Owners who live full-time in Florida can take advantage of a 3 percent limit on annual property tax increases as long as they keep the same home. It is not available to snowbirds or absentee owners.
In an attempt to end inequities in the current tax system, legislators are considering a range of options during their current session. Among them: increasing sales taxes and reducing or possibly abolishing property taxes altogether; and offering tax breaks for first-time homebuyers, Floridians who want to move, snowbirds and small-business owners.
But as legislators debate these issues, local residents — landlords, renters, homeowners — worry about the future at a time when living in South Florida has become more costly because of rising hurricane insurance premiums, taxes and other costs.
For more information on this and other real estate matters, your first source for Palm Beach real estate should be licensed agent and long-time resident Caesar Parisi.
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