The Real Deal Miami

Brokers: New property tax laws overlook first-time buyers

April 07, 2008 10:09AM

Florida real estate agents have criticized the state’s new property tax policy for overlooking its effect on first-time buyers. In addition to the increase in homestead exemption from $25,000 to an estimated $40,000, the plan includes a “portability” measure, which allows the transfer of tax savings between properties. This latter component, while more lucrative, only aids those who have previously owned.