Melbourne Area Blog

Last week it seemed as though the legislature had reached an agreement on a proposed amendment for property tax reform until the House added a bill which would give second home owners (non-homesteaded property) a 5% cap on property tax increases similar to Save Our Homes. This killed the amendment and now it is back to square one in negotiations.

This is an idea that should be looked at and discussed. Florida had a large budget shortfall this year which is blamed in part on declining revenues from property taxes. A big part of that issue stems from second home owners fleeing Florida to neighboring states with lower taxes. It is important, especially during the current slow down, that we should try to keep what revenue we can in the state.