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Appeals Court Upholds Florida's Save Our Homes AmendmentAn appeals court has ruled that the Save Our Homes amendment that caps tax assessments on homesteaded property is constitutional. The First District Court of Appeal upheld a lower court ruling Wednesday that rejected a challenge by an Alabama couple who own a second home in the Florida Panhandle and claimed the provision was discriminatory. miamiherald.com • 7.10.09 @10:10AM |
The background was that if you're a FL homeowner who had property from before the boom, it was originally appraised at $100-250k, but during the boom, many of these were going for $750k . And since the property taxes would be assessed based on the initial appraisal value and a capped growth rate (that was far below the actual growth rate), moving meant your taxes would go from being paid on $250k to $750k when you bought a new place. No one wants to do this, so the amendment allowed you to actually take your property tax appraisal with you when you moved to a new home. This meant you could buy a $750k house and keep your old appraisal of $250k. But since only FL residents benefited under this amendment, a whole slew of issues for equal protection and privileges/immunities emerged. 7.10.09 @10:11AM