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The Implementation of Amendment 1

February 17th, 2008 · 1 Comment

Now that Amendment 1 passed, the Legislature will be implementing the amendment’s provisions. At this point, there is a bill filed in the Florida Senate which would require all non-homestead owners to file an application with the Property Appraiser each year in order to be entitled to the 10% cap on increases in assessment.

Also, 2008 will be the base year for such capped increases, so property owners should pay careful attention to their 2008 assessments. The 2008 working assessments will be online in most counties. The best time to negotiate changes in the 2008 assessment is supposedly from March through May.

 

Tags: Real Estate Tips

1 response so far ↓

  • 1 The Upfront Mortgage Broker // Feb 19, 2008 at 1:24 am

    Hojin,

    Your readers will benefit from your tip about paying attention to their assessments but they also need to be aware that if they are going to take advantage of the portability, they need to fill out and return a form, Form 501T, to the appraisers office by March 1st of this year. They will need to do this if they sold and bought a home anytime during 2007.

    Here s the link to the 501T form, http://dor.myflorida.com/dor/property/dr501t.pdf

    I hope this helps your readers.

    Respectfully,
    The Upfront Mortgage Broker
    Joe Bartolotta