Clearwater Real Estate News on Property Taxes

Clearwater Florida - I just got back from a trip to Tallahassee where a group of 40 Pinellas County community leaders got to meet with our Governor Charlie Crist, Secretary of State Charles Bronson, Attorney General Bill McCollum and the next Chief Justice of the Florida Supreme Court, Justice Quince along with our Senate and House leaders.  We discussed efforts to make Clearwater  Real Estate more affordable by targeting property taxes and home insurance and Governor Crist updated us on whats in the works.

While we were there the Taxation and Budget Reform Commission (TBRC) that only meets every 20 years approved a Florida constitutional amendment proposal by a vote of 21 to 4 aimed at further lowering Floridas property taxes by @25%.

Thats great news for those who own property in Florida or those wanting to buy real real estate in Clearwater .

Clearwater Real Estate Property Tax Changes Will Benefits All Property Owners

The Florida Constitutional Amendment would:

• Remove local school taxes paid by real estate owners in favor of an increased sales tax (1% is proposed) and fewer tax exemptions for non-essential items.  
• The cut would apply to ALL real estate properties - not just homesteaded property. (Great news for investors and second home owners in Clearwater)
• Reduce the amount local governments can increase assessments on commercial, rental and second homes from 10% to the 5% we had all hoped for.
  

So how do they plan to make up the lost revenue? The amendment would authorize an increase in the sales tax of up to 1% and the repeal of sales tax exemptions determined not to advance or serve a public purpose.

Current exemptions would be maintained for the following::

• Food,
• Prescription drugs,
• Health services,
• Charitable and Religious institutions,
• Residential Rent,
• Electricity and
• Heating fuel

Under Floridas State Constitution, any new tax needs 66%, or 2/3s, approval - more than the 60 % is usually required for constitutional amendments. Now is the time for all Clearwater Florida property owners to stay vigilant - we are making progress and I think this will help those with Clearwater homes for sale or those looking to buy so please encourage everyone you know to get informed and vote in November.  

Read more about Amendment 1 and understanding Floridas Property Taxes:

We are still seeing lots of great deals on Clearwater Florida Real Estate for buyers.  See all homes for sale and  condos too -  search the Tampa Bay MLS .

Feel free to call us at (727) 422-8901 - were happy to answer  your questions or help you with all your real estate needs - buying or selling.

Cyndee and Jack Haydon, Clearwater Real Estate agents

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