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FLORIDA'S REAL ESTATE BLOG

HOMESTEAD EXEMPTIONS ... DOUBLE OR NOT ?

March 29th, 2007 7:55 PM

Florida voters approved a constitutional amendment in 2006 to allow local governments to give an increased homestead exemption on property taxes to low income seniors. HB 333 would give cities and counties the option of doubling an existing exemption on primary owner-occupied homes from $25,000 to $50,000 for qualifying low income seniors. The Senate and the House have passed the bill and it is now being sent to the Governor. A full analysis of the bill can be found at www.flhouse.gov , select "BILLS" in the header and then type in the Bill Text field the words "homestead exemption" or enter "HB 333" in the Bill # field. Because this exemption is a local option, it may OR may not have an impact on You or Seniors you may know. I will keep you updated as information is made available on the Florida legislative sites. If you are expecting this exemption to be enacted in your area, make contact with your local county and city representatives and let them know.

Posted by Joanne Trugman on March 29th, 2007 7:55 PMPost a Comment (0)

CITIZENS INSURANCE RECEIVES MILLIONS FROM IRS

March 21st, 2007 10:42 PM

A REFUND from the IRS of more than $168 million was paid to Citizens Property Insurance Corporation, as part of a court battle that started when a predecessor of Citizens, Florida Windstorm Underwriting Association (FWUA) sued the IRS for a refund of previously paid federal income taxes. The IRS had alleged the FWUA "was not a tax-exempt entity and was subject to federal income tax obligations." As part of the agreement, the IRS declared Citizens' predecessor a tax exempt entity. Citizens was created in 2002 by the Florida Legislature, as a tax-exempt, public, not-for-profit corporation and it's tax status has not been an issue. The refund money is expected to be used to pay future claims and expenses. (As reported in new briefs from the Florida Association of Realtors®)

Posted by Joanne Trugman on March 21st, 2007 10:42 PMPost a Comment (0)

NEW WEBSITES MAKE FLORIDA GOVERNMENT MORE ACCESSIBLE

March 15th, 2007 6:16 PM

As reported by the Florida Association of Realtors® (FAR) Web site news links, several new Florida Web sites are available in an attempt to make state government more accessible. As FAR reports, Governor Crist has told state agencies to "review their communication strategies and establish new standard guidelines which should allow future state publication and products easier to find". www.flgov.com/og_home (The Office of Open Government Web site) includes information about Florida's open government, public record laws and links to organizations that provide public record resources. Next, you may want to visit www.flgov.com/pl_home ( Plain Language Initiative) where consumers will be able to request a translation of a state government document either online or by fax. There are examples of before-and-after documents, edited to make language easily understood. And for those of you interested in 'Insurance' you may find www.fldfs.com/ica to be of interest, information is present regarding the Insurance Consumer Advocate and contacts for consumers with insurance related questions. I have visited all of these sites, most were up and running, however, I did find several 'error pages' when I attempted to view specific pages. I would expect this should be resolved as the bugs are worked out. Great resource for all of us.

Posted by Joanne Trugman on March 15th, 2007 6:16 PMPost a Comment (0)

MORE DISCUSSION IN THE HOUSE ...

March 8th, 2007 6:29 PM

As the Florida House of Representatives debates the property tax issues, the proposed bills are available on-line for your reading pleasure, as well as the progress as the bill moves through the proper channels @ www.myfloridahouse.gov As of today, The Government Efficiency and Accountability Council has passed the bill on to the Committee on State Affairs. The proposed tax rollback would save statewide property owners billions of dollars.

The Florida Senate website does not show the same progress, however, there are discussions .... www.flsenate.gov

Posted by Joanne Trugman on March 8th, 2007 6:29 PMPost a Comment (0)

FLORIDA REAL ESTATE PROPERTY TAX .... WHAT'S YOUR OPINION ?

March 3rd, 2007 1:55 PM

SATURDAY, MARCH 3, 2007 : In February, lawmakers in the state House of Representatives proposed plans for lowering and/or eliminating the real estate property tax burden. Discussion in the House of Representatives, beginning this next week, will become heated as one proposal would increase the state sales tax, another would increase homestead exemptions, and some Florida residents are suggesting 'Vegas Style Casinos' as the answer to our revenue needs in the state... What is your opinion ? Please send me an email with your ideas .... dtrugman@tampabay.rr.com

Posted by Joanne Trugman on March 3rd, 2007 1:55 PMPost a Comment (0)