Naples Florida Real Estate News - 10/17/07
REAL ESTATE TAXES - A Florida House committee approved significant real estate tax relief yesterday afternoon that creates a 3 percent assessment cap on non-homestead and commercial properties that the state currently offers only to homestead properties. But senators, many unconvinced, now will consider the House’s revisions.
HOMEOWNERS INSURANCE - State regulators are getting tough on insurers, issuing subpoenas for records from Allstate insurance companies in Florida, as well as Cincinnati Insurance and Cincinnati Indemnity. They want answers on why the rate decreases promised to homeowners haven’t materialized.
MORTGAGES - Noting that the mortgage crisis is continuing to affect the nation and financial markets, Florida Chief Financial Officer Alex Sink has joined a coalition of national elected officials and consumer organizations urging mortgage companies and lenders to adhere to its mortgage protection principles.
HOUSING MARKET - U.S. Treasury Secretary Henry Paulson called for Congress and private mortgage companies to move quickly to help homeowners struggling to pay their mortgages, saying the “housing decline is still unfolding and I view it as the most significant current risk to our economy.”
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