I came across a couple of tax simulators created for the Florida Association of Realtors. The first simulator is a property tax simulator that will allow you to calculate your taxes under the newly proposed Super Homestead and the current Save the Homes tax system. It allows you to enter specific information based on your personal situation and will analyze which tax system would work best for you.
The second simulator helps you to determine if your taxes would be lower with the proposed Super Homestead. The tax reform is slated for the January 2008 ballot.
The current property tax situation has many people caught in a quandary. When originally proposed and approved, the Save our Homes idea was well received. I don’t know anyone that could have imagined back then, how our property values would have appreciated. The good news is most all homeowners have had tremendous equity improvement in their homes. The bad news is what your new tax would be if you bought a new home.
Our elected officials MUST come together and approve a major form of relieve to allow the residents of Florida to keep their property taxes affordable, to allow residents to move buy new homes with some form of portability and to get our economy moving in the right direction.
Many of our local builders, contractors, mortgage underwriters and other friends and neighbors that were employed in the housing sector have been devastated by layoffs and company closings. A tax bill that offers true relief will kick start our local economy, create many new jobs and get some of the old ones back.
Please contact your public officials and get them to get on board and get us all some “real” relief.
Lets talk…Are you for or against the proposed changes? Give us your thoughts.