D-I-S-G-U-S-T-I-N-G...
Yep, that's how I feel about the Lobbyist-coddling, myopic Florida Senate and President of the Senate, Ken Pruitt. The House took an aggressive approach to cutting OUR taxes, only to be rebuffed by the high-and-mighty Senate...Below is a snapshot of the Senate's proposal, courtesy of the Florida Senate:
The Florida Senate's new property tax cut proposal would:
1. Make Save Our Homes portable. Owners can use the benefit, up to $500,000, when they buy a new home. People who moved in 2007 could get the benefit retroactively.
2. Double the $25,000 homestead exemption.
3. Cap annual nonhomestead property assessments at 10 percent. It does not apply to school taxes.
4. Exempt $25,000 in tangible personal property.
The portability is good - please don't get me wrong. But I am not too excited about bringing my HUGE $4800 tax bill with me around Tampa Bay. Sure it helps the longtime homeowner, which is great. But what about the TENS OF THOUSANDS of Homeowners who bought during the run-up and lost that cap??? What about the THOUSANDS of investors who purchased beach property for the purposes of renting and watched their tax bills skyrocket, thus making the investment aspect moot. What about the THOUSANDS OF BUSINESSES that are failing under skyrocketing insurance and tax bills...
History has proven that stifling taxes will only serve to stifle that which is taxed - we can not afford to stifle an already-burdened real estate sector that has take a 1-2 punch from insurance woes and mortgage defaults.
Monday, October 29, 2007
Monday, October 22, 2007
As a full-time Realtor®, I find myself talking more and more to homeowners who purchased during the artificial “boom” years (2004 – 2006) and now need to sell their properties. The problem they are realizing is that their home or investment property is worth LESS than what it was purchased for – through NO fault of their own.
If you think you may be in this dilemma, every second counts - please pick up the phone and call me. You DO have a number of options available to you and I can assist you navigate them SUCCESSFULLY.
BUYING
This may also be the time you “step up” in the market by BUYING a larger home or investment property. Real estate is cyclical and has historically risen in value. NOW is the time to get that pool home with an extra Bedroom, 9th-hole golfer’s retreat, or EVEN THAT WATERFRONT HOME WITH A DOCK FOR YOUR BOAT!
Call or email me today and I will send you a list of VALUE-PRICED homes that are EXACTLY what you are looking for.
Contact me to discuss your options!
If you think you may be in this dilemma, every second counts - please pick up the phone and call me. You DO have a number of options available to you and I can assist you navigate them SUCCESSFULLY.
BUYING
This may also be the time you “step up” in the market by BUYING a larger home or investment property. Real estate is cyclical and has historically risen in value. NOW is the time to get that pool home with an extra Bedroom, 9th-hole golfer’s retreat, or EVEN THAT WATERFRONT HOME WITH A DOCK FOR YOUR BOAT!
Call or email me today and I will send you a list of VALUE-PRICED homes that are EXACTLY what you are looking for.
Contact me to discuss your options!
Friday, October 12, 2007
URGENT.....URGENT.....
http://www.cutpropertytaxesnow.com/ has launched a grass-roots campaign to add a new Constitutional Amendment to our ballot which will dramatically LOWER your property tax bill.
****This measure is designed to rein in excessive property taxes, not do away with them completely. It also leave the provisions of Save Our Homes intact****
read below for directions on how you can change the state of affairs in the State of Florida:
1. Go To http://www.cutpropertytaxesnow.com/ to download a petition to sign.
2. Fill in your address and it will help fill out the petition for you
3. Print and mail it in.
4. Donate money for a successful campaign with the “contribute” button at the site.
5. Go to http://www.cuttaxesnow.com/ to sign up for this email distribution list (if this was forwarded to you).
Today, Cut Property Taxes Now - a new and separate organization - announced its proposal to amend the state constitution in 11/08 to cut taxes for all Florida Property Owners. The Key points of the proposal would:
Tax all property at no more than 1.25% of its taxable value.
Keep the effect of the Save Our Homes cap – permanently.
Provide strong tax relief to homestead and non-homestead property owners.
Cut local government property tax revenue by about 25% across the state.
Takes effect in January 2009.
To put it more simply, here are the taxes that would be paid on all property based on its taxable value (the value on your Trim notice after Save Our Homes and exemptions). This applies to homesteaders and non-homesteaders:
Taxable Value Property Tax
$100,000 $1,250
$200,000 $2,500
$300,000 $3,750
$500,000 $6,250
$750,000 $9,375
$1,000,000 $12,500
Last year, local Governments in Florida collected a record $30.4 billion in property taxes, nearly twice what was collected in 2000. The “One and a Quarter” Solution would have allowed $22.4 Billion, cutting local tax collections an average of about 25% (a quarter) around the state. The money is being wasted on corporate welfare, failed social welfare, government mismanagement and waste and excessive benefits packages for government workers.
Cut Property Taxes Now is headed by Lee Sullivan, of Bay Taxpayer Alliance in the Panhandle, David McKalip, M.D., of Cut Taxes Now in Tampa Bay and Ira Paul, of Independent Voices for Better Education in Miami-Dade.
Are you fed up with the overspending at your local governments? Are you disgusted that the politicians can’t find a way to cut taxes for all those who are actually paying the high taxes? Are you angry that tax collections have doubled since 2000, people are leaving the state, the Florida economy is spiraling downward and businesses can’t grow or must close?
The time is now. It is up to us. Let’s take action to bring government back down to size and achieve the tax relief our politicians will never give us.
Go to http://www.cutpropertytaxesnow.com/ and download the petition. Sign it and mail it in today.
Paid Political Advertisement Sponsored and Paid for In Kind by David McKalip, M.D., 1201 5th Ave. N. #210, St. Petersburg, FL 33705.
http://www.cutpropertytaxesnow.com/ has launched a grass-roots campaign to add a new Constitutional Amendment to our ballot which will dramatically LOWER your property tax bill.
****This measure is designed to rein in excessive property taxes, not do away with them completely. It also leave the provisions of Save Our Homes intact****
read below for directions on how you can change the state of affairs in the State of Florida:
Cut Property Taxes Now
Forward this message far and wide for tax relief
A Simple and Effective Citizens’ Tax Relief Proposal for Florida: 1.25% property tax cap for everyone.
See Dr. McKalip and Tax Fighter David Simpson on ABC Action News (Tampa Bay) tonight at 5 or 6 pm about the initiative. (10/11/07)
Press conference at St. Pete City Hall Wed. 10/17 2pm , 175 5th St. N. St. Petersburg.
Forward this message far and wide for tax relief
A Simple and Effective Citizens’ Tax Relief Proposal for Florida: 1.25% property tax cap for everyone.
See Dr. McKalip and Tax Fighter David Simpson on ABC Action News (Tampa Bay) tonight at 5 or 6 pm about the initiative. (10/11/07)
Press conference at St. Pete City Hall Wed. 10/17 2pm , 175 5th St. N. St. Petersburg.
1. Go To http://www.cutpropertytaxesnow.com/ to download a petition to sign.
2. Fill in your address and it will help fill out the petition for you
3. Print and mail it in.
4. Donate money for a successful campaign with the “contribute” button at the site.
5. Go to http://www.cuttaxesnow.com/ to sign up for this email distribution list (if this was forwarded to you).
Today, Cut Property Taxes Now - a new and separate organization - announced its proposal to amend the state constitution in 11/08 to cut taxes for all Florida Property Owners. The Key points of the proposal would:
Tax all property at no more than 1.25% of its taxable value.
Keep the effect of the Save Our Homes cap – permanently.
Provide strong tax relief to homestead and non-homestead property owners.
Cut local government property tax revenue by about 25% across the state.
Takes effect in January 2009.
To put it more simply, here are the taxes that would be paid on all property based on its taxable value (the value on your Trim notice after Save Our Homes and exemptions). This applies to homesteaders and non-homesteaders:
Taxable Value Property Tax
$100,000 $1,250
$200,000 $2,500
$300,000 $3,750
$500,000 $6,250
$750,000 $9,375
$1,000,000 $12,500
Last year, local Governments in Florida collected a record $30.4 billion in property taxes, nearly twice what was collected in 2000. The “One and a Quarter” Solution would have allowed $22.4 Billion, cutting local tax collections an average of about 25% (a quarter) around the state. The money is being wasted on corporate welfare, failed social welfare, government mismanagement and waste and excessive benefits packages for government workers.
Cut Property Taxes Now is headed by Lee Sullivan, of Bay Taxpayer Alliance in the Panhandle, David McKalip, M.D., of Cut Taxes Now in Tampa Bay and Ira Paul, of Independent Voices for Better Education in Miami-Dade.
Are you fed up with the overspending at your local governments? Are you disgusted that the politicians can’t find a way to cut taxes for all those who are actually paying the high taxes? Are you angry that tax collections have doubled since 2000, people are leaving the state, the Florida economy is spiraling downward and businesses can’t grow or must close?
The time is now. It is up to us. Let’s take action to bring government back down to size and achieve the tax relief our politicians will never give us.
Go to http://www.cutpropertytaxesnow.com/ and download the petition. Sign it and mail it in today.
Paid Political Advertisement Sponsored and Paid for In Kind by David McKalip, M.D., 1201 5th Ave. N. #210, St. Petersburg, FL 33705.
Thursday, October 11, 2007
So you've been reading the papers, listening to real estate studies, and heeding the market...some call it a "blood bath", some call it a "blood-letting", while others call it a "blood donation" as sellers are giving back the gains they have seen for the past 3 years.
Whatever you call it, it's GREAT NEWS for Buyers! It has been a long, long time since buyers have had so much inventory at continuously shrinking prices. So what have you been waiting for?
Ok, so you are ready to buy...how are you going to do your research? Let's take a local buyer and some steps they can take to gain knowledge of a particular area:
Whatever you call it, it's GREAT NEWS for Buyers! It has been a long, long time since buyers have had so much inventory at continuously shrinking prices. So what have you been waiting for?
Ok, so you are ready to buy...how are you going to do your research? Let's take a local buyer and some steps they can take to gain knowledge of a particular area:
- Call a Realtor - a realtor will take your requirements, such as size, amenities, place of employment, schools, etc., and find some areas that would best suit you.
- Drive - take a weekend and drive to the areas that may interest you. Drive through the neighborhoods that you like and take notes of the ones you DEFINITELY do not want to live in.
- Wikipedia.com - a great way to get snapshot views on the history, make-up, and details for cities in and around your search area.
- Web resources - websites such as Zillow.com and Trulia.com can give you recent comparable sales, homes for sale, and a visual pictures of values in areas of interest.
- Most county agencies have gone to a GIS method of mapping their area. GIS stands for Geographic Information Systems and maps such items (based on GPS measurements) as zoning, lot lines, flood plain, road capacity, schools, and much more. Pinellas County offers the ability to overlap an aerial image on top, as well.
- Call your realtor for showings! The only way to truly dtermine value (as each person has a different opinion of value) is to get INTO each home that fits your criteria. You will quickly see one homes value as compared to another and another...
- Pull the Trigger! Make that offer and start your move.
Obviously, house-hunting takes time and effort and an open mind - keep at it, do your due-diligence, and you will be an EDUCATED buyer.
Cheers!
Monday, October 01, 2007
The real estate onslaught continues...
September proved a sluggish month not only temperature-wise, but also with home sales. News outlets around the country reported late last week that NEW home sales fell to a 7 YEAR LOW, while the sales of EXISING homes has fallen to a 5 year low...a quick check of the MLS shows Pinellas County saw only 636 home sales close in the month of September. 636 homes would be a lot if we didn't have 17,256 homes available.
Yep, that's hardly a 4% absorption rate.
September is normally a slower month anyway - what remains to be seen is how we finish the year. The tax reform bill approved by the Legislature has been defeated in a court of law for being to "vague", which will most likely keep it off the January ballot. Not the best of news for our market in Florida.
On the bright side, tropically-induced weather has been limited and will most likely NOT impact our communities.
Has the Federal Reserve's half-percentage point cut (to 4.75 percent) helped? Not really - it was intended for the credit market more than anyone else. It was the Fed's first cut in four years, though.
Sellers, I know you hate to hear it but if you want/need to sell, get those prices down. It doesn't matter what you could have made last year or the year before that. Everyday your home sits on the market is a day you have lost value.
Period.
Buyers, there are deals to be had! If you want to see what's out there, drop me an email or a call to discuss.
FYI, next week we will touch on the "R" word that many economists, market gurus, and media outlets are starting to use more frequently...
September proved a sluggish month not only temperature-wise, but also with home sales. News outlets around the country reported late last week that NEW home sales fell to a 7 YEAR LOW, while the sales of EXISING homes has fallen to a 5 year low...a quick check of the MLS shows Pinellas County saw only 636 home sales close in the month of September. 636 homes would be a lot if we didn't have 17,256 homes available.
Yep, that's hardly a 4% absorption rate.
September is normally a slower month anyway - what remains to be seen is how we finish the year. The tax reform bill approved by the Legislature has been defeated in a court of law for being to "vague", which will most likely keep it off the January ballot. Not the best of news for our market in Florida.
On the bright side, tropically-induced weather has been limited and will most likely NOT impact our communities.
Has the Federal Reserve's half-percentage point cut (to 4.75 percent) helped? Not really - it was intended for the credit market more than anyone else. It was the Fed's first cut in four years, though.
Sellers, I know you hate to hear it but if you want/need to sell, get those prices down. It doesn't matter what you could have made last year or the year before that. Everyday your home sits on the market is a day you have lost value.
Period.
Buyers, there are deals to be had! If you want to see what's out there, drop me an email or a call to discuss.
FYI, next week we will touch on the "R" word that many economists, market gurus, and media outlets are starting to use more frequently...
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