Be sure to tune in this week on AM 1240 in SW Florida, and AM 1270 in Collier County, The Future of Real Estate presented by The Ellis Team at RE/MAX Realty Group in Fort Myers, Florida.  The show is also re-broadcast on our Radio Show page

 

This week’s topics include:

  • Property Tax Lawsuit Against Lee County Property Appraiser Ken Wilkinson
  • State Farm Insurance Possibly Staying or Leaving Florida
  • Hot Properties
  • 4 Amendments on Florida’s 2010 Ballot
  • Florida’s Recently Released Housing Statistics
  • Buying Opportunities in Real Estate Due to Market Conditions
  • Interest Rate Update

Listen in, and if there is something you’d like discussed, leave us a comment.

Lee County Property Appraiser Ken Wilikinson released preliminary taxable values today.  The Ellis Team was able to secure an advanced copy and has provided a breakdown of values by area.  This is a complicated formula as new construction is built into these numbers, as well as personal property.  The following chart will give you a pretty good estimate by area of the county of how the Property Appraiser’s office feels values fared last year.  You can compare these values with our 2008 State of the Market Report. (Pg 10)

Lee County Tax Roll Values-Estimate 2008
Lee County Total Taxable -12.36%
City of Cape Coral  -26.56%
City of Ft Myers  -2.54%
City of Sanibel  -5.23%
Town of Ft Myers Beach  -11.12%
City of Bonita Springs  -7.27%
Independent Fire District  
Alva Fire District  -9.90%
Bayshore Fire District  -4.88%
Boca Grande Fire District  .19%
Bonita Springs Fire District  -4.72%
Captive Fire District  2.14%
Estero Fire District  1.05%
Ft Myers Beach Fire District  -9.13%
Ft Myers Shores Fire District  -.74%
Iona McGregor Fire District  -4.05%
Lehigh Acres Fire District  -17.33%
Matlacha-Pine Island Fire District  -15.25%
North Ft Myers Fire District  -5.98%
San Carlos Fire District  -.38%
Sanibel Fire District  -3.99%
South Trail Fire District  -3.47%
Tice Fire District  -5.64%
Upper Captiva Fire District  -10.51%
By Independent District  
Alva Area Taxable  -14.60%
Bayshore Area Taxable  -12.32%
Boca Grande Area Taxable  .39%
Bonita Springs Area Taxable  -6.54%
Captiva Area Taxable  2.95%
Estero Area Taxable  -1.15% 
Ft Myers Beach Area Taxable   -10.21%
Ft Myers Shores Area Taxable   -2.92%
Iona McGregor Area Taxable  -7.78%
Lehigh Acres Area Taxable  -22.98%
Matlacha-Pine Island Area Taxable  -19.47%
North Ft Myers Area Taxable   -11.83%
San Carlos Area Taxable   -4.05%
Sanibel Area Taxable   -4.31%
South Trail Area Taxable  -6.93%
Tice Area Taxable -10.58%
Upper Captiva Area Taxable          -10.22%

Tune in to "The Futire of Real Estate" this Saturday at 11:00 AM on AM 1240 in Fort Myers and AM 1270 Naples and Marco Island as Ken Wilkinson, Lee County Property Appraiser will be our guest.  We’ll ask Ken about the latest taxable values as well as upcoming Ammendments on the ballot and what they mean to the taxpayers this upcoming election.

If you purchased a home in Florida in 2005, you’ll want to file for the Florida Homestead Exemption. Not only will you save approximately $400/yr in taxes, you’ll also cap the amount your taxes can go up each year. If you do not file, there is no cap.To be eligible you must have purchased the home by December 31, 2005 and use the home as your primamry residence. Lee County Florida has a Homestead Exemption Form you can download. Florida is very strict about the property being your primary residence, and they will prosecute you if you cheat. Lee County hires investigators who search for rental listings on the Internet, etc. They even invite the public to tell if they suspect a neighbor is cheating on the exemption, so you only want to fill out this form if you really qualify.

If you purchased in 2006, you’ll have to wait until next year to file. If you purchased prior to 2005 and have not filed yet, you still can. If you qulaify, it’s a wise decision to file. Do not wait as it can cost you much more than the $400/yr because you won’t get the cap.

Florida has two bills pending in the legislature regarding Homestead Exemption Portability. We’ll cover what these bills mean to you in a future post.