What a property tax mess? Law making and sausage making are not for the weak of heart or stomach, or so they say. Our Florida legislature recently passed a property tax bill that was supposed to cut our taxes for residents here. However, it is a real mish-mash. Some of it applies to permanent homesteaded residents, some to other residents, some to commercial, some to all property taxes and some not to school taxes.
NOW, we had another change called Amendment 5 that was going to be on the ballot in November of 2008. If enacted it would cut property taxes from 25% to 40% by transferring the tax burden from property owners and placing it on consumers in the form of an additional sales tax and "other" methods.
The judge said that the amendment, as it is written, is "misleading" to voters. Many think that an appeal is in the near future for this amendment, and that a final ruling should be forthcoming, probably from the Florida Supreme Court. So it may still make it on the ballot in time for the November elections.
In the end, the money has to come from somewhere or services have to be cut. That is how it works in our households and that is how it has to work for government. Otherwise we end up with billions of dollars of debt, or in the case of the US government trillions of dollars! Yikes.
In the end, how much do you want to bet that for all of this trouble few of us will be better off in the end. The insurance reforms sure did not do much to lower our bills. We will just have to wait and see what happens.
John Elwell - REALTOR
Bill Nye Realty, Inc.
Licensed in Florida