Tax Portability and Tax Relief in Florida

You Are Free to Move Around the State!

Florida’s Amendment 1 Property Tax Bill passed as a result of Tuesday’s vote. Some people are happy, some think we can do better, but we will all see some savings. The big winners here are current homesteaded property owner- They will get to port their tax savings to a new home within Florida. Many homeowners were unable to move because of the huge jump they would take on their tax bill. With tax portability, that’s no longer a problem. Here’s a link with more details:
http://www.yeson1florida.com/amendment_1.php
It’s a great time to upsize. The market is down- that is a fact. In order for a home to sell, it will have to be priced low. Consider this: if the sale of your current home will bring you $40K less than if you waited, but the savings on the house you’re moving into is $100K, you’re still up $60K. Add to that the recent drop in interest rates, and you could save considerable money over the life of your home loan. The massive availability of homes for sale also makes it much safer to sell first. Once your house goes to contract, you can put an offer in on the new one right away because there are so many to choose from. If you’re unable to sell within a reasonable amount of time, you go back off the market. You have nothing to lose.
Send me a request for auto-email with the criteria that you’re curious about and/or to keep an eye on sales in your neighborhood.