Amendment 5 and Tax Benefits: What It Means for Florida Property Owners. Sellers
This is great news for property owners in the State of Florida.
Amendment 5 was passed, giving sellers of Florida homestead property up to three years – an increase from two – to transfer accrued property tax benefits to a new home.
From Florida Realtors.org:
After passage of a Florida constitutional amendment this year on property taxes, Floridians now have three years – an increase from two years – to transfer (port) any accrued property tax benefits to a new home.
But it’s not usually a full three years, just as it wasn’t a full two years under the previous version of the law.
Sellers who plan to port tax assessment savings to a new home
How to Sell a Condo in Florida- Price your condo based on Availability
This is Part 12 in a series of Articles by Denise Stewart and Melissa Stewart.
Condos are unlike other properties because you can have several condos that are the same size in the same building sell for prices that could vary by over 100%.
Depending on the view, a condo facing the street may be worth less than one-half a condo facing the Ocean. A condo facing the golf course may be worth 75% more than a condo in the same building facing the parking lot.
Appraisers based value on "comps", which are what condos have previously sold for. But the bottom line is that supply and demand is what will influence your buyer more than anything. Just because a similar condo in your