So you have residential that are not Homestead and then you have commercial properties, the Homestead property limits the amount they can increase your valuations. They cap that at most at 3%. And that does help for sure. Now, you know, depending on where the market is, if you have to buy a new home, you could get a reset tax basis. (15:16–15:33)
CLAIM
Asserts that there is a 3% cap on valuation increases for Homestead properties in Florida.
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