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.