Florida homeowner tax bill

[atthebeachclub]

Has anyone looked into this proposed Florida homeowner tax exemption bill they’re floating? Any idea what effect it may have on DVC dues? I haven’t looked at it at all yet; kind of curious what exactly the end goal is for the state and who they want paying for needed services.

I assume timeshare owners don’t qualify for any exemption here, so DVC owners may have higher future dues since local homeowners wouldn’t be taxed on their homes?

 

[Maistre Gracey]

Has anyone looked into this proposed Florida homeowner tax exemption bill they’re floating? Any idea what effect it may have on DVC dues? I haven’t looked at it at all yet; kind of curious what exactly the end goal is for the state and who they want paying for needed services.

I assume timeshare owners don’t qualify for any exemption here, so DVC owners may have higher future dues since local homeowners wouldn’t be taxed on their homes?

I have not given it serious study, but I believe the exemption would only apply to residents that have homestead exemption. That does not include timeshares.

More to your question of will they jack-up other taxes on tourists, that I don’t know. I suppose it’s possible, but my personal thoughts are it will not impact other taxes… sales, or otherwise.

Who knows if it will even pass..??

 

[J-Dog]

I have not given it serious study, but I believe the exemption would only apply to residents that have homestead exemption. That does not include timeshares.

More to your question of will they jack-up other taxes on tourists, that I don’t know. I suppose it’s possible, but my personal thoughts are it will not impact other taxes… sales, or otherwise.

Who knows if it will even pass..??

Yes. This is correct. Any FL property tax relief bills currently being looked at would require homestead exemption.

The "end goal" for the state is clearly to try to ease tax burden on residents. I'm doubtful that will result in higher non-homestead property tax, but who knows at this point?

 

[walt34]

I'm doubtful that will result in higher non-homestead property tax,

How do you expect the gap to be closed?

 

[J-Dog]

How do you expect the gap to be closed?

How do I expect the gap to be closed? Thankfully, I'm not in politics, so I have no idea. But as far as I know, no bills to increase non-homestead apprasial value ratios have been introduced.

Even if they did increase non-homestead property taxes, I can see how timeshare owners and second-home owners would be upset (and I am a DVC owner), but I don't necessarily think it would be unfair. Hawaii is not shy about charging multiple taxes to tourists that residents don't pay, so why not Florida?

 

[walt34]

How do I expect the gap to be closed? Thankfully, I'm not in politics, so I have no idea. But as far as I know, no bills to increase non-homestead apprasial value ratios have been introduced.

I was merely wondering as you said you were doubtful it would result in higher non-homestead property tax. As I understand it, property tax is a large part of overall tax revenue in FL.

Even if they did increase non-homestead property taxes, I can see how timeshare owners and second-home owners would be upset (and I am a DVC owner), but I don't necessarily think it would be unfair. Hawaii is not shy about charging multiple taxes to tourists that residents don't pay, so why not Florida?

As far as I understand, timeshare owners are already usually paying more in property taxes (as yearly rises are limited for homestead-owners) and some taxes like School Board tax are only benefiting residents. But I wouldn't be surprised at all if property taxes for timeshare owners rise or new taxes are introduced if this bill passes.