Florida Real Estate News - 03/29/07
FLORIDA PROPERTY TAXES - Gov. Charlie Crist will soon get a bill on his desk that implements a state constitutional amendment approved by voters last year. The amendment gives local governments the option to grant an increased property tax exemption to low-income senior citizens.
It seems to me, that the whole issue of property tax reform needs to be solved in its entirety before allowing local governments the option of granting increased property tax exemptions. Some of the proposed changes to property taxes does involve increase the tax value on existing homes that have had significant Save Our Homes (SOH) differentials. It seems such actions could cause the bigger issue of property tax reform to get back to where it was before.
ECONOMY - Federal Reserve Chairman Ben Bernanke told Congress on Wednesday he doesn’t believe the U.S. economy will slip into a recession and rejected a notion that the country’s economic expansion could be running out of steam.
FLORIDA LEGISLATURE - The Florida House could soon vote on a bill to offer tax breaks for storm preparation supplies bought during a 12-day, tax-free period at the beginning of hurricane season. State representatives also debated a measure to fix technical glitches in the broad hurricane insurance bill lawmakers passed during January’s special session.
Last year there was a tax break period for the purchase of hurricane supplies. I did my hurricane supply purchases at that time and found it a worthwhile savings. However, there were no hurricane threats last year to Florida’s west coast.
FLORIDA ENVIRONMENT - A case coming before the Florida Supreme Court in April could lead to major changes in the way the state Department of Environmental Protection issues permits for beach restoration projects.
If you are thinking about buying or selling your Naples real estate - be sure to contact Glenn Ginsburg. Glenn also serves the Bonita Springs real estate market.
Florida Real Estate News - 03/28/07
FLORIDA PROPERTY TAX REFORM
The Florida Senate has said little about property tax reform so far; but yesterday, Democrats released a wide-ranging plan that would cut property taxes for most homeowners. However, longtime homeowners, who already pay reduced taxes thanks to the Save Our Homes amendment, would pay more.
FLORIDA CONSUMER CONFIDENCE
Rising gas prices, a soft housing market and a sudden dip in the stock market contributed to a six-point drop in Florida’s consumer confidence to 86 in March, its lowest level in six months, according to UF economists.
MORTGAGE FRAUD
Beazer Homes USA Inc., which recently suffered hefty losses amid a downturn in the housing market, now faces a federal investigation of mortgage fraud and other allegations.
CONSTRUCTION
Miami-based Lennar announced a 73 percent drop in first-quarter earnings yesterday, the latest homebuilder impacted by a slowing home market. Lennar says that southwest Florida and the area north of Palm Beach County have been hit hard, but Orlando continues to do fairly well.
US Home is a part of the Lennar corporation.
SURE OF THAT INSURER?
The Florida Department of Financial Services’ (FDFS) Division of Agent and Agency Services, Bureau of Investigation, investigates property insurance violations by Florida insurance agents, as well as health, life, auto, workers’ compensation, bail bond and title insurance. “Consumers trust insurance agents to ensure they receive adequate coverage and the services they pay for,†says Florida Chief Financial Officer Alex Sink. “We will aggressively pursue any agent who takes advantage of a customer, especially as so many Floridians are struggling to keep up with rising premiums.†Sink yesterday announced the arrest of Christopher Millsaps, 45, of Orlando, who targeted several larger commercial business clients in Orange and Seminole counties. Millsaps told them they owed additional insurance premiums and to remit the payments directly to him, though he then deposited the money into his personal account. With the assistance of Millsaps’ agency employer, the FDFS confirmed necessary coverage to all of his victims. To check on the status of an insurance agent’s license or to file a complaint against an agent, call (800) 342-2762 or log on to the FDFS Web site.
For more information about these new items or about the Naples real estate market be sure to contact me.