Thursday, January 17, 2008

Citizens Against Excessive Taxes

Cut Property Taxes Now is a very serious citizens initiative which proposal is on the web at:
www.cutpropertytaxesnow

I consider this tax reduction package one of the most interesting and I tend to support it.

Notwithstanding that I will possibly vote YES on January 29th, to the proposed amendments on the present property tax system, I believe that this new initiative would be the complement needed if we want to really get serious about reforming the system in an equitable way.

The January 29th ballot would be mostly about the "portability" of the "save-our-homes" protection. This will perfect and consolidate a provision that has "saved the homes" of many Florida residents against the continuous greed of local government.

However the inequity of the system is blatant. Non residents, snowbirds, new home buyers, businesses, investors, are paying a much higher share of local property taxes, without enjoying any additional privilege. This could even be a challenge to the constitutionality of the "save-our-homes" protection if we do not address it now.

By limiting the taxation power of cities and counties, the new initiative could be the shot in the arm that Florida Real Estate is desperately needing. And a great relief to our middle class.

In effect, all the roll backs voted by the legislature and even the new January 29th amendment, if approved, can be easily bypassed by simply increasing the tax rates. To explain it more in detail, your home assessed value can stay the same or be reduced but your taxes can still go up if the tax percentage (millage) applied in calculating your taxes is increased.

The new initiatives addresses this loophole.

They need 650,000 signatures by January 29th.

They have about 75,000 now.

You can watch their video at:

http://www.youtube.com/cutpropertytaxesnow

You can also make a small contribution on their website: www.cutpropertytaxesnow.com

I am not a friend of any of the people or groups that have put together this initiative.
I have written about the Florida property tax issue and I believe that it is a major problem that affect the lives of all Florida property owners.

If you have any comments, either negative or positive, please post it here.

I am a Licensed Real Estate Professional in Florida.
My website is: www.condo-southflorida.com
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