golden Knights. Orlando is also home of the annual Citrus Bowl game.

Of course Florida is known for it's year-round golf and Seminole County is no exception. There are over 100 public, private and semi-private courses in the immediate vicinity. Some are PGA Championship quality with annual PGA and LPGA events played in throughout the year. If tennis is your game, you'll be delighted to find an abundance of tennis courts located in practically every neighborhood.

If you're into water sports, nearby Lake Monroe in Sanford is the home of the annual Florida Citrus Sailfest, the nation's largest sailing regatta. The Atlantic Ocean is less than an hour away for beach going, surfing and diving. You are a short drive and within easy view to the regular shuttle launches at Cape Canaveral, and you can even spend a day and enjoy the history of spaceflight at the Kennedy Space Center.

Seminole County is a paradise in the sun for every imaginable outdoor activity year-round, with beautiful parks and community facilities in every corner of the metro area. There are also more than 38,000 acres of state parks and nature areas within a short drive of the city. Wekiwa Springs State Park alone offers year-round natural springs, canoeing, kayaking, and over 6300 acres of scenic nature preserve. It's a picture perfect setting for all sorts of family relaxation and recreation activities. Seminole County residents are especially proud of their school system, with it's modern, well-staffed, schools and innovative programs. Teachers must pass competency examinations, and re-certify every five years. Florida is now recognized as being on the leading edge of the most modern and effective teaching methods. Another great aspect of Seminole County's excellent school system...Money Magazine has identified the school district as one of the top 100 in the country. All eight public high schools have been ranked by Newsweek in the top 3% of nationwide schools.

Many fine private and parochial schools are available for an alternative education. There are several two-year college campuses, including Seminole Community College, providing a broad choice of curriculum, and three four year institutions including the University of Central Florida, offering baccalaureate degrees. Rollins College, the oldest college in Florida offers graduate studies for both young and old alike.

State of the art health care is just minutes away, with over a dozen accredited hospitals and countless out-patient and walk-in clinics. The area has over 1200 physicians, surgeons and specialists available, as well as excellent specialized clinics such as the Arnold Palmer Hospital for children & woman along with area Cancer Centers.

Seminole County, Orange County and Orlando transportation systems are modern and efficient. Three limited access highways span the state. There are excellent freight, passenger, and commuter rail and Amtrak services available, including an award winning Lynx bus service for our residents and the Orlando International Airport as well as the Orlando-Sanford International Airport, have over 1600 flights per week going literally to every corner of the world. To top it all off, a new commuter rail system has been planned and will begin construction soon.

Seminole County's economic base is expanding by leaps and bounds. Low taxes and a large pool of highly skilled labor are bringing many hi-tech companies to the area, making the Greater Orlando area one of the five fastest growing job markets in the nation. Major employers include Disney, Adventist Health System, Vivendi Universal SA, Orlando Regional Healthcare System, Lockheed Martin, Starwood Hotels & Resorts, Marriott International, AT&T, Siemens, Sprint, AAA and many more. Seminole County is a GREAT place to live!

The shopping and dining opportunities are even more diverse than the recreational opportunities. Beautiful Malls are located throughout the area new outlet centers offer hundreds of the national stores you have come to love. Boutiques and strip centers offer all your favorite brands and styles, while countless restaurants, café's, bistros and cafeterias await you with every imaginable cuisine, from 3, 4 and 5 star restaurants, to a wide selection of ethnic foods and the best in fresh Florida seafood.

Seminole County is home to a huge variety of quality subdivisions covering the entire Orlando metro area. The selection of homes is fabulous! The neighborhoods are incomparable and there are spectacular executive homes, ideal for entertaining friends, neighbors, and business associates. Seminole County has an abundance of homes that are unique to Florida in design, flavor and location. Many on golf courses or lakes... and some with pools... homes in practically every price range and style imaginable...homes ideal for retirement or raising a family...and homes conveniently located for an easy commute.

Come watch glorious Seminole County sunsets through the palm trees and long needled pine trees draped with spanish moss. Come savor the excitement of a thriving community! Come and join us...in beautiful and dynamic Seminole County Florida!

We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and real estate, Orlando homes for sale, Orlando relocation information, a free market analysis of your Orlando area home or statistics on homes in Orlando Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer questions.

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Orlando Florida Real Estate - Homes, Townhomes & Condos

Orlando Florida Real Estate
Market Update - December, 2007

Specializing in Orlando Real Estate, Orange County Real Estate and Seminole County Real Estate in Florida

The current real estate market in Orlando, just like the rest of Central Florida, is a true buyers market. Inventory is at all time highs and the number of sales each month is way down. Prices have adjusted, time on market is up and sellers & home builders alike are offering great incentives to buy their homes. Distressed properties, such as short-sales, bank owned homes and foreclosures are becoming more and more common throughout Orlando. If you're currently in the market for a new home or investment property, now is the perfect time.

We're seeing many investors and first time buyers alike wanting to take advantage of the many great deals out there. Looking for that steal of a property? Just make sure you're working with a real estate agent who is knowledgeable and can help you avoid offending the seller, thus maximizing your chances of getting that deal.

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Here is the brief synopsis of the entire Central Florida market:

Orlando Florida Real Estate Statistics

Average Days on Market (DOM): 116
This is UP from 78 DOM in December 2006

Sales Closed: 1005
This is DOWN 48% from 1945 in December 2006

Current Listing Inventory: 24,298
This is UP from 19,537 in December 2006

When selling your Sanford, Florida home, you have to make sure you hire a competent real estate agent that will market your home aggressively and advise you on pricing your home effectively from the start. For example, over 90% of all home buyers are shopping online. This is where your real estate agent's efforts should be focused. Your home should also be featured with a virtual tour and multiple photos, as most buyers won't even consider your home without knowing what the interior looks like. We're not going to give away all our secrets here, so give us a call and we'll be happy to prepare a customized marketing plan for your home.

As you can see from the below data, the list price to sold price ratio remains fairly strong. This is important to note, as most homebuyers are savvy and won't even consider overpriced listings. The properties that are selling quickly are those that are marketed aggressively by competent real estate agent and are priced right from the start. Those that are priced high will stay on the market until the price is brought in line with today's actual market value.

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Here are some important Sanford, Florida statistics to keep you in the loop!

Sanford Florida Real Estate Statistics

Single Family Homes

Townhomes

Condos

Contact us today for information on Orlando real estate, Orlando homes for sale, Orlando relocation information, a free market analysis of your Orlando area home or statistics on homes in Orlando Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer questions.

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