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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (34802)	7/2/2005 9:07:59 PM
From: schzammm	Read Replies (1) \| Respond to of 306849

myflorida.com

To: jrhana who wrote (34802)	7/3/2005 6:38:05 AM
From: MoneyPenny	Read Replies (2) \| Respond to of 306849

This cap is only available to homesteaded properties. In order to homestead, an owner must declare Florida his primary residence and live 6 months and one day here per year. Many of my clients have homesteaded their winter home here and are very careful to document their time here. This plus the protection of the homestead in bankruptcy have been powerful selling points in Florida. In any neighborhood, you will have a huge range of r.e. taxes being paid on homes with the same comparable value. Realtors advertise homes with the current owners taxes listed. Many people do not explore beyond this. Real estate taxes estimate at about 2% of assessed value per year. This can be a shocker when the taxes are stepped up to the new basis, say from 300k to 800k. MP