Venice Bits

On the horizon (November 2012) is a well deserved, very needed property tax relief for non homestead property such as  vacation/second home buyers, investors and commercial owners. Amendment 4 offers a solution.

Amendment 4 would:

1.  Lower the cap on property tax assessment growth for rental and non homestead property ( commercial, second/vacation and investment) from 10 percent to 5 percent. 

2.  Continue with a 5% cap per year, more in inline with the current homestead property owners.

3.  Empower the Legislature to prohibit local government from raising property tax assessment when property values decline.

4. Permit first time homebuyers and buyers who haven't had a homestead exemption in the previous 3 calendar years to a tax discount of 50 percent of the home's assessed value, not to exceed the median homestead value in the country. 

VOTE YES FOR AMENDMENT 4!! 

Information obtained from Florida Realtor Jan/Feb 2012 Magazine