Imagine the surprise of over a million Florida residents who received their proposed 2008 real estate tax assessments expecting to see a tax decrease (based on the passage of the Amendment I) and finding out their taxable value has actually may have gone up by 3 percent. How is this possible you say, especially considering almost everyone’s market value has dropped in the last two years? Welcome to the world of the state’s “down-means-up recapture rule”.

The rule was adopted way back in 1995 by the state’s Department of Revenue with the full backing of then Governor Lawton Chiles. In fact, they even went to court when a group of county property appraisers challenged the rule prior to its being passed by the Florida Cabinet. Unfortunately, the administrative law judge hearing the case approved the rule calling it “an appropriate way to apply the Save our Homes Amendment when property values go down (try and figure this one out).

Tags: Florida, real estate, taxes

According to Money Magazine, Collier County in Southwest Florida ranks fourth on its list as one of the best places to live for having a long life. The magazine surveys various regions and identifies areas where residents have some of the longest life expectancies in the country.

Home to the City of Naples, Collier is the largest county (land wise) in the state. Fortunately for its residents, roughly 80% of it is devoted to nature preserves, state parks and recreation areas. In its survey results, Money stated “Collier County is the picture of Florida Leisure” and “almost any kind of water-related activity or exercise is readily available.”

Tags: Florida, living

Florida real estate sales continued to show strength throughout the state in July. In fact, for the first time in two years, statewide single family existing home sales increased year over year in July.

The numbers are quite amazing considering most of the national media pundits would have you believe the State’s housing market has fallen off a cliff. The reality is anything but gloom and doom. Savvy retirees, bargain hunters and international buyers are all recognizing that their opportunity to grab an affordable slice of the Florida lifestyle is happening right now.

Here’s a review of some of the numbers:

Tags: Florida, real estate, sales

According to their survey on the most expensive states for homeowners insurance costs, Forbes magazine ranks Florida number six in the country. The survey is based on the National Association of Insurance Commissioners most recent study of insurance premiums, drawn on 2005 data due to lags in state reporting procedures.

Multiple factors are used in the analysis, not necessarily just the threat of a single disaster. Hurricanes, tornados, and floods make the headlines, but hail and wind cause more damage on average. Building costs are another important consideration. Insurance typically pays out at replacement cost (the amount it would take in labor and materials to replace/rebuild the property) and the rising costs of such items are eventually reflected in the costs an insurance company must pay for repairs. Accordingly, states where Mother Nature is usually unkind tend to have the highest average annual insurance costs.

Tags: Florida, homeowner insurance

According to their annual loan closing costs survey, Bankrate.com had Florida ranked number three behind only New York and Texas for being a high loan closing cost state. The new ranking was the second year in a row Florida held the number three postion and is up from being ranked number 5 in 2006.

This year’s top ten states included:

• New York - $4,016
• Texas - $3,975
• Florida - $3,683
• Oklahoma - $3,558
• New Mexico - $3,047
• New Jersey: $3,432
• Pennsylvania: $3,411
• Alaska: $3,409
• Colorado: $3,358
• California: $3,321

The bottom five states included:

• North Carolina -$2,650
• Kansas - $2,669
• Missouri - $2,758
• Maine - $2,793

Tags: Florida, loan closing costs, mortgages

For those of you not yet aware, Amendment 5 will be appearing on the November 4th ballot here in Florida. The amendment will allow voters to decide whether or not they will decrease their real estate taxes (by as much as 25%) by replacing “state required school property taxes with other state revenues.”

Once again, Lee County Property Appraiser Ken Wilkinson (Father of Save Our Homes), helped the committee that developed the new amendment and they believe its passage will “remove the unfunded mandate of required local effort from the backs of Florida taxpayers.”

Tags: Florida, legislature, taxes

The deadlines for registering to vote in Florida are drawing nearer. Especially for the August 26th Florida primary elections. Residents intending to vote in that primary have only until Monday, July 28th to complete the voter registration process. Those who want to vote in the general election on November 4th have more time as that deadline isn’t until Monday October 6th.

And, if you have moved, you need to contact your Supervisor of Elections as both Federal and State laws require you to vote in your precinct of residence. If you simply moved within the same county, you may provide a signed, written notice, call or send an e-mail to your Supervisor of Elections. However, if you’ve moved to another Florida county, use the Florida Voter Registration Application to change your address. You can obtain a Florida Voter Registration Application online by visiting http://election.dos.state.fl.us/voter-registration.

Tags: Florida, living