Since COVID, the cost of housing in our area has gone through the roof.For homeowners, that includes insurance and taxes.
“I’m kind of stressed honestly, but if anything is going to save us money, I’m like ‘hallelujah!’” Indian River County resident Cassandra Neal told CBS12 News.“Today, where it is, it’s actually staggering, it really is," Indian River County Property Appraiser Wesley Davis opined, "and then you add on top of that what insurance rates are doing, and then add on top of that the ad valorem tax bill, and it makes it tough out there.
He says Amendment Five could lessen the financial burden on homeowners over time, adjusting homestead exemptions to keep pace with inflation. But, Davis admits, if the exemptions go up so much it hurts tax income significantly, lawmakers could just increase taxes to make up the difference.
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