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The Public Policy team of the Florida Association of Realtors has been hard at work in Tallahassee to protect the business of Realtors.\u00a0 This in turn helps all homeowners.\u00a0 These are\u00a0a few\u00a0of the highlights of the recent session:<\/p>\n
1.) $30.1 million for down payment assistance for those who qualify for the federal first time homebuyers tax credit.\u00a0 Beginning July 1, these first time homebuyers will be able to apply for down payment assistance in advance of closing and then repay the amount borrowed when they get their tax refund.\u00a0 Remember that first time homebuyers may qualify for an $8000.00 tax credit depending on the home they purchase and their qualifications.<\/p>\n
This is a wonderful opportunity for many and the state will be paid back.\u00a0 Conceivably, more potential homebuyers could take advantage of the down payment assistance prior to the December 1 expiration date.<\/p>\n
2.) A reduction in the eviction filing fee from $265 to $180.<\/p>\n
3.) SJR 532, a constitutional amendment that will go before voters in 2010 to limit increases in property tax assessments on all non-homestead properties to 5 percent annually.\u00a0 First-time homebuyers will benefit, too, with an additional homestead exemption up to $100,000<\/p>\n
4.) In the area of property insurance, the Legislature capped rate increases at 10 percent per year for Citizens policyholders.\u00a0 The Legislature also repealed the requirement that, effective January 1, 2010, sellers of property located in a wind-borne debris region, and which has an insured value on a structure of $500,000 or more, provide prospective buyers the structure’s windstorm mitigation rating.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Public Policy team of the Florida Association of Realtors has been hard at work in Tallahassee to protect the business of Realtors.\u00a0 This in turn helps all homeowners.\u00a0 These are\u00a0a few\u00a0of the highlights of the recent session: 1.) $30.1 million for down payment assistance for those who qualify for the federal first time homebuyers<\/p>\n