Florida Trend Exclusive
Sun, sand & sold
Private islands are the fodder of American dreams, as well as status indicators that drive the rich and the wealthy to claim their own piece of paradise. Often, they find their pick in Florida, where the private island market is as active — and as exclusive — as it gets. Florida’s total number of private island sales is tough to track because many happen off-market. But the state’s island market is booming alongside its population. [Source: Florida Trend]
Business Beat - Week of May 9th
Get top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
Amid Florida property tax debate, city and county budgets have ballooned
Florida county budgets have ballooned since 2020, fueled partly by rising property tax collections that have pumped billions more dollars into municipal accounts. But residents’ property tax bills, while likely bigger than in 2020, have not faced the same explosive growth. They are protected by homestead exemptions and the Save Our Homes law that holds down property assessment increases for a homeowner’s primary residence to no more than 3% a year and therefore limits tax bill hikes. [Source: Orlando Sentinel]
How did 2024 hurricanes affect insurance rates in Florida?
It’s a cliffhanger from last year’s busy hurricane season: Would three hurricanes making Florida landfalls drive up windstorm rates for the homeowner insurance bills on the horizon? Now, it looks like good news for Florida homeowners six months since insurance companies started digesting the results of hundreds of thousands of residential insurance claims resulting from the 2024 hurricanes Debby, Helene and Milton. [Source: Palm Beach Post]
South Florida farmers blame tariffs, immigration crackdown for business losses, wasted crops
With tariff talks top of mind, South Florida farmers say they’re in trouble. Crops are rotting on the vine and they’re blaming the ongoing trade wars and immigration changes. Heather Moehling, President, Miami-Dade County Farm Bureau: “You can’t even afford to pick them right now. Between the cost of the labor and the inputs that goes in, it’s more cost-effective for the farmers to just plow them right now.” [Source: WSVN]
ALSO AROUND FLORIDA:
› Judge balks at Silver Airways buyout offer, worries creditors will be left behind
When Silver Airways lawyers and executives entered the court of U.S. Bankruptcy Judge Peter Russin this week, they felt they finally had a clear path to wrapping up the struggling carrier’s Chapter 11 reorganization case, as well as the one involving its Caribbean affiliate, Seaborne Airlines. They had a signed $5.75 million “stalking horse” bid with a firm with a long history of investing in troubled airlines. They also informed the judge that another buyer had signed a letter of intent to acquire Seaborne for $4 million. But during a Wednesday hearing in U.S. Banktruptcy Court in Fort Lauderdale, the judge hoisted a stop sign.
› Mount Dora study IDs likely source of pungent mystery smell
The source of a mystery stench that has plagued Mount Dora residents and visitors for years may finally have been identified by consultants for the city and Lake County. Now the question is what to do about it. According to the consultants’ 83-page report, funded by a combined $270,000 from the two local governments, the Mid Florida Materials Mount Dora landfill on State Road 46 is likely generating the hydrogen sulfide gas that gives off the pungent odor.
› Former FIS exec working to build Jacksonville's fintech status
Already a key industry in Jacksonville, Annie DeStefano envisions Jacksonville as a global leader in financial technology. After a 12-year career in banking and finance, she started fintech consulting company Ann DeStefano Advisory as proof of her faith in Jacksonville. Jacksonville in recent years has doubled down on efforts to elevate itself as a hub for financial services.
› Manatee County set for vacation rental regulation vote in June, but officials are split
Manatee County will decide on new regulation of short-term vacation rentals in unincorporated Manatee County next month, but the vote could be split. The county commissioners started the process on Jan. 28, when they asked staff to work toward plans to regulate short-term vacation rentals. The staff presented an update on those efforts during this week's meeting shortly before commissioners voted to direct that a proposed ordinance be presented for approval in June.
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› Here’s why Hillsborough residents are mistaking tax refunds for spam
Four years after the state Supreme Court struck down a 1-cent transportation sales tax, some Hillsborough County residents are getting refunds in the mail. But not everyone who participated is happy with the refund program. Those who claimed the tax refund by December were told they could receive $100 if they lived in Hillsborough County between January 2019 and March 2021. Others opted out, deciding the refund offer looked “fishy.”
› Estero-based rental car giant Hertz faces class-action lawsuits over data breach
Hertz has been hit with class-action lawsuits over a data breach that exposed its customers' personal information to cybercriminals. Federal suits have been filed in multiple states, including Florida and Illinois. The cases would have to be qualified and certified as class actions to proceed that way. Often, such cases get combined.
› Is the future of pediatric care in South Florida a giant children’s hospital?
Children in South Florida are being taken across county lines or flown to other states for specialized medical care they can’t get close to home. A plan to consolidate medical pediatric treatment in South Florida, though, could result in the creation of a giant children’s hospital system providing specialized care currently available only in other states. Still, the idea has caused some friction among doctors.
› Ocoee Centennial: City celebrates 100 years with ‘birthday party,’ time capsule
Ocoee Mayor Rusty Johnson, who has lived in the city for 70 years, has always considered the West Orange County community as a “great place to live.” The longtime Central Floridian has watched the city grow from around 12,000 people when he started his tenure as mayor to around 51,000 now. Johnson will join the growing community in celebrating Ocoee’s centennial with a big birthday party at Bill Breeze Park this weekend and a time capsule celebration next week.