April 13, 2024
New law would give new homebuyers better idea what their property taxes will be

Florida Trend Real Estate

New law would give new homebuyers better idea what their property taxes will be

| 2/26/2024

New law would give new homebuyers better idea what their property taxes will be

Brevard County Property Appraiser Dana Blickley says it's the biggest complaint she and other appraisers in Florida receive: New homeowners get sticker shock when they get their tax bills, and find out their property taxes are much higher than the tax paid by the previous owner. That's because of "Save Our Homes," which caps how much a Florida homestead's assessed value can increase each year to the lesser of 3% or the rate of inflation. [Source: Florida Today]

See also:
» Will Florida property tax be eliminated?

Column: Governments should lighten up on zoning for affordable manufactured homes

Manufactured homes are about half the cost per square foot as conventional single-family housing, per Census Bureau data. Zoning boards in Florida and beyond create artificial barriers for access to more manufactured housing that Harvard’s Joint Center for Housing Studies recently documented. While useful and largely supportive of modern manufactured homes vs. the old trailer houses and mobile homes from the 1940s-1960s, Harvard’s JCHS researchers missed some key facts. [Source: Lakeland Ledger]

Amendment could allow Chinese nationals to buy Florida real estate again

A Senate committee quietly approved an amendment that could reverse a controversial ban on Chinese land ownership in Florida. Sen. Clay Yarborough, a Jacksonville Republican, offered a substitute amendment in the Senate Rules Committee that chiefly related to property rights on easements. The new language includes significant changes to a law signed last year that inhibits Chinese nationals from owning Florida property. [Source: Florida Politics]

Increased homeowners insurance competition in Florida may help stabilize market

The state of Florida has seen seven new companies enter the market when it comes to homeowners insurance this year. The Insurance Information Institute says this comes at a time when the state average for homeowners insurance is $6,000, over three times the national average of $1,700. [Source: Spectrum News]

'Very much needed:' Florida may prioritize seniors for My Safe Florida Home program

Lawmakers are taking a close look at how to re-fund the popular My Safe Florida Home program that provides grant money to homeowners to make hurricane safety improvements to their property, which often, in turn, lowers their insurance premiums. The My Safe Florida Home program became so popular, it ran out of money. As people continue to wait to see if their applications will be approved some Florida lawmakers now want seniors and low income homeowners to get priority. More from WPTV and the Tampa Bay Times.

STAT OF THE WEEK
3,870
A large swath of the Sunshine State has hit the market. An hour’s drive from Tallahassee, this 3,870-acre expanse of Florida is looking for a new owner to lord over its vast terrain. [Source: New York Post]

ALSO TRENDING:

› How are home prices influencing South Florida buyers? More are coming back
More people are buying homes in South Florida despite rising prices. Home prices are now 1% to nearly 16% higher today than they were in January 2023 in Miami-Dade and Broward counties, according to the latest monthly home sales report from the Miami Association of Realtors. In Miami-Dade, median sales prices hover around $630,000 for houses, up from $545,000, and $405,700 for condos, up from $400,000.

› Developer proposes nearly 1,900 homes on former Haines City golf course
A Lakeland developer who bought the former Grenelefe Golf and Tennis Club in Haines City wants to build new homes and apartments on the former resort and golf course, according to a report in GrowthSpotter. The resort in northeast Polk County sprawls across 1,273 acres and once had three thriving golf courses, 22 tennis courts, a convention center, three restaurants, four swimming pools, a planned marina on Lake Marion and 417 resort-owned rental condominiums.

› Are real estate investors pushing out St. Petersburg’s Black residents?
Analysis has found that large companies have bought hundreds of properties in the South St. Petersburg Community Redevelopment Area, a 7.4-square-mile district where the city provides resources to encourage economic development. These companies buy homes everywhere in the Tampa Bay area but their purchases are especially clustered in the district’s historically Black neighborhoods, including Campbell Park, Jordan Park, Bartlett Park, Melrose Mercy, The Deuces and Childs Park.

› Tampa Bay area renters struggle to buy home in current market
The Tampa Bay area is a slice of paradise. So many people want to put down roots and have a place to call their own. At the same time, people who live in the Tampa Bay area community say they just cannot afford to buy a house right now. “It’s been really difficult in every sense of the word,” said Stela Bermema. Bermema lives with her husband in Pinellas County. They are searching for a house and a condo for her parents.

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She was priced out of St. Augustine. Now, this mother is finally getting a home of her own with the help of a nonprofit
She was priced out of St. Augustine. Now, this mother is finally getting a home of her own with the help of a nonprofit

Housing affordability is something that’s on everyone’s mind. New research shows that home prices have increased two times faster than inflation since 2013. It’s a big reason why many Americans can’t afford a home in 2024.

 

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