I found this article interesting and wanted to share with the BP Family who own investment properties in Florida. The Florida law defines a non-homestead property as a property not used as a primary residence, such as rental properties, second homes and commercial properties. The law has kept those property taxes artificially low, regardless of how much their true real estate value increased over the past 10 years. This could increase properties taxes by 2x to 4x current rates.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
8y
I can’t really see it as a big issue. The “non homestead” assessment increase cap is 10% Per Year. Very few property owners will have values that increased much more than 10%/year.