| Tampa Bay is an area that is full to the brim | | | | well as replace the "Save Our Homes" tax plan |
| with amazing homes and with new homes being | | | | already in place. The greatest value in this |
| built all the time there is pretty much an | | | | new deal will be home owners whose home value |
| endless selection to choose from. However, | | | | is in the 200 to 300k range. These home |
| this may be a moot point as the newly | | | | owners should see a significant decrease in |
| proposed property tax laws may severely | | | | their property taxes. However in areas like |
| affect the average home owner's ability to | | | | Tampa where homes are starting in the $400K |
| purchase a new home in the Tampa area. This | | | | range it really does not seem that the new |
| reality could have some fairly alarming | | | | tax law will have any positive impact. |
| effects on both the real estate and business | | | | |
| sectors as both have a huge and vested | | | | It would appear that a 60% vote by Florida |
| interest in the success of Tampa's home | | | | voters is needed in order for this bill to |
| sales. This will also have a huge effect on | | | | pass into law. Now, the question is is this |
| who is able to purchase homes as with | | | | going to happen? Current opinion is that the |
| property taxes on the upswing it seems likely | | | | bill will not pass with the percentage that |
| that the large yearly cost may cause some | | | | it requires and that the government need to |
| buyers to shy away from home ownership. Let's | | | | rethink the approach to the problem of high |
| have a closer look at exactly what this | | | | property taxes. The question that home owners |
| proposed property tax bill will mean to home | | | | should be asking is why are the taxes as high |
| owners and interested home buyers if it does | | | | as they are in the first place? And what can |
| in fact get passed. | | | | reasonably be done about the situation? It is |
| | | | apparent that a revamping of the property tax |
| The first amendment that is up for | | | | structure is indeed in order and the proposed |
| consideration is a homestead exemption of | | | | law only scratches the surface of what really |
| $50K to $195K. The idea is that this will | | | | needs to be done. |
| replace the current homestead exemption as | | | | |