Florida Real Estate Tax Reform - The Battle Begins

Now that a little time went by since the Florida Legislature passed its real estate tax reform bill (June 2007), and proposed their idea for the constitutional amendment for residents, the battle lines are being drawn for getting the amendment approved in January, 2008. A recent press release shows the Florida Association of Realtors pledged $1M in advocating for the constitutional amendment and that sent a ripple effect between the Realtor® community and the general public - who is as confused as ever. You might expect that ANY tax reform causes everyone to immediately jump on the bandwagon.  However, upon further reflection, opinions are rapidly changing. Depending on who's side you're on with this issue, there is limited time to effect an impact with the Florida voters. (One portion of the bill required county governments to automatically lower some taxes to Floridians through budget cuts - the constitutional amendment is an entirely different matter. It deals with the new super exemption versus the original save our homes now in existence.)

A recent Quinnipiac University poll shows the public's confusion. While 57% of respondents said they would favor the amendment, a whopping 67% said they need more information and that the amendment needs to be better explained for them to make a legitimate decision. The real impact was said to be on local communities who already are adjusting their budgets to meet the revenue cutbacks put into effect. While most cried foul when the law was passed, the threatened service cuts haven't yet materialized as was originally predicted. But, it's only less than 30 days later. And, to make matters worse, the poll showed 68% of respondents said their city budget problems would not affect how they would vote on the amendment.

Grassroots efforts on both sides are gearing up for the battle. A group called "Not Good Enough" and some of the Government Employee unions oppose the bill while the "Floridians for Property Tax Reform" back its passage. Business groups have yet to way in and the "Save or Homes" initiative is still being pursued as a viable alternative. And, of course, you can't forget about the legal system being involved. The Florida State Supreme Court recently transferred a proposal over whether the property tax initiative can go on the January ballot to the Circuit Court in Leon County for immediate disposition. The court moved on the issue in response to a suit filed by Eric Hersh, mayor of Weston in Broward County who is trying to stop the amendment from going on the ballot.

And so it goes with Florida's property tax reform. The best thing residents can do is ignore the headlines and get educated on the issues and their impacts. Opportunities like this don't come often. We urge all Floridians to get the facts and choose wisely. 

• Save Our Homes Petition
• NotGoodEnough.org
• Floridians for Property Tax Reform

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