REAL ESTATE TAXES – If real estate taxes drop 25 percent through an amendment appearing on the November ballot, schools would need at least $8 billion from an alternate source. That raises the possibility, once again, of a sales tax on services, which could be levied on everything from lawn mowing to accounting.
HOMEOWNERS INSURANCE – Florida’s budget crisis has taken center stage this legislative session, but at least some issues surrounding property insurance should get a hearing. Different proposals have been suggested, but most follow the same philosophy: Get tougher on insurers. If you have a homeowners insurance policy on your Naples, Bonita Springs, or Estero residence, be sure to shop around for the best coverage and premiums – you might be surprised to find out the savings on your annual premium.
MORTGAGES – The government injected an additional $200 billion of financing for home loans today by relaxing capital requirements at Fannie Mae and Freddie Mac. The freed-up money will go toward buying mortgages of struggling homeowners.
ECONOMY – Wall Street storms higher after a three-quarter-point rate cut from the Fed and stronger-than-expected investment bank profits. However, the Commerce Department said home construction fell in February: housing starts fell 0.6 percent, while building permits were down 7.8 percent.
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