Tom McMurray, GRI, e-PRO

A couple of bits of news I want to pass along. As you know the tax payers voted yes for Amendment One which reduced our property taxes, it also gave portability of our Save Our Homes reduced taxes when someone sold their homestead and moved to another. Well, it was also retroactive back to January 2007 and people who had moved their homestead during 2007 can get a reduction on the taxes for their new homestead. Initially anyone affected had to apply by February 29, 2008. Good news, if they missed that date, the State of Florida has extended everyone's chance to apply until some undisclosed future date.

If you have a business that has paid tangible tax in prior years, you will now get a $25,000 exemption from that same amendment. HOWEVER, you must file your application with the tax collectors office before April 1, 2008 to get the exemption. Make sure you get yours in before the deadline.

The Florida Association of REALTORS® has reported that there has been about a 30% increase in homes sales since the passage of Amendment One. I not sure we here in Citrus County have seen that much of an increase, but we have seen much more activity in the market. Now a trend change, but maybe a slight up-tick.