Friday, March 31, 2006

Capping Taxes

On the front page of today's Tampa Tribune is an article on the tax caps, featuring an interview with Seminole Heights resident Mike Ferlita.

Tax Value Would Move With You

Published: Mar 31, 2006
TALLAHASSEE - State lawmakers today are scheduled to consider an added break for homeowners: Let them carry the tax value of one home to another home, even if the new one is more expensive. . . .

Here are some quotes:

"Tampa resident Michael Ferlita can't wait to hear them.

Ferlita bought a home on Chelsea Street East 5 1/2 years ago for $63,000, and now he feels stuck - even though it has gone up in value to about $235,000.

"I can't afford to move," Ferlita said. "The actual tax increase would make my payment out of range. It would go from $600 to about $5,000" even for a slightly larger home in the same neighborhood."

"Ferlita, a Realtor, has watched real estate assessments soar and wondered, "What are the governments doing with all these windfalls? I can't imagine that the cost of government has gone up that drastically.""

1 comment:

Shawn-non-anonymous said...

I think this is a terrible idea.

Without a state income tax, Florida can't afford to defer taxes like this just because housing values have gone up.

I pay nearly $300/mo in insurance premiums--about the same as my taxes. That's where I'd start first--insurance. It doesn't affect state coffers and can have a large impact on what I can afford.