Some Tax Relief

On Jan. 29 the voters of Highlands County will be deciding on an amendment to the Florida Constitution which, if passed, will result in some property tax relief.

Is it everything we need in tax reform? No! However it does provide much needed relief to Florida residents who are "stranded" in their homesteads, unable to move to either a larger or smaller home because they would lose the protection they have accrued over the years through the Save Our Homes exemption. Amendment 1 will, if approved, make Save Our Homes portable.

If the amendment passes, a young family will be able to take their lower tax rate with them when they outgrow their residence and purchase a larger home. A retired couple will be able to "downsize" without running the risk of doubling or tripling (or worse!) their current property tax bills.

We recognize that the amendment does not adequately address the gross inequity between the tax treatment of homesteaded and non-homesteaded property. Nor does it provide much relief to small business owners. Florida (especially Highlands county) desperately needs tax reform in those areas as well.

However, if the amendment is defeated (as the Tampa Tribune, Highlands Today and various local officials are recommending) simply because "it is not enough," the opponents of true tax reform will likely take the defeat as an endorsement by the voters of Florida to continue doing nothing!

Florida's real estate market has declined faster and farther than the rest of the nation. This is largely because tax millages remained the same as property values increased. Highlands County's economy, largely dependent on a healthy housing market, is suffering as a result. While this amendment does not fix the entire tax problem, it does free the owners of homesteaded property to re-enter the market.

We must continue to push our legislators, in particular the Florida Senate, to make comprehensive tax reform a priority. Meanwhile, Amendment 1 will address one unforeseen consequence of Save Our Homes. We strongly urge a Yes vote on Amendment 1!

Steve & Janine Fruit
Lake Placid