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Welcome to the Fairhomes Land Investor Information website. Please read the information carefully before using this site. By continuing on this site you acknowledge that you have read and agreed to the following: Forward Looking Statements – Statements prepared by Fairhomes Land and made on the Fairhomes Land Investor Information website that are not historical facts are forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. For the purpose of establishing the Seller’s compliance with Federal Interstate Land Sale Full Disclosure Act 15 USC 1701 (“ILSA”) in the sale of lots to buyers, the enquirer confirms that they are a builder, investor or developer licensed to do business in the state of Florida and is engaged in a bona fide land sale business and is purchasing the property for the sole purpose of either constructing a residential home or selling the same in the normal course of its business. The enquirer further represents and warrants to the Seller that the enquirer is in the above referenced business sale of land sales and/or building residential homes and selling the same as an activity of continuity, regularity and permanency. The enquirer is a knowledgeable and sophisticated investor, developer or builder of real estate properties.
Tel: +1 (905) 415-9267 or +350 200 400 48

Florida property taxes to change

18th Jun, 2012back

21 In a bid to encourage more people to purchase properties in Florida, it has been announced that registered voters in the state will be asked to vote on a proposal which aims to change how property taxes are assessed in the region.

In addition to making it more attractive to purchase a property in Florida, the amendment to the state’s constitution will also look to eliminate what is known as the ‘Recapture Rule’, which has, in the past, allowed higher taxes to be collected on properties that have been shown to be losing market value.

The ‘Recapture Rule’ was first approved in the early 1990s by the Florida Cabinet but speaking about the move to address the issue, Senator Mike Fasano said: “Residents who have owned their homes for many years are penalized during downturns in the economy by property taxes that continue to rise, even as the value of their homes fall.”  He continued: “This tax burden hurts homeowners already hit by plummeting home values, rising insurance premiums, and the overall increases in the expense of owning and maintaining a house.”

It is also hoped that the amendment will help the real estate market, which has suffered something of a slump in recent years, by offering tax exemptions to people who are first-time buyers.  Anyone who has not owned a property in Florida during the past three years will qualify.  The amendment will also add to the current homestead exemption by giving people an additional 50% exemption on the appraised value of the property, with the exemption being phased out by 20% annually over five years.