There are 1 blog entries for May 2011.
Florida Real Estate: 2011 Legislative Update
Saturday, May 7th, 2011 at 3:02pm. 6,798 Views, 10 Comments.
The 2011 Florida legislative session ended late last night and the Florida real estate market scored some impressive victories as everything was said and done.
Here's a synopsis of some of the more important real estate changes:
Tax relief for non-homesteaded owners and first-time buyers - Voters in 2012 will get a chance to adopt HJR 381 which will reduce the yearly assessment cap on non-homestead property from 10% to 5%. It would also give anyone who hasn't had a homestead exemption in Florida for three years a property tax discount of 50% of the home's assessed value, not to exceed the median home price in that county. This…