Snowbirds on Florida TV

............to certain circumstances the law regulates the assesed value of homesteads and specified nonhomstead property in increases when the just value at the property decreases....."

This where Florida is bleeding from. They want to be able to tax ALL property owners for more than what the homes are worth/sold for today.

Homes that sold in 2007 for $320,000 and TAXED accordingly are being sold on the market today for many times under $100,000. That is a huge loss of property tax income for the local counties.

The millions of homes in foreclosure that are now being sold for 1/4 of their original price AND that would 'now' be taxed based on this low sales price, means each County will lose billions of dollars in tax revenue every year as these foreclosures are being sold for less than what they were tax appraised at prior to foreclosure. It's shear numbers, Florida has the most foreclosures in the states.

The Snowbirds are not going to raise Florida real estate taxes, their LOCAL COUNTY is, by being allowed to raise property taxes above what their homes are worth to make up for the deficit of foreclosed homes being sold so cheap.

If this passes, Yes the second home buyer would be afforded the homestead deduction but he will 'also' be confronted with paying real estate taxes based on whatever accelerated millage rate they decide on, not the actual value of the property just like every single resident will have to.

If this passes even the lure of low priced foreclosed homes will not be enough for someone to buy a second home here. Not if the Counties are going to be allowed to create real estate taxes based on what dollars they 'need' and no longer based on what the value of the home is.