We voted for it-now take advantage of it!
PROPERTY TAX PORTABILITY
Only three days remain: Friday is the deadline for homeowners to apply for a homestead exemption, and, for 2007 home buyers, the last day to apply for property tax portability – the right to take tax savings from a home protected by Florida’s Save Our Homes amendment and transfer it to a home purchased last year.
If you or someone you know moved from a homesteaded property in 2007, you can bring whatever tax savings you had through Save Our Homes with you to your new homesteaded property.
Here’s where to do it:
http://www.hcpafl.org/www/downloads/pdfs/dr501tn0308.pdf
Thanks for the reminder there are many who wanted this option and I am sure are surprised that last year got grandfathered in. I think we will see much movement in communities in real estate due to this tax law being passed for portability.
That’s right. Many don’t realize this is retro to purchases since 1/1/2007. I’ve had to remind clients to apply. Even with the portability of the benefits, I don’t see many wanting to make a move until they sense some stability in the market. Still many distressed sales to move through.