Sunday, January 27, 2008

Vote yes on Amendment 1!

Although a testy issue, I highly recommend that you vote "yes" on Amendment 1. Soaring real property taxes are a major burden on this states' construction/real estate industry. Although Amendment 1 may not be what we all want, it's certainly better than nothing. There was a great Q & A in last Monday's Miami Herald that explains the fundamentals behind Amendment 1. In a nutshell, Amendment 1 will: 1) double your homestead exemption (except for school asssessments); 2) allow you to carry over your "save our homes" tax savings to new homestead property (up to $500,000); 3) "save our homes" protection remains on current or newly acquired properties; 4) 10% cap on real property tax increases for businesses; etc...

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