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No matter where you live, state taxes are a part of life. States use the taxes collected from homeowners to pay for vital community infrastructure. In Florida, the state collects approximately $36 billion per year in general tax revenue, which is used for schools, health care assistance, environmental protection, and numerous other state-funded programs. Taxes on businesses, large corporations and merchandise, rentals and services make up the majority of this revenue, but Florida homeowners also make a significant contribution.

A clear understanding of Florida property taxes is an asset to any Florida home buyer. If you are considering a new home purchase in Florida, knowing the amount of tax you will need to pay, both at closing and on an annual basis, is an integral step in establishing a realistic housing budget. Certain taxes are assessed at the time of closing on your new home, while most annual taxes are deducted from your initial escrow account. An additional tax payment added to your monthly mortgage is used to replenish this escrow account each year.

Taxes due at closing

Whenever real estate is transferred in Florida, either by quit-claim deed, warranty deed, or a written obligation to pay (such as a mortgage) is filed, a Florida document tax must be paid to the County Clerk’s Office if the document is files, and directly to the Florida Department of Revenue if the document is not filed.

The Florida home buyer will be assessed a Florida mortgage tax, which is typically $0.35 per every $100 of the home’s value. A Florida State Mortgage Intangible Tax may also be assessed at an average rate of $0.35 per every $100 of the home’s value. Taxable home value is calculated by using a fair market price estimate.

Ad Valorem (property) taxes

All Florida residents are required to pay an annual Ad Valorem, or property, tax. The amount of tax due each year depends on the taxable value of your home, and on your county of residence. A comprehensive list of property tax rates among Florida counties can be obtained from the Florida Department of Revenue.

Tax exemptions

For many Florida residents, tax exemptions help to lower their annual property tax bills. The primary exemption available in the state of Florida is the Homestead Exemption, but there are many others available. The Widow’s and Widower’s Exemption, The $500 Disability Exemption, and the $5,000 Disability Exemption, to name a few. Tax exempt amounts are deducted from the fair market value of the home.

Homestead Exemption

The largest tax exemption for Florida home owners is the Homestead Exemption. A Homestead Exemption allows you to deduct $25,000 from the fair market value of your Florida home. To qualify, you must be a Florida resident, the home in question must be your primary residence as of January 1st.

Applying for this exemption is relatively simple. First, you must obtain a Homestead Exemption from your local property appraiser’s office. Standard application questions include: Name on property’s recorded title, street address of the property, length of time title holder has been a Florida resident, confirmation that title holder has a Florida license plate and driver’s license, and whether title holder resided at the property address as of January 1st.

Tax exemptions for disabled persons

The state of Florida offers several tax exemptions for those with permanent disabilities. Any Florida resident who is totally and permanently disabled may qualify for at $500 exemption. Residents who are ex-service members and who sustained at least a 10% disability in war or service-connected injury may apply for a $5,000 exemption on any property they own.

If you are an ex-service member who sustained an injury in wartime or service-related activities which let to a total and complete disability, you may be entitled to a complete tax exemption on your primary residence.

Property tax exemptions in the amount of $500 are available to blind persons residing in Florida.

Additional exemptions

Finally, property tax exemptions are available to widowed residents and residents over the age of 65. Florida Residents over the age of 65 who have an annual income of less than $20,000 may be entitled to an additional $25,000 Homestead Exemption.

Any widow or widower who can show permanent Florida residency is entitled to an additional $500 tax exemption. This exemption is revoked upon re-marriage.

For additional information on tax exemptions, qualifications, residency requirements and application forms, Florida residents can contact the county property appraiser, tax collector, or Florida Department of Revenue.

Our Concrete Florida Homes survive hurricanes – Tom Beaty a real estate broker and home builders inPalm Coast, Flagler County, and Volusia County. Visit: http://www.FavoriteProperties.com or http://www.AffordableFloridaHomes.com

Everybody around the world dreams of owning a house one day, though usually the dream is a bit extravagant, where you will own a 10 story house with 20 bathrooms and 500 bedrooms…

Which is something that really does not happen for most of use, but everyone can own a home, whether they are on bad credit, black listed or have good credit. The first step in getting a first time home loan is to educate yourself.

There is tons of information on the internet available for you when it comes to home loans and first time home buyers. There are also a lot of things you need to take into consideration. Many financial service providers think that because you are a first time home buyer you do not know what you need or are talking about. However, it is your duty to make them think differently. That is why it is so important for you to do your research before you walk into the bank, know what you are talking about and what you need.

Many financial consultants advise that you should always question your bank consultant about the rate, and if they can not give you an answer you should move higher up the ladder and talk to the big guy. Don’t assume that something is non-negotiable, especially if you are dealing with a small bank.

Some financial advisors also say that the banks have high interest rates because they want the client or customer to challenge them to bring it lower. It is your job to make sure you get the best deal when it comes to getting your first home loan. Do your research; know what you are talking about, and if you do not know what you are talking about then pretend you know what you are talking about. Realize however, you will run into many people just doing their jobs, and they have no reason to help and no will to do so, it is your fight and you should make sure you end up with the best deal and with a bank that will take care of you.

Also keep the bank’s perspective in view – they need to make money. If you are a risk, don’t expect good rates. If you are willing to remove risk for the bank (by increasing your down payment, for example) then you can expect better rates.

Visit http://www.amortgage4you.co.uk/ http://www.acommercialmortgage4you.co.uk and http://www.a-secured-loan-4-you.co.uk for more information.

Northern Cyprus having been off the international map for 30 years has returned to the fore-front of smart investor minds since the UN’s attempt to re-unify the island on May 1st 2004. Despite the fact that re-unification attempts failed to unite the island Northern Cyprus hit the press and people started to realize there was a whole different side to Aphrodite’s island.

The southern part of Cyprus is far better known by British holiday makers and investors but is often criticized for having become over commercialized and very expensive.

The North which is the more beautiful of the two regions now poses a real opportunity for investment enthusiasts. It still remains an undiscovered secret, retaining natural beauty and Cypriot character with beautiful sea and mountain views stretching along the coast. Although there is something of a property boom in progress in the North it is still highly undeveloped offering prices approximately 50% lower than their equivalents in the south.

Expected returns can give up to 30% or more in one year from plans to completion in the surrounding Kyrenia district with healthy rental returns should you wish to keep the property for holiday lets during the summer duration. The new up and coming area is East of Kyrenia, Esentepe, Bacheli and Tatlisu where the island’s first golf course is under construction and a large marina at planning stage. All the projects in this area are located close to the sea with the most stunning mountain backdrop and at a fraction of the price of more developed Mediterranean countries.

Property Development

Property is no longer considered an ‘alternative investment’ but a way of reaching excellent returns on initial capital. Northern Cyprus is at the beginning of the growth potential spectrum and therefore can provide excellent returns in a very short period of time.

Investment in property is now widely recognized as an excellent way of achieving outstanding returns on initial capital. North Cyprus is just embarking upon its property boom, and thus constitutes a prime opportunity for investors to enjoy a very high return on investment in a relatively short period of time.

Villas and apartments for sale in North Cyprus can provide many unique and lucrative investment opportunities for budding property investors. However keeping reliable relationships with some of the most widely-used developers and construction companies on the island is essential in order to kept abreast of the best investment packages and high-value projects available at any given time.

Background to North Cyprus

The EU is keen to reward the Turkish Cypriots for their efforts in trying to unify the island and immediately pledged 259 million euros in grants post referendum. Currently this money is being blocked by Greek Cyprus in the EU courts, however, Britain’s foreign affairs committee released a white paper (February 2005) urging Europe to grant monies as soon as possible and take steps to end the trade sanctions and embargos being imposed on the North.

Ascension talks are due to start this October to discuss Turkish ambitions to join the EU. The Cyprus problem is now again high on the agenda as it will need to be resolved before Turkey will be able to proceed in these talks.

Tourism

Due to the ongoing International air traffic restrictions, all flights in and out of the newly refurbished and modernised Ercan airport in the north have to go via Turkey. As there are only three airlines, all Turkish Owned, that have permission to fly these routes there is a low limit on the number of people that can be transported in and out daily.
In order to cope with growing demand the airlines are increasing their fleets to cope and smart travellers are also finding the new opportunity of flying via Larnaca in the South and crossing the border into the North a viable route of travelling. This is increasing tourism and providing new routes to put the North on the map. In addition some travel agents are now offering dual holidays in the North and South part of the island.

Negotiations to lift the International air embargo are, however, underway in Europe. This is supported by both the UK foreign affairs committee and the US.

Tourism Investments

Tourism developments are actively encouraged by both the local government and the government of Turkey and therefore many incentives, funding assistance and tax breaks are available.

* An INTEREST FREE LOAN is available from the government. A percentage of the total development cost can be borrowed from the development bank which has annual funds of 100 million dollars at its disposal to aid such projects.
* The loan can be repaid over a TEN YEAR period with an initial TWO YEAR repayment deferral.
* ALL PROFITS made by the tourist developments are VAT and TAX EXEMPT for a period of TEN YEARS.
* There are no restrictions on how much foreign currency can be brought into and removed from the country.

Duncan Johnson has a strong understanding of client needs and a deep knowledge of the property market in Northern Cyprus and are answerable to the client on every level. For more informantion on Villas and Apartments for sale in North please visit http://www.MeridiesHomes.com

It could be that you have contemplated buying condos in the hot Alberta real estate market of the day. You need to approach a Realtor for helping you out in your endeavor. However, regardless of whether the Realtor provides you with all the necessary help and guidance and informs you about the quintessential things about condominiums you can proceed to verify from the condo board the following important things-

- The percentage of units that are owner-occupied and tenant-occupied- Getting ascertained about the respective percentages of owner-occupied units and tenant-occupied units helps. Usually, the units will be more marketable if there are a greater percentage of owner-occupied units. However, the marketability is dependent on the purpose of the condo. In case of purchase of an investment property the condo board may be more sympathetic towards investor issues if there is a higher tenant ratio.

- The covenants, bylaws and restrictions governing the property and the grandfather clauses in place- There can be the legal provision that buyers who purchase a property after a certain date cannot rent out their units while those who have bought at some date prior to that can do so. It is important to seek a copy of the bylaws for determining whether you can live within them. The attorney can on your behalf review the property documents including the master deed.

- The amount that the association keeps in reserve and the manner in which that money is utilized and whether there is any reserve fund study carried out.

- Whether the associations assessments are keeping pace with the annual rate of inflation- The boards that are capable enough raise assessments by a certain percentage every year for building up reserves to fund future repairs. Now, for finding out whether the assessment is reasonable the rates are to be compared to others in the area.

- Whether the assessment covers common area maintenance, recreational facilities, trash collection, snow removal etc.

- The special assessments that have been mandated in the past five years and to what extent were each owner responsible for them.

- The amount of turnover occurring in the building

- Whether the project is in litigation and for what reason.

- The reputation of the developer.

- Whether multiple associations are involved in the property

By getting to know about these you will be in a position to determine how responsive and organized the board members are. You will be helped thus in taking a wise decision regarding the purchase of the condo.

Jason Uvios writes about on Things to Check Out While Buying Condos in Alberta to visit :- http://www.albertarealestate-online.info, http://www.albertarealestateinformation.info and http://www.albertarealestateezine.info

In Florida real estate, the summer months are the busiest time of the year. Thousands of new and existing homes are sold in Florida from April through August. But while summertime in Florida represents the peak buying season for Florida homes, it is also a time of year where all Floridians are keeping a watchful eye on the weather.

The Atlantic hurricane season runs from May to November, with the peak of hurricane season falling at the end of September. At this time of year, Florida residents must remain on guard, and be prepared for severe weather. Luckily, Florida residents experienced a peaceful 2006 hurricane season after two years of regular, severe storms. But with the 2007 season right around the corner, Florida residents must once again brace themselves for whatever Mother Nature decides to send their way.

Preparing for hurricane season: How can you protect your family and your home?

At the start of hurricane season, most local grocery retailers begin stocking Hurricane Preparedness guides provided by the National Hurricane Center. These guides are filled with helpful information, from what supplies to keep on hand to evacuation routs, emergency numbers and shelter locations.

Stocking up on the correct supplies, purchasing a generator, and having an emergency plan in place is an essential part of hurricane planning for all Florida residents. But what about protecting a home from damage? There are hurricane shutters (both professionally installed and hand made using plywood) and sandbags to help with this, but for Florida residents who are in the market for a new home this summer, there are additional safety measures available that will offer much greater protection from storm damage.

Above-code construction

In the state of Florida, all home builders must comply with certain building codes before a home is approved for occupancy. These building codes are in place to ensure that all homes built in the state of Florida meet certain safety requirements. Florida state officials inspect each home upon completion to check for code compliance.

Despite the major overhaul in Florida building code after Hurricane Andrew devastated Homestead in 1992, home builders in most Florida counties are only required to build homes that will withstand a Category 2 hurricane, with winds less than 120 mph. A few counties adopted code requiring that all homes be built to withstand a Category 4 storm (such as Katrina), but they are definitely in the minority.

For today’s Florida home buyers, a few home builders in the state have taken the initiative to go above and beyond in the hurricane protection they provide their home buyers. “Above Code” is a term used by these builders to indicate this additional hurricane protection.

Above-code homes may include steel reinforced, solid concrete walls and foundations, additional roof trusses, and impact resistant windows. Many of these homes will withstand winds of at least 140 mph (Category 4 strength), and the solid concrete construction protects against leaks and flood damage.

The best protection for your family and your home

There are many ways for Florida residents to protect themselves and their homes during a hurricane. Preparedness in regards to supplies, storm shutters, generators, and evacuation planning will serve any Florida resident well. But for residents who want to provide their home and family with the maximum amount of hurricane protection, and who are in the market for a new home this summer, purchasing an above-code home should be taken under serious consideration.

Most home builders who offer these above-code homes are easily found by searching the internet, local real estate listings, and by obtaining referrals from a Florida realtor. Before choosing a builder, home buyers should thoroughly research each candidate.

Requesting references from other home owners who have worked with that builder is a common practice, one that reputable builders are more than happy to comply with. Buyers should pay a personal visit the builder’s sales offices to get a feel for the builder’s staff, available home models, and price ranges.

Our Concrete Florida Homes survive hurricanes – Tom Beaty a real estate broker and home builders in Palm Coast, Flagler County, and Volusia County. Visit: http://www.FavoriteProperties.com or http://www.AffordableFloridaHomes.com