There has been lots of talk from Tallahassee about the need for real estate tax reform in Florida. As real estate values have doubled in Broward County, so have real estate tax bills. The lucky ones are people who have homestead exemption from years ago, capping how much taxes can increase. New buyers, 2nd home owners and those without homestead, or who have homestead but can't downsize without losing the homestead savings are burdened with taxes most find unaffordable.
I welcome your comments about the real estate tax crisis and how it impacts you.
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One of the biggest problems I see as a Realtor are owners of properties who have Homestead Exemption that results in a low tax bill. Many people want to downsize as they move toward retirement, but find that they can't, because the real estate taxes would dramatically increase on a property valued much less. This forces people to stay in houses they don't need, or move out of the state all together.
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