FLORIDA PROPERTY TAXES
The Florida Senate’s property tax plan, unveiled last Thursday, is generating mixed reactions. Proponents of lower taxes say it doesn’t go far enough, while local governments and business interests generally prefer it. It’s clear that there’s one tax change no one is considering, however: the creation of a state income tax.

FLORIDA PROPERTY TAXES
The Senate unveiled its long-awaited bipartisan property tax reform package yesterday, and it differs significantly from the House’s plan. The Senate proposal includes a tax rate rollback, a cap on future local government revenue increases, a limited version of property tax portability and a special exemption for first-time homebuyers but no sales tax increase. Both chambers have included Crist’s proposal for a $25,000 exemption on tangible taxes paid by businesses.

FLORIDA PROPERTY INSURANCE
Citing large losses and outsized exposure in Florida, USAA will limit its new homeowners insurance business to active duty military homebuyers. The insurer says it will renew existing policies in the state, but only one property per policyholder.

INTERESTING THOUGHTS
Eighty-four percent of U.S. residents say home values will hold steady or increase, despite trends to the contrary, according to a Los Angeles Times/Bloomberg poll. Nearly a third of those surveyed this month predicted home values in their localities would rise in the next six months.

HURRICANE INSPECTIONS
Florida’s CFO Alex Sink announced yesterday that the state’s free hurricane home inspection program would resume within two weeks. Sink also announced the names of companies in the state, by area, that won a competitive bid process to conduct the local inspections.

FLORIDA PROPERTY TAXES
As the Florida Legislature grapples with ways to overhaul taxes, special taxing districts and boards also face reform. Statewide, these districts have increased tax collections 110 percent from 2001 to 2006, far more than cities, counties and school boards, according to a study ordered by Gov. Charlie Crist.

FLORIDA PROPERTY TAXES
Gov. Crist yesterday signed HB 333, which gives counties the ability to create an additional homestead exemption for low-income seniors. Calling it the point of the spear in his fight against high property taxes, Crist also suggested that the current session could be extended or a special session called later if legislators don’t drop taxes like a rock before the session’s scheduled conclusion on May 4.

CITIZENS PROPERTY INSURANCE
SB 2498, which would allow Citizens Property Insurance Corp. to expand further and solidify its tax-exempt status, moved forward Monday, gaining approval from the Senate Banking and Insurance Committee. The bill allows homeowners to opt for coverage from Citizens, the state-run insurer, if they have an offer from a private insurer that’s 15 percent higher.