In a past column, I expressed my thoughts on how the drastic increase in real estate taxes was going to cause great harm to our economy and the real estate market in general. It has already started!
Now, believe this - a politician more specifically. Miami Beach Commissioner Jerry Libbin has put forth a proposal for his city, that although not a cure all is a step in the right direction. Under Commissioner Libbin's proposal the new tax bill will rise only 25 percent of the total increase calculated. Nothing was mentioned as to the remaining 75 percent of the bill, but I do have an idea!
On average, a homeowner moves approximately every seven years. Follow me on this. We have a 75 percent balance due, so let's divide the 75 percent by seven years for an increase of 10.5 percent per year. Now add the 3 percent Save Our Homes rate and you have a 13.5 percent tax increase over the seven years. That is a hell of a lot more than 40 - 50, even 60 percent increase in one year.
As I said before, this is a hot issue and will be debated in Tallahassee during the upcoming session; however resistance to this idea is already growing. Imagine this statement attributed to the City Manager of Miami Beach. "He's worried that the tax break would negatively affect the city's budget."
The idiot politicians of these cities and counties statewide are SPENDING THE MONEY before they get it!
I always thought it was TAX and SPEND. Now it's SPEND and TAX!
Don't say I didn't warn you.
Rick Cornelius is the Broker/Manager of Sand Key Realty Sales and Rentals, Inc. Sand Key Realty has three offices with 40 agents. One office is at 740 S. Gulfview Blvd., Clearwater Beach, 727-443-0032; the second office is at 2701 Gulf Blvd., Indian Rocks Beach, 727-595-5441; and the third office is at 309 Belleview Blvd., Belleair, 727-461-4200.