Naples Real Estate News 06/03/08
REAL ESTATES TAXES
It appears that Florida cities aren’t hurting too much from the real estate tax cuts created by January’s Amendment 1 thanks to the number of commercial enterprises. But suburban and rural areas have lost more funding since private homeowners benefited more from the tax cuts, and many local governments say they must raise tax rates or cut spending.
HOMEOWNERS INSURANCE
Florida Insurance Commissioner Kevin McCarty signed off on plans to allow six insurance companies to take an additional 100,000 policies out of state-run insurer Citizens Property Insurance Corp.
INSURANCE COMPANY REQUEST REJECTED
State officials issued a final decision Friday rejecting Hartford Insurance Co. of the Midwest and its affiliates’ request for an average property insurance price increase of 40 percent. The Hartford decision is part of a campaign to "protect Florida consumers from unwarranted rate increases," Insurance Commissioner Kevin McCarty said in a statement.
ECONOMY
Federal Reserve Chairman Ben Bernanke signaled Tuesday that more interest rate cuts are unlikely because of concerns about inflation. Bernanke said he expects the Fed’s policy, along with the government’s economic stimulus package, to bring about "somewhat better economic conditions" in the second half of 2008.
Comments
Got something to say?