• Report: #362382

Complaint Review: Florida Legislature

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Wed, August 13, 2008
  • Updated: Wed, August 13, 2008

  • Reported By:pompano beach Florida
Florida Legislature
House And Senate Tallahassee, Florida U.S.A.

Florida Legislature Recapture provision of Save Our Homes initiative Tallahassee Florida

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

Floridians are getting taken advantage of regarding this buried, unexpected "save our home" recapture provision.

Specifically,
a "recapture" provision may cause your taxable value to rise on a homesteaded property even if your market value dropped from last year. If you have homestead and your "Save Our Homes" (SOH) value is less than the just (market) value, state law requires that your overall assessed value increase each year by the 3% annual cap level until it eventually reaches the same amount as the market value.

This provision is buried in the Save Our Homes initiative. This was not an expected result of passing this.

Floridians would NOT have passed this provision had they understood it!

Here's my real life example I found via my recent TRIM notice....

a) market value decreased $30k
b) I'm now getting 2 additional homestead exemptions (i.e., additional $50k exemptions) for a total $75k (a $50k increase in exemptions for :senior and save our home on top of the standard $25k)
c) With all this, assesed value STILL INCREASED BY 3%. THE TAXABLE BASIS OF MY HOME IS HIGHER THAN LAST!!!.

RESULT: TAXABLE BASE INCREASED EVEN WITH ALL THESE REDUCTIONS!

My home's taxable (assessed) value should not go up when its value decrease and exemptions increase!

This needs to be corrected!

Jwinters
pompano beach, Florida
U.S.A.

This report was posted on Ripoff Report on 08/13/2008 09:12 AM and is a permanent record located here: http://www.ripoffreport.com/r/Florida-Legislature/Tallahassee-Florida/Florida-Legislature-Recapture-provision-of-Save-Our-Homes-initiative-Tallahassee-Florida-362382. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Florida Legislature

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory