Wednesday, November 18, 2009

Florida homeowner tax breaks upheld in court

Homeowners in Florida benefit from a provision called 'Save Our Homes' which prevents the amount taxed on their primary residence to rise more than 3% a year. This benefit has helped long time homeowners realize significant tax savings that otherwise would have made it impossible for many to stay in their homes during the recent housing boom of rising home values. Last year the legislature passed a law allowing homeowners to 'port' these savings when they buy a new primary residence in the state. Some challenged the law.

The courts weighed in and homeowners win. See this article from the Florida Association of Realtors. If you want to know your tax savings if you are considering a move, contact me.
Court again upholds Fla. homeowner tax breaks

Here is the link
TALLAHASSEE, Fla. (AP) – Nov. 18, 2009 – An appeal court Tuesday rejected another challenge to state constitutional amendments that give property tax breaks to Florida’s primary homeowners, but not to owners of second homes.

No comments:

Post a Comment