If you own a home in Broward County Florida, you'll be happy to know that county commissioners are currently working on a plan to reduce your real estate taxes by as much as 25%. According to the commission, the average homeowner would save $186 on a $325,000 house with a homestead exemption.
Over 50 angry residents attended the commission meeting on Tuesday, September 12 to protest what many feel are skyrocketing property taxes, prompting commissioner Ilene Lieberman to push the commission to make even more reductions when the commission meets again on Monday.
As a South Florida real estate company, we hear it all the time that one of the biggest roadblocks preventing people from buying or selling a home in Broward County is the increase in property taxes they will pay based on the double-digit increases in property values throughout the county over the last several years. Even as the market has cooled, taxes and insurance continue to remain sky high, pricing many out of the market.
At some point, major reform is needed to keep property taxes in check, in Broward County and throughout the country. Homeowners who move from one home to another shouldn't be penalized with massive increases when there isn't much difference in price between their old and new homes.
If you own a home or condo in Broward County, you are encouraged to attend the next commission meeting on Monday, September 18.
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