O/T SOH, Prop Taxes, FL Economy

Dano · Joined: 07 Aug 2007 Posts: 6

Two Questions:

Do you think the property tax situation is one factor hindering FL's
economy?

If yes, do you think making SOH a tax deferral vs tax savings would help
situation?

Tax deferral until a retitle happens.(sale, arms length change of
ownership).

Full disclosure: It is my belief that my prop taxes are 50-100% higher than
neighbors because I moved in Jan of 2004 and wasn't re-assessed until Dec of
2005. Probably the peak of value. I've lived in Florida for 33 consecutive
years and am trying to raise and hopefully grow a young family. I feel SOH
is a burden to my family as well as an opposite effect on many people who
frankly don't "need" my tax subsidy. I was wondering if changing Tax
savings to Tax deferral was something people who are benefitting from SOH
would see as a doable compromise.

My first idea was start a Florida T(ax) Party. Encourage all those who are
the losers in SOH to simply not send in the check. Imagine the chaos that
would bring. It would almost certainly force a change in SOH as the state
and counties would be deep in the red in short order.

Thanks in advance for your opinions.

Archived from group: alt>sports>football>pro>tampabay-bucs

Flycoon · Joined: 03 Dec 2007 Posts: 16

Dano wrote:
> Two Questions:
>
> Do you think the property tax situation is one factor hindering FL's
> economy?
>
> If yes, do you think making SOH a tax deferral vs tax savings would help
> situation?
>
> Tax deferral until a retitle happens.(sale, arms length change of
> ownership).
>
> Full disclosure: It is my belief that my prop taxes are 50-100% higher than
> neighbors because I moved in Jan of 2004 and wasn't re-assessed until Dec of
> 2005. Probably the peak of value. I've lived in Florida for 33 consecutive
> years and am trying to raise and hopefully grow a young family. I feel SOH
> is a burden to my family as well as an opposite effect on many people who
> frankly don't "need" my tax subsidy. I was wondering if changing Tax
> savings to Tax deferral was something people who are benefitting from SOH
> would see as a doable compromise.
>
> My first idea was start a Florida T(ax) Party. Encourage all those who are
> the losers in SOH to simply not send in the check. Imagine the chaos that
> would bring. It would almost certainly force a change in SOH as the state
> and counties would be deep in the red in short order.
>
> Thanks in advance for your opinions.
>
>
>

The 3% cap on property tax has definitely pushed higher prop taxes on
new home buyers. Completely unfair, if the state needs more revenue all
taxpayers should share the burden. This has devastated small counties
with very few new homes, maybe it is time to get rid of the 3% limit on
prop taxes and look at dropping millage rates and instituting a
(AAAAAHHHHH!!!!!) state income tax.

Phonedude · Joined: 06 Aug 2007 Posts: 2

"Dano" wrote in message $L%6.8969@bignews3.bellsouth.net...
> Two Questions:
>
> Do you think the property tax situation is one factor hindering FL's
> economy?
>
> If yes, do you think making SOH a tax deferral vs tax savings would help
> situation?
>
> Tax deferral until a retitle happens.(sale, arms length change of
> ownership).
>
> Full disclosure: It is my belief that my prop taxes are 50-100% higher
> than neighbors because I moved in Jan of 2004 and wasn't re-assessed until
> Dec of 2005. Probably the peak of value. I've lived in Florida for 33
> consecutive years and am trying to raise and hopefully grow a young
> family. I feel SOH is a burden to my family as well as an opposite effect
> on many people who frankly don't "need" my tax subsidy. I was wondering
> if changing Tax savings to Tax deferral was something people who are
> benefitting from SOH would see as a doable compromise.
>
> My first idea was start a Florida T(ax) Party. Encourage all those who
> are the losers in SOH to simply not send in the check. Imagine the chaos
> that would bring. It would almost certainly force a change in SOH as the
> state and counties would be deep in the red in short order.
>
> Thanks in advance for your opinions.

I agree that the SOH amendment has resulted in an unfair tax system which
must be remedied. I have two suggestions -- first, in line with what you
suggest as a tax deferral, is a simple sales tax on houses to be paid at the
time of sale. We already pay document stamp taxes on the deed and those
could simply be raised to whatever level makes sense.

Second, I support the elimination of property taxes altogether. For all
property, not just homesteads. Replace the revenue with an increase in the
sales tax and a normal sales tax on home sales. That way homeowners don't
have to pay until they sell and their appreciation should make it easier.
(I know this doesn't help people who bought in 04 or 05 right now, but it
will in the long run. This would not only eliminate the unfairness,
complexity, and limitless growth of property taxes, but would also elminate
two elected officials and their entire departments for each county -- the
Property Appraisor and the Tax Collector. Or at least scale them down
dramatically.

More importantly, I support a constitution limit on the growth of goverment
spending to the increase in the CPI and the growth in population. Spending
growth in excess of that should be put on the ballot with an explanation and
debate of the need.

Here are two petitions to amend the State Constitution to accomplish those
two things.

http://election.dos.state.fl.us/initiatives/fulltext/pdf/45505-11.pdf

http://election.dos.state.fl.us/initiatives/fulltext/pdf/45505-8.pdf

Have a look.

PD

Flycoon · Joined: 03 Dec 2007 Posts: 16

Phonedude wrote:
> "Dano" wrote in message
> $L%6.8969@bignews3.bellsouth.net...
>> Two Questions:
>>
>> Do you think the property tax situation is one factor hindering FL's
>> economy?
>>
>> If yes, do you think making SOH a tax deferral vs tax savings would help
>> situation?
>>
>> Tax deferral until a retitle happens.(sale, arms length change of
>> ownership).
>>
>> Full disclosure: It is my belief that my prop taxes are 50-100% higher
>> than neighbors because I moved in Jan of 2004 and wasn't re-assessed until
>> Dec of 2005. Probably the peak of value. I've lived in Florida for 33
>> consecutive years and am trying to raise and hopefully grow a young
>> family. I feel SOH is a burden to my family as well as an opposite effect
>> on many people who frankly don't "need" my tax subsidy. I was wondering
>> if changing Tax savings to Tax deferral was something people who are
>> benefitting from SOH would see as a doable compromise.
>>
>> My first idea was start a Florida T(ax) Party. Encourage all those who
>> are the losers in SOH to simply not send in the check. Imagine the chaos
>> that would bring. It would almost certainly force a change in SOH as the
>> state and counties would be deep in the red in short order.
>>
>> Thanks in advance for your opinions.
>
> I agree that the SOH amendment has resulted in an unfair tax system which
> must be remedied. I have two suggestions -- first, in line with what you
> suggest as a tax deferral, is a simple sales tax on houses to be paid at the
> time of sale. We already pay document stamp taxes on the deed and those
> could simply be raised to whatever level makes sense.
>
> Second, I support the elimination of property taxes altogether. For all
> property, not just homesteads. Replace the revenue with an increase in the
> sales tax and a normal sales tax on home sales. That way homeowners don't
> have to pay until they sell and their appreciation should make it easier.
> (I know this doesn't help people who bought in 04 or 05 right now, but it
> will in the long run. This would not only eliminate the unfairness,
> complexity, and limitless growth of property taxes, but would also elminate
> two elected officials and their entire departments for each county -- the
> Property Appraisor and the Tax Collector. Or at least scale them down
> dramatically.
>
> More importantly, I support a constitution limit on the growth of goverment
> spending to the increase in the CPI and the growth in population.

Imagine if this was applied to the Federal Gov't and the voting public
had to approve the Iraq War and Department of Homeland Security with
corresponding tax increases to pay for both. Say what you will about
Clinton, but the pay-go philosophy was a good one, seemed to be rooted
in the Republican party philosophy of Barry Goldwater.

Spending
> growth in excess of that should be put on the ballot with an explanation and
> debate of the need.
>
> Here are two petitions to amend the State Constitution to accomplish those
> two things.
>
> http://election.dos.state.fl.us/initiatives/fulltext/pdf/45505-11.pdf
>
> http://election.dos.state.fl.us/initiatives/fulltext/pdf/45505-8.pdf
>
> Have a look.
>
> PD
>
>
>

Dano · Joined: 07 Aug 2007 Posts: 6

Sounds like you sort of agree with the concept of deferral. Your just
calling it a home sales tax. The problem I have with a sales tax is how
much? We already know what savings the SOH is taking from Peter to pay
Paul. This would provide a slow fix and wouldn't force anybody from their
home. The nursing homes and heirs probably won't like it though. Everybody
wants something for nothing.

I agree with caps on government spending growth.

I don't like the idea of raising and depending on sales taxes however.
Volatility is the problem.

I'll read your links later. But you didn't answer if you were a SOH winner
or loser.

"Phonedude" wrote in message $JF.537@trnddc01...
>
> "Dano" wrote in message
> $L%6.8969@bignews3.bellsouth.net...
>> Two Questions:
>>
>> Do you think the property tax situation is one factor hindering FL's
>> economy?
>>
>> If yes, do you think making SOH a tax deferral vs tax savings would help
>> situation?
>>
>> Tax deferral until a retitle happens.(sale, arms length change of
>> ownership).
>>
>> Full disclosure: It is my belief that my prop taxes are 50-100% higher
>> than neighbors because I moved in Jan of 2004 and wasn't re-assessed
>> until Dec of 2005. Probably the peak of value. I've lived in Florida
>> for 33 consecutive years and am trying to raise and hopefully grow a
>> young family. I feel SOH is a burden to my family as well as an opposite
>> effect on many people who frankly don't "need" my tax subsidy. I was
>> wondering if changing Tax savings to Tax deferral was something people
>> who are benefitting from SOH would see as a doable compromise.
>>
>> My first idea was start a Florida T(ax) Party. Encourage all those who
>> are the losers in SOH to simply not send in the check. Imagine the chaos
>> that would bring. It would almost certainly force a change in SOH as the
>> state and counties would be deep in the red in short order.
>>
>> Thanks in advance for your opinions.
>
> I agree that the SOH amendment has resulted in an unfair tax system which
> must be remedied. I have two suggestions -- first, in line with what you
> suggest as a tax deferral, is a simple sales tax on houses to be paid at
> the time of sale. We already pay document stamp taxes on the deed and
> those could simply be raised to whatever level makes sense.
>
> Second, I support the elimination of property taxes altogether. For all
> property, not just homesteads. Replace the revenue with an increase in
> the sales tax and a normal sales tax on home sales. That way homeowners
> don't have to pay until they sell and their appreciation should make it
> easier. (I know this doesn't help people who bought in 04 or 05 right now,
> but it will in the long run. This would not only eliminate the
> unfairness, complexity, and limitless growth of property taxes, but would
> also elminate two elected officials and their entire departments for each
> county -- the Property Appraisor and the Tax Collector. Or at least scale
> them down dramatically.
>
> More importantly, I support a constitution limit on the growth of
> goverment spending to the increase in the CPI and the growth in
> population. Spending growth in excess of that should be put on the ballot
> with an explanation and debate of the need.
>
> Here are two petitions to amend the State Constitution to accomplish those
> two things.
>
> http://election.dos.state.fl.us/initiatives/fulltext/pdf/45505-11.pdf
>
> http://election.dos.state.fl.us/initiatives/fulltext/pdf/45505-8.pdf
>
> Have a look.
>
> PD
>
>
>

Dano · Joined: 07 Aug 2007 Posts: 6

My theory why we have no state income tax is because most here don't work.
It would be interesting to know what rate an income tax would need to be to
offset the 6% state sales tax. And as most don't even realize Jeb Bush cut
the "intangible tax" to zero. I would believe that most don't know what the
"intangible" tax was. I guess that burden went onto "new" home buyers too.

"Flycoon" wrote in message $0%3.853@trnddc06...
> Dano wrote:
>> Two Questions:
>>
>> Do you think the property tax situation is one factor hindering FL's
>> economy?
>>
>> If yes, do you think making SOH a tax deferral vs tax savings would help
>> situation?
>>
>> Tax deferral until a retitle happens.(sale, arms length change of
>> ownership).
>>
>> Full disclosure: It is my belief that my prop taxes are 50-100% higher
>> than neighbors because I moved in Jan of 2004 and wasn't re-assessed
>> until Dec of 2005. Probably the peak of value. I've lived in Florida
>> for 33 consecutive years and am trying to raise and hopefully grow a
>> young family. I feel SOH is a burden to my family as well as an opposite
>> effect on many people who frankly don't "need" my tax subsidy. I was
>> wondering if changing Tax savings to Tax deferral was something people
>> who are benefitting from SOH would see as a doable compromise.
>>
>> My first idea was start a Florida T(ax) Party. Encourage all those who
>> are the losers in SOH to simply not send in the check. Imagine the chaos
>> that would bring. It would almost certainly force a change in SOH as the
>> state and counties would be deep in the red in short order.
>>
>> Thanks in advance for your opinions.
>>
>>
>>
>
> The 3% cap on property tax has definitely pushed higher prop taxes on new
> home buyers. Completely unfair, if the state needs more revenue all
> taxpayers should share the burden. This has devastated small counties
> with very few new homes, maybe it is time to get rid of the 3% limit on
> prop taxes and look at dropping millage rates and instituting a
> (AAAAAHHHHH!!!!!) state income tax.

Dano · Joined: 07 Aug 2007 Posts: 6

On the ballot amendments.

I don't have nearly as much faith in the state legislature to want to do
either of those things.

"Phonedude" wrote in message $JF.537@trnddc01...
>
> "Dano" wrote in message
> $L%6.8969@bignews3.bellsouth.net...
>> Two Questions:
>>
>> Do you think the property tax situation is one factor hindering FL's
>> economy?
>>
>> If yes, do you think making SOH a tax deferral vs tax savings would help
>> situation?
>>
>> Tax deferral until a retitle happens.(sale, arms length change of
>> ownership).
>>
>> Full disclosure: It is my belief that my prop taxes are 50-100% higher
>> than neighbors because I moved in Jan of 2004 and wasn't re-assessed
>> until Dec of 2005. Probably the peak of value. I've lived in Florida
>> for 33 consecutive years and am trying to raise and hopefully grow a
>> young family. I feel SOH is a burden to my family as well as an opposite
>> effect on many people who frankly don't "need" my tax subsidy. I was
>> wondering if changing Tax savings to Tax deferral was something people
>> who are benefitting from SOH would see as a doable compromise.
>>
>> My first idea was start a Florida T(ax) Party. Encourage all those who
>> are the losers in SOH to simply not send in the check. Imagine the chaos
>> that would bring. It would almost certainly force a change in SOH as the
>> state and counties would be deep in the red in short order.
>>
>> Thanks in advance for your opinions.
>
> I agree that the SOH amendment has resulted in an unfair tax system which
> must be remedied. I have two suggestions -- first, in line with what you
> suggest as a tax deferral, is a simple sales tax on houses to be paid at
> the time of sale. We already pay document stamp taxes on the deed and
> those could simply be raised to whatever level makes sense.
>
> Second, I support the elimination of property taxes altogether. For all
> property, not just homesteads. Replace the revenue with an increase in
> the sales tax and a normal sales tax on home sales. That way homeowners
> don't have to pay until they sell and their appreciation should make it
> easier. (I know this doesn't help people who bought in 04 or 05 right now,
> but it will in the long run. This would not only eliminate the
> unfairness, complexity, and limitless growth of property taxes, but would
> also elminate two elected officials and their entire departments for each
> county -- the Property Appraisor and the Tax Collector. Or at least scale
> them down dramatically.
>
> More importantly, I support a constitution limit on the growth of
> goverment spending to the increase in the CPI and the growth in
> population. Spending growth in excess of that should be put on the ballot
> with an explanation and debate of the need.
>
> Here are two petitions to amend the State Constitution to accomplish those
> two things.
>
> http://election.dos.state.fl.us/initiatives/fulltext/pdf/45505-11.pdf
>
> http://election.dos.state.fl.us/initiatives/fulltext/pdf/45505-8.pdf
>
> Have a look.
>
> PD
>
>
>

Flycoon · Joined: 03 Dec 2007 Posts: 16

Dano wrote:
> My theory why we have no state income tax is because most here don't work.

Just a philosophy in the state, I do many tax returns for folks over 70
who work. Most here work because they choose to eat, buy gas , and pay
rent/mortgage.

> It would be interesting to know what rate an income tax would need to be to
> offset the 6% state sales tax.

1-2% would get it done. Taxes MUST be spread through different programs
or the taxing body is screwed. See: Oregon. Schools closed during the
last recession.

And as most don't even realize Jeb Bush cut
> the "intangible tax" to zero.

I do, taxes are my business. This was a great gift to the wealthy and
businesses, what you would expect from a Bush.

I would believe that most don't know what the
> "intangible" tax was. I guess that burden went onto "new" home buyers too.

Probably. Especially those not eligible for homestead exemption.

A client of mine had a rather different idea on the homestead exemption;
tax EVERYONE on the first 25K and apply whatever the exemption is after
that. Makes sense, except to everyone except AARP members who want a
free ride.

J · Joined: 29 Sep 2007 Posts: 13

Dano wrote:
> My theory why we have no state income tax is because most here don't work.
> It would be interesting to know what rate an income tax would need to be to
> offset the 6% state sales tax. And as most don't even realize Jeb Bush cut
> the "intangible tax" to zero. I would believe that most don't know what the
> "intangible" tax was. I guess that burden went onto "new" home buyers too.
>

I must have missed that day in my 'Government' class. I didn't realize
the governor had the power to do that.
Seems kinda the same as criticizing/applauding the president for the
state of the federal budget.
And as a small businessman, the dropping of the intangible tax was a
help. There are many taxes/fees that, if eliminated, would help the
small business stay afloat. I don't mind the 'big guys' paying it as
they can afford to. 'Big Business' may try to steer the country, but the
small businesses are what keeps it running.

>
>
> "Flycoon" wrote in message
> $0%3.853@trnddc06...
>
>>Dano wrote:
>>
>>>Two Questions:
>>>
>>>Do you think the property tax situation is one factor hindering FL's
>>>economy?
>>>
>>>If yes, do you think making SOH a tax deferral vs tax savings would help
>>>situation?
>>>
>>>Tax deferral until a retitle happens.(sale, arms length change of
>>>ownership).
>>>
>>>Full disclosure: It is my belief that my prop taxes are 50-100% higher
>>>than neighbors because I moved in Jan of 2004 and wasn't re-assessed
>>>until Dec of 2005. Probably the peak of value. I've lived in Florida
>>>for 33 consecutive years and am trying to raise and hopefully grow a
>>>young family. I feel SOH is a burden to my family as well as an opposite
>>>effect on many people who frankly don't "need" my tax subsidy. I was
>>>wondering if changing Tax savings to Tax deferral was something people
>>>who are benefitting from SOH would see as a doable compromise.
>>>
>>>My first idea was start a Florida T(ax) Party. Encourage all those who
>>>are the losers in SOH to simply not send in the check. Imagine the chaos
>>>that would bring. It would almost certainly force a change in SOH as the
>>>state and counties would be deep in the red in short order.
>>>
>>>Thanks in advance for your opinions.
>>>
>>>
>>>
>>
>>The 3% cap on property tax has definitely pushed higher prop taxes on new
>>home buyers. Completely unfair, if the state needs more revenue all
>>taxpayers should share the burden. This has devastated small counties
>>with very few new homes, maybe it is time to get rid of the 3% limit on
>>prop taxes and look at dropping millage rates and instituting a
>>(AAAAAHHHHH!!!!!) state income tax.
>
>
>

Dano · Joined: 07 Aug 2007 Posts: 6

It is not totally clear to me from your post that you know precisely what
the "intangible" tax was. You are probably referring to the "tangible" tax.
Businesses pay a tax on tangible property that is not taxed otherwise. Like
a small ice cream shop that owns its property location would not pay
tangible tax on the property(that is subject to property tax) but the ice
cream cooler would be a tangible asset and be taxed as tangible property.

One example of intangible tax is. An equity account. The rate used to be
like .06% on everything above a 100K. Now this equity account was not an
IRA or 401K but just stock. Maybe Flycoon could correct me, I'm no expert
on the subject.

"J" wrote in message $kI4.381@trnddc05...
> Dano wrote:
>> My theory why we have no state income tax is because most here don't
>> work. It would be interesting to know what rate an income tax would need
>> to be to offset the 6% state sales tax. And as most don't even realize
>> Jeb Bush cut the "intangible tax" to zero. I would believe that most
>> don't know what the "intangible" tax was. I guess that burden went onto
>> "new" home buyers too.
>>
>
> I must have missed that day in my 'Government' class. I didn't realize
> the governor had the power to do that.
> Seems kinda the same as criticizing/applauding the president for the
> state of the federal budget.
> And as a small businessman, the dropping of the intangible tax was a
> help. There are many taxes/fees that, if eliminated, would help the small
> business stay afloat. I don't mind the 'big guys' paying it as they can
> afford to. 'Big Business' may try to steer the country, but the small
> businesses are what keeps it running.
>
>>
>>
>> "Flycoon" wrote in message
>> $0%3.853@trnddc06...
>>
>>>Dano wrote:
>>>
>>>>Two Questions:
>>>>
>>>>Do you think the property tax situation is one factor hindering FL's
>>>>economy?
>>>>
>>>>If yes, do you think making SOH a tax deferral vs tax savings would help
>>>>situation?
>>>>
>>>>Tax deferral until a retitle happens.(sale, arms length change of
>>>>ownership).
>>>>
>>>>Full disclosure: It is my belief that my prop taxes are 50-100% higher
>>>>than neighbors because I moved in Jan of 2004 and wasn't re-assessed
>>>>until Dec of 2005. Probably the peak of value. I've lived in Florida
>>>>for 33 consecutive years and am trying to raise and hopefully grow a
>>>>young family. I feel SOH is a burden to my family as well as an
>>>>opposite effect on many people who frankly don't "need" my tax subsidy.
>>>>I was wondering if changing Tax savings to Tax deferral was something
>>>>people who are benefitting from SOH would see as a doable compromise.
>>>>
>>>>My first idea was start a Florida T(ax) Party. Encourage all those who
>>>>are the losers in SOH to simply not send in the check. Imagine the
>>>>chaos that would bring. It would almost certainly force a change in SOH
>>>>as the state and counties would be deep in the red in short order.
>>>>
>>>>Thanks in advance for your opinions.
>>>>
>>>>
>>>>
>>>
>>>The 3% cap on property tax has definitely pushed higher prop taxes on new
>>>home buyers. Completely unfair, if the state needs more revenue all
>>>taxpayers should share the burden. This has devastated small counties
>>>with very few new homes, maybe it is time to get rid of the 3% limit on
>>>prop taxes and look at dropping millage rates and instituting a
>>>(AAAAAHHHHH!!!!!) state income tax.
>>
>>

Dano · Joined: 07 Aug 2007 Posts: 6

> Dano wrote:
>> My theory why we have no state income tax is because most here don't
>> work.
>
> Just a philosophy in the state, I do many tax returns for folks over 70
> who work. Most here work because they choose to eat, buy gas , and pay
> rent/mortgage.
>

Is there a state with a greater ratio of non-working retirees than FL?

Flycoon · Joined: 03 Dec 2007 Posts: 16

Dano wrote:
> It is not totally clear to me from your post that you know precisely what
> the "intangible" tax was. You are probably referring to the "tangible" tax.
> Businesses pay a tax on tangible property that is not taxed otherwise. Like
> a small ice cream shop that owns its property location would not pay
> tangible tax on the property(that is subject to property tax) but the ice
> cream cooler would be a tangible asset and be taxed as tangible property.
>
> One example of intangible tax is. An equity account. The rate used to be
> like .06% on everything above a 100K. Now this equity account was not an
> IRA or 401K but just stock. Maybe Flycoon could correct me, I'm no expert
> on the subject.
>

For married couples, the rate was .0005 with an exemption of $500k of
intangibles (250K for singles), then the first $60 you owe is exempt.
Retirement funds are exempt. It was phased out as of 1/1/95. Most one
of my clients ever paid was $1476 on a portfolio valued at 3,422,904.

>
>
> "J" wrote in message $kI4.381@trnddc05...
>> Dano wrote:
>>> My theory why we have no state income tax is because most here don't
>>> work. It would be interesting to know what rate an income tax would need
>>> to be to offset the 6% state sales tax. And as most don't even realize
>>> Jeb Bush cut the "intangible tax" to zero. I would believe that most
>>> don't know what the "intangible" tax was. I guess that burden went onto
>>> "new" home buyers too.
>>>
>> I must have missed that day in my 'Government' class. I didn't realize
>> the governor had the power to do that.
>> Seems kinda the same as criticizing/applauding the president for the
>> state of the federal budget.
>> And as a small businessman, the dropping of the intangible tax was a
>> help. There are many taxes/fees that, if eliminated, would help the small
>> business stay afloat. I don't mind the 'big guys' paying it as they can
>> afford to. 'Big Business' may try to steer the country, but the small
>> businesses are what keeps it running.
>>
>>>
>>> "Flycoon" wrote in message
>>> $0%3.853@trnddc06...
>>>
>>>> Dano wrote:
>>>>
>>>>> Two Questions:
>>>>>
>>>>> Do you think the property tax situation is one factor hindering FL's
>>>>> economy?
>>>>>
>>>>> If yes, do you think making SOH a tax deferral vs tax savings would help
>>>>> situation?
>>>>>
>>>>> Tax deferral until a retitle happens.(sale, arms length change of
>>>>> ownership).
>>>>>
>>>>> Full disclosure: It is my belief that my prop taxes are 50-100% higher
>>>>> than neighbors because I moved in Jan of 2004 and wasn't re-assessed
>>>>> until Dec of 2005. Probably the peak of value. I've lived in Florida
>>>>> for 33 consecutive years and am trying to raise and hopefully grow a
>>>>> young family. I feel SOH is a burden to my family as well as an
>>>>> opposite effect on many people who frankly don't "need" my tax subsidy.
>>>>> I was wondering if changing Tax savings to Tax deferral was something
>>>>> people who are benefitting from SOH would see as a doable compromise.
>>>>>
>>>>> My first idea was start a Florida T(ax) Party. Encourage all those who
>>>>> are the losers in SOH to simply not send in the check. Imagine the
>>>>> chaos that would bring. It would almost certainly force a change in SOH
>>>>> as the state and counties would be deep in the red in short order.
>>>>>
>>>>> Thanks in advance for your opinions.
>>>>>
>>>>>
>>>>>
>>>> The 3% cap on property tax has definitely pushed higher prop taxes on new
>>>> home buyers. Completely unfair, if the state needs more revenue all
>>>> taxpayers should share the burden. This has devastated small counties
>>>> with very few new homes, maybe it is time to get rid of the 3% limit on
>>>> prop taxes and look at dropping millage rates and instituting a
>>>> (AAAAAHHHHH!!!!!) state income tax.
>>>
>

Flycoon · Joined: 03 Dec 2007 Posts: 16

Dano wrote:
>> Dano wrote:
>>> My theory why we have no state income tax is because most here don't
>>> work.
>> Just a philosophy in the state, I do many tax returns for folks over 70
>> who work. Most here work because they choose to eat, buy gas , and pay
>> rent/mortgage.
>>
>
> Is there a state with a greater ratio of non-working retirees than FL?
>
>

I think AZ and AK are approaching us.

james · Joined: 06 Aug 2007 Posts: 29

On Mon, 18 Feb 2008 09:19:20 -0500, "Dano"
wrote:

|Do you think the property tax situation is one factor hindering FL's
|economy?
|
|--------------------

No. The main issue with Florida's economy is the state population has
grown faster than the infrastructure can grow. As long as there are
stupid people that buy housing at over inflated prices and borrow more
than they really can pay back, the economy is going to suffer. The
major thing that high taxes and insurance prices have done is slow
down growth which politicians couldn't seem to do.

|If yes, do you think making SOH a tax deferral vs tax savings would help
|situation?
|---------------

Any fiddling with the tax code only delays the inevitable. As more
"citizens" want less taxes at the federal and state level the burden
falls on local level.

Until the "citizens" stop wanting local, state and federal governement
doing everything for them, nothing will be a permanent help.

james

james · Joined: 06 Aug 2007 Posts: 29

On Mon, 18 Feb 2008 16:43:49 GMT, Flycoon
wrote:

|The 3% cap on property tax has definitely pushed higher prop taxes on
|new home buyers. Completely unfair, if the state needs more revenue all
|taxpayers should share the burden. This has devastated small counties
|with very few new homes, maybe it is time to get rid of the 3% limit on
|prop taxes and look at dropping millage rates and instituting a
|(AAAAAHHHHH!!!!!) state income tax.
|-----------------

The 3% cap ws instituted because of rising property taxes back in the
mid 90's.

james

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