Sunday, August 16, 2009

Residential taxes going up in area

Some homeowners in for unpleasant surprise

Already hit by the biggest drop in property values in the state's history, many full-time residents will get another dose of bad news this week: Their property tax bills are actually going up, some significantly.

...the implosion of the housing market and the lingering recession have meant sagging revenues for local governments, many of which have responded by raising property taxes.

That, combined with an exemption designed to ease the burden on full-time residents, is turning Florida's much-criticized tax system on its head, with much of the load shifting back to those year-round residents.

The shift will become apparent this week as tax bills for 647,000 parcels in Sarasota, Manatee and Charlotte counties begin arriving in the mail. More...

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