Central Florida Real Estate Blog

head_left_image

Tax measure goes easy on the rich

In 1992 in Florida, a property tax break measure entitled, "Save Our Homes," was passed. What this does is take the Tax Assessed Value of your home at the time of purchase and limit this from being increased more than 3% per year for the current owner until the home is sold. The intention of this was to be of assistance mainly to the elderly from being taxed out of their homes. Unfortunately, the wealthy have received a proportionately greater property tax benefits than those intended. Read the complete article at http://www.orlandosentinel.com/orl-sohday206oct30,0,6678504.story

Until Next Time - MARC IT SOLD!
1 comment • Marc Grossman, GRI - Greater Orlando Real Estate Broker • December 22 2006 07:55AM

Comments

Marc, that is how numbers work. To keep the more expensive homes and estates in your state they get a larger break. You can do as Louisiana did and drive them off. You get a % of nothing. When we we learn how numbers work?
Posted by Eric Bouler (Prudential Gardner,Licensed in La.) over 2 years ago

Participate

(optional)
What does the graphic say?