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Find Blog Articles for Florida’s Condo, HOA and the Management Industry. 

SFPMA’s Condo & HOA Bank Statements

SFPMA’s Condo & HOA Bank Statements

Condo & HOA Bank Statements

HOA bank statements are just as they sound: a statement from the bank showing all deposits and withdraws from each association account over a certain period of time. The most effective way to prevent fraud within your community association is to keep a close eye on bank statements. Most associations have at least two accounts: an operating account for regular costs of running a community association and a reserve account for setting aside funds for future projects.

Reviewing bank statements on a regular basis is important because it is one of the few financial documents that is not prepared by the association board of directors or HOA management company. Comparing bank statements with association financial statements is a good way for other HOA members to check the accuracy of financial statements prepared by the manager and/or treasurer.

 

 

What is Included in an Condo &HOA Bank Statement

A proper bank statement should include a timeline of all deposits and withdraws into and out of association accounts. Each account should have its own statement. It is important to carefully review every transaction to prevent potential fraud. One of the most common ways fraud is committed is by “borrowing” money from a long-term reserve fund and returning the money after a time; essentially taking out a loan using association funds. This is common because of how hard it is to track. If all funds are accounted for in the long run, nobody would know unless they inspect each individual transaction.

 

Who Should Review Bank Statements

Only a few people have access to association funds. Usually, it is just the president, treasurer, and/or your property management company if you choose to use one. This leaves a lot of power in the hands of a few. If left unchecked, it could be an opportunity for fraud. It is important that all bank statements be sent to someone other than the member(s) who have the ability to write checks. That way, they can act as an impartial inspector to make sure that nothing is missing within the HOA accounts.

 

How Often Should Bank Statements Be Checked

Bank statements should be included with all other financial statements prepared at the interval as determined by your HOA whether it be monthly, quarterly, or annually. Ideally, bank statements should be checked as frequently as possible. Some banks offer online banking services that allow for 24/7 access to association account statements.

 

Need More Information

Financial management can be one of the toughest aspects of operating a successful HOA. If you are having trouble with reviewing financial documents such as HOA Bank Statements, contact the professionals at CSM. We have years of experience working with homeowner’s associations from all over the United States. Using state-of-the-art technology, we can provide financial management assistance while still allowing association directors to remain independent.

 

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How Do You Stop Pavers From Being Slippery by CoverTec Products

How Do You Stop Pavers From Being Slippery by CoverTec Products

  • Posted: Oct 27, 2020
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How Do You Stop Pavers From Being Slippery

Almost every day, I get this question from customers calling our office. Even though the customers’ environments vary, my responses are usually similar. My advice is usually something like this.

 

 

There are 3 methods you could use to stop pavers from being slippery.

  1.  First, you could clean the paver every time you notice anything on the surface that could be slippery – if you had that kind of free time.
  2.  Second, you could use a surface treatment that manages the causes of slippery conditions.
  3.  And third, you could use a sealer to increase the friction on the surface. All of these are useful solutions, and it all depends on your goal.

With the cleaning method, obviously you need to get the mold and mildew, food contaminants or water spills off the surface. This can be done by sweeping or mopping to minimize the “slippery when wet” conditions. However, this is not always possible. This is when you need to look at the second option of using surface treatments.

Applying treatments on the surface of the paver should change its characteristics to manage water and other slip-causing agents more effectively. The result being that when you walk or run on the surface – rather than aquaplaning – you have adequate traction to be safe.

The third option is to use sealers. And there are 2 basics types you need to be aware of:

  1. Topical sealers
  2. Penetrating sealers.

If you choose to work with a Topical sealer, use one that contains an anti-slip additive that increases the friction on the surface. This will make it much harder for you to slip when moving across the surface. Otherwise, you can use a Penetrating sealer that soaks into the pavers’ pores and does not leave the surface slick or in a slippery condition.

 

Is Paver Sealer Slippery?

Paver sealer products can be slippery if applied too thick, leaving behind a slick film on the surface. Avoid this situation by using thin mil sealers that penetrate deep into the surface and leave a very thin film on the surface.

You can also use additives in the sealer itself to increase the friction on the surface. Again, you can always use a penetrating sealer that will soak into the sub-surface, without leaving a slippery film behind.

We can scientifically measure how slippery a paver or tile surface isWatch this video to see how we do this on a customer’s pool deck pavers – before and after – they use our pro-grade products.

 

It’s all about finding the right anti-slip product for the floor surface you are walking on.

As always, if you have any questions about which product is the best for your unique situation, call us at: 754-253-3401

View our Membership Page on sfpma members directory

 

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Cohen Law Group is proud to once again support The Leukemia & Lymphoma Society, this year’s Light The Night virtual event on Thursday, November 12. 

Cohen Law Group is proud to once again support The Leukemia & Lymphoma Society, this year’s Light The Night virtual event on Thursday, November 12. 

  • Posted: Oct 27, 2020
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Cohen Law Group is proud to once again support The Leukemia & Lymphoma Society’s (LLS)

Mission: to cure leukemia, lymphoma, Hodgkin’s disease and myeloma, and improve the quality of life of patients and their families through our participation in the Central Florida Light The Night. Light The Night is LLS’s annual fundraising event and the nation’s night to pay tribute and bring hope to people battling cancer.  Please help SFPMA Support our Members and the Lukemia & Lymphoma Society with a Donation.

This year’s “Light The Night” virtual event on

Thursday, November 12. 

Madison Cohen and Harvey Cohen share their touching story of survival and hope

As you may already know, my daughter Madison is a blood cancer survivor.

See her story by clicking on the video below.

The Leukemia & Lymphoma Society is an organization that I continue to support because I know first-hand that they are saving lives and I hope you can help us save lives as well.
Cohen Law Group has set an ambitious goal to raise $10,000 for the Central Florida Light The Night. We truly value the partnership that Cohen Law Group, has developed with you. We view you as a partner with Cohen Law Group in the effort to make our communities healthier.
I am asking you to please make a contribution to help us reach our goal.
I am confident that you will join us in stepping up to the challenge. Your tax-deductible contribution (LLS Federal Tax ID: 13-5644916) will greatly enhance these collective efforts. We also invite you to join Cohen Law Group at this year’s Light The Night virtual event on Thursday, November 12. 

Please join us in supporting an organization dedicated to saving and changing lives.

 

You can make a secure online donation by clicking on the link below:

Team fundraising page  https://pages.lls.org/ltn/ncfl/Orlando20/cohenlawgroup

 

I look forward to your support of our efforts. Thank you and have a great day.

At Cohen Law Group, It’s About Justice!
It’s more than a slogan, it’s our firm’s mantra. We are zealous in protecting your rights. We offer 24-hour availability through our answering service. Call us today.
(407) 478-4878
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CAN I GET A REFUND?  By Eric Glazer, Esq.

CAN I GET A REFUND? By Eric Glazer, Esq.

  • Posted: Oct 27, 2020
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CAN I GET A REFUND?

By Eric Glazer, Esq.

Talk about beating a dead horse.  I have been asked over and over and over again, by unit owners all across the state if:

-They are entitled to a refund at the end of the year or;

-They can currently withhold portions of their monthly assessment,

because the pool, restaurant, club, spa, gym, card room, library or any other common facility has been closed during the  Coronavirus pandemic.

  The simple answer is NO.  And it is driving a lot of people crazy.  As you know, the budget for 2020 was probably passed in October or November of 2019.  The budget included the anticipated 2020 expenses including insurance that covered the pool, restaurant, club, spa, gym, card room, library or any other common facility.  The budget covered the maintenance of the pool that was never discontinued.  The budget covered maintenance of the property, landscaping, director and officer insurance, management fees, accounting fees, legal fees, fees payable to the DBRP (if you’re a condo), security, reserve accounts, repayment of bank loans in some circumstances, office supplies, major and minor repairs and so on and so on and so on.

NONE OF THESE EXPENSES CEASED DURING THE CORONAVIRUS SHUTDOWN.  For all intents and purposes, the expenses of the association stayed the same in 2020, and in some cases actually went up, where the association decided to hire extra cleaning staff during the crisis to help keep the property spic and span.

So…..for those of you who have threatened to withhold your assessments.  Please don’t.  Trust me on this…..instead of owing $300.00 you will quickly owe $3,000.00 or more.  Hopefully, we are turning the corner, our facilities will soon be opened and we can all meet again, sit in the theater again, play cards, exercise and swim together.  In the meantime, wishing you and your families only the best of health.

 

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FITNESS SAFETY PARTITIONS KEEP EVERYONE SAFE WHILE USING GYM EQUIPMENT by Commercial Fitness Equipment

FITNESS SAFETY PARTITIONS KEEP EVERYONE SAFE WHILE USING GYM EQUIPMENT by Commercial Fitness Equipment

  • Posted: Oct 22, 2020
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Commercial Fitness Products

954-747-5128

http://www.commfitnessproducts.com

Offered by the Owner of Commercial Fitness Products /Richard Wasserlauf 

Commercial Fitness Products, a Florida based organization, has been serving the fitness needs of our customers nationwide for over 27 years. Our primary focus is Multi-Housing & Hospitality, as such, we stay current on the latest industry trends, and are able to share ideas on how we may equip or improve any community fitness center. We provide more than just equipment…our goal is to delight your residents & guests by providing them an exceptional fitness environment.

CFP’s team of experienced professionals are eager to assist you with prompt & courteous customer service. If you have any plans to add, change or upgrade your fitness amenity, we welcome the opportunity to work hard to earn your business.

View our Membership Listing on SFPMA

 


 

SALE OF FITNESS SAFETY PARTITIONS

✔ Place between fitness equipment to keep users safe and comfortable while exercising.
✔ Shield against airborne contaminants
✔ Help maximize equipment usage
✔ Easy to clean and sanitize
✔ Quickly install, place and move
✔ Minimally intrusive design
✔ Complies with OSHA guidelines
✔ Vinyl Screen rolls up for easy, space saving storage
Product SKU & Dimensions:
60” x 96”
Sales Price: $499 (plus shipping & assembly, and sales tax)

 

 

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Webinar: Season 2, Episode 2 of Association Leadership by Castle Group & Kaye, Bender, Rembaum

Webinar: Season 2, Episode 2 of Association Leadership by Castle Group & Kaye, Bender, Rembaum

  • Posted: Oct 22, 2020
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Webinar: Season 2, Episode 2 of Association Leadership by Castle Group & Kaye, Bender, Rembaum

WEBINAR Florida

Webinar: Season 2, Episode 2 of Association Leadership

by Castle Group & Kaye, Bender, Rembaum

Oct 28, 2020 12:00 PM

Register today

Webinar: Season 2, Episode 2 of Association Leadership by Castle Group & Kaye, Bender, Rembaum Oct 28, 2020 12:00 PM Castle Group invites you to join us for Season 2, Episode 2 of Association Leadership. This week’s discussion will focus on the impact of Phase 3 on Associations operations. The live webinar will be hosted by Craig Vaughan- Castle Group, President and Attorney Jeffrey A. Rembaum- Kaye Bender Rembaum, P.L.- Board Certified Specialist in Condominium and Planned Development Law. Wednesday, October 28, 2020 12:00 PM – 1:00 PM Register to attend by visiting

 

Keep up to date with other events: Stay informed and check our Industry Calendar and sign up for them!

 

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Association Operations During Covid-19 | Episode 13 | Focus on Phase 3 by Kaye Bender Rembaum

Association Operations During Covid-19 | Episode 13 | Focus on Phase 3 by Kaye Bender Rembaum

  • Posted: Oct 22, 2020
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Association Operations During Covid-19 | Episode 13 | Focus on Phase 3

by Kaye Bender Rembaum

Watch the Video Listen and Learn! <Click the Link!

Kaye Bender Rembaum is a full service commercial law firm devoted to the representation of more community associations throughout Florida. Under the direction of attorneys Robert L. Kaye, Esq., Michael S. Bender, Esq., and Jeffrey A. Rembaum, Esq. Kaye Bender Rembaum is dedicated to providing clients with an unparalleled level of personalized and professional service regardless of their size and takes into account their individual needs and financial concerns.
The associates of Kaye Bender Rembaum establish relationships with clients to understand their needs and goals. Kaye Bender Rembaum assists clients in all matters of Association representation including, but not limited to, collection of assessments, contract negotiation, covenant review and amendment, covenant enforcement and construction defect claims. Kaye Bender Rembaum also keeps clients up-to-date on new developments in the law and how they are personally affected by them.Kaye Bender Rembaum provides prompt, effective, high quality, cost-efficient and understandable legal advice and services to a diverse client base. Associates strive to help clients operate and administer their communities better and to educate them on their responsibilities and duties under Florida law and their governing community documents. Robert Kaye, Michael Bender and Jeff Rembaum are industry leaders who are often sought out by public policy makers and the media for advice and commentary on community association law.The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Thank you for your interest in Kaye Bender Rembaum

 

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Can Political Flags Be Flown? Q&A by DAVID G. MULLER / Becker

Can Political Flags Be Flown? Q&A by DAVID G. MULLER / Becker

  • Posted: Oct 22, 2020
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Can Political Flags Be Flown? Q&A

by DAVID G. MULLER / Becker

Q: I went on a walk in my community and saw at least 8 homes flying either Trump or Biden flags.  Is it legal to fly a political flag on a home located in a homeowners association? I.B.

A: Sections 720.304(2)(a) and 720.3075(3) of the Florida Homeowners Association Act specifically permit the flying of the US flag and other types of governmental flags, including flags of the various military branches.  These statutes do not address other types of flags, such as political flags.

The governing documents for some communities prohibit owners from flying non-exempt flags, such as political flags or flags with sports team logos.  There is an open and rather complicated legal issue as to whether it is an infringement of a homeowner’s First Amendment free speech rights to restrict political speech.

The First Amendment only applies by its terms to Congress, and, by virtue of the Fourteenth Amendment to the Constitution, to the states and their local governments. In legal jargon, “state action” is required before constitutional rights come into play.  There are several Florida cases which have held that a community association is not a state actor.

Your association’s attorney should be able to determine if these political flags are indeed regulated by the governing documents, and if so, guide you through the constitutional law analysis that is part of deciding your options.

 

Q: Your February 2020 column addresses the cap on transfer fees for condominium associations.  Is there a similar cap for homeowners associations? D.P.

A: No.  My February 2020 column referenced Section 718.112(2)(i) of the Florida Condominium Act, which states that no charge shall be made by a condominium association in connection with the sale, mortgage, lease, sublease, or other transfer of a unit unless the association is required to approve such transfer and unless a fee for such approval is provided for in the declaration, articles, or bylaws. Any such fee (in the condominium association context) may be preset but may not exceed $100 per applicant other than husband/wife or parent/dependent child, who are considered one applicant.  There is no similar provision found in Chapter 720 of the Florida Statutes, the Florida Homeowners Association Act.

 

Q: I am considering purchasing a home in a community with a homeowners association, but I have been told that there is a “capital contribution” fee of $1,500 charged to all purchasers.  Is such a fee legal? T.F.

A: Sometimes referred to as a “flip tax”, these charges are not uncommon in the homeowner association context. There is neither authority for nor prohibition on this type of fee in the law applicable to homeowners’ associations (the condominium law does address this issue).  If the authority to charge the capital contribution fee is contained in the appropriate governing documents, the prevailing view in the legal community is that such charges are legally valid.

 

 

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Hurriciane Claims 101 Lunch and Learn November 4rth 2020

Hurriciane Claims 101 Lunch and Learn November 4rth 2020

  • Posted: Oct 19, 2020
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Wednesday, November 4, 2020

Lunch & Learn

11:30am – 1:30pm

Happy Hour

5:00pm – 7:00pm

V. Paul’s Italian Ristorante

29 Palafox Place

Pensacola, FL 32502

Contact Daphne To RSVP

Daphne@itsaboutjustice.law

(407)383-6732

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Exclusive Year-End Savings On Fountains & Aeration by SOLitude

Exclusive Year-End Savings On Fountains & Aeration by SOLitude

  • Posted: Oct 15, 2020
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Exclusive Year-End Savings On Fountains & Aeration

by SOLitude

For most of us, 2020 has been rough and next year can’t come soon enough. As a small way of helping out, we are pleased to offer some year-end savings to our loyal clients and followers. Purchase any new fountain or aeration system and receive FREE installation services*. Contact us today to maximize your savings!

Receive FREE basic installation, or $700 off installation, with purchase of a new fountain or aeration system. Offer is valid for contracts signed after 10/14/20. Installation date must be prior to 12/31/20.

 

Contact us Today for Savings before the years end!

 

 

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2020 Florida Constitutional Amendments by KBR Legal

2020 Florida Constitutional Amendments by KBR Legal

  • Posted: Oct 15, 2020
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2020 Florida Constitutional Amendments

What You Need To Know Before Voting 

When voters go to the polls on November 3, 2020, there will be six constitutional amendment proposals on the ballot. This article contains a brief discussion of the amendments. In order to adopt each amendment, it must be approved by 60% of voters casting a ballot. We take no position on any of the amendments, and simply wish to provide our readers with a summary of each proposed amendment. The ballot title and summary of each amendment, as same will be listed on the ballot, is provided, and a brief explanation follows.

 

 

Amendment 1Citizenship Requirement to Vote in Florida Elections

This amendment provides that only United States Citizens who are at least eighteen years of age, a permanent resident of Florida, and registered to vote, as provided by law, shall be qualified to vote in a Florida election. Because the proposed amendment is not expected to result in any changes to the voter registration process in Florida, it will have no impact on state or local government costs or revenue. Further, it will have no effect on the state’s economy.

 

Discussion:

Amendment 1 amends the language of Article VI of the Florida Constitution. Currently, Article VI provides that “Every citizen of the United States who is at least eighteen years of age and who is a permanent resident of the state, if registered as provided by law, shall be an elector of the county where registered.” This amendment revises the language of Article VI to provide that “Only a citizen of the United States…” can vote. As currently drafted, the language of Article VI bars non-citizens from voting.

  • Proponents argue that the language change is necessary to clarify who is not permitted to vote, and to stimy any efforts to give voting rights to non-citizens in local elections.
  • Opponents argue that the amendment is unnecessary as the language of Article VI of the Florida Constitution already limits voting to citizens.

 


Amendment 2: Raising Florida’s Minimum Wage

Raises minimum wage to $10.00 per hour effective September 30th, 2021. Each September 30th thereafter, minimum wage shall increase by $1.00 per hour until the minimum wage reaches $15.00 per hour on September 30th, 2026. From that point forward, future minimum wage increases shall revert to being adjusted annually for inflation starting September 30th, 2027. State and local government costs will increase to comply with the new minimum wage levels. Additional annual wage costs will be approximately $16 million in 2022, increasing to about $540 million in 2027 and thereafter. Government actions to mitigate these costs are unlikely to produce material savings. Other government costs and revenue impacts, both positive and negative, are not quantifiable.

 

THIS PROPOSED CONSTITUTIONAL AMENDMENT IS ESTIMATED TO HAVE A NET NEGATIVE IMPACT ON THE STATE BUDGET. THIS IMPACT MAY RESULT IN HIGHER TAXES OR A LOSS OF GOVERNMENT SERVICES IN ORDER TO MAINTAIN A BALANCED STATE BUDGET AS REQUIRED BY THE CONSTITUTION.

 

Discussion:

Amendment 2 would increase Florida’s minimum wage to $15.00 per hour by September 2026. Currently, Florida’s minimum wage is $8.56 per hour. The amendment proposes to increase the minimum wage to $10.00 per hour in September 2021 with an increase of $1.00 per hour each year until the minimum wage becomes $15.00 per hour in September 2026. Thereafter, the minimum wage will be adjusted annually for inflation.

  • Proponents argue that the increased minimum wage will allow minimum wage workers to earn enough to afford basic household necessities, and help to reduce race and gender income inequality. They also point to a potential increase in economic activity by increased household spending.
  • Opponents argue that an increase in labor costs would likely be passed on to the customers which would lead to an increase in the cost of living. They argue that a minimum wage increase would impact state and local governments with increased wage costs of $16 million in 20212 and $540 million in 2027. They point to a 2019 Congressional Budget Office analysis looking at the potential impact of raising the federal minimum wage which predicted a .8% drop in employment and reduced business income.

 


Amendment 3: All Voters Vote in Primary Elections for State Legislature, Governor, and Cabinet

Allows all registered voters to vote in primaries for state legislature, governor, and cabinet regardless of political party affiliation. All candidates for an office, including party nominated candidates, appear on the same primary ballot. Two highest vote getters advance to general election. If only two candidates qualify, no primary is held and winner is determined in general election. Candidate’s party affiliation may appear on ballot as provided by law. Effective January 1, 2024. It is probable that the proposed amendment will result in additional local government costs to conduct elections in Florida. The Financial Impact Estimating Conference projects that the combined costs across counties will range from $5.2 million to $5.8 million for each of the first three election cycles occurring in even-numbered years after the amendment’s effective date, with the costs for each of the intervening years dropping to less than $450,000. With respect to state costs for oversight, the additional costs for administering elections are expected to be minimal. Further, there are no revenues linked to voting in Florida. Since there is no impact on state costs or revenues, there will be no impact on the state’s budget. While the proposed amendment will result in an increase in local expenditures, this change is expected to be below the threshold that would produce a statewide economic impact.

 

Discussion:

Currently, Florida is a closed primary state, meaning that voters can only vote in the primary of the party with which they are affiliated. Amendment 3 would replace closed primaries with open primaries for the following elections: Governor, State Cabinet, and Florida Legislature. In an open primary all voters vote for all candidates on a single ballot. The top two vote getters, regardless of party affiliation, would advance to the general election. This change would only apply to the enumerated elections, and would not apply to local or federal races.

  • Proponents argue that open primaries would help increase voter participation by allowing registered voters not affiliated with a major political party to participate in primary elections. They also argue it could help produce more competitive races and attract more moderate candidate to run for state offices.
  • Opponents argue that open primaries could result in two members of a major political party being on the general ballot. Additionally, opponents argue that closed primaries ensure that candidates conform more closely and consistently with positions held by the two major political parties.

 


Amendment 4: Voter Approval of Constitutional Amendments

Requires all proposed amendments or revisions to the State Constitution to be approved by the voters in two elections, instead of one, in order to take effect. The proposal applies the current thresholds for passage to each of the two elections. It is probable that the proposed amendment will result in additional state and local government costs to conduct elections in Florida. Overall, these costs will vary from election cycle to election cycle depending on the unique circumstances of each ballot and cannot be estimated at this time. The key factors determining cost include the number of amendments appearing for the second time on each ballot and the length of those amendments. Since the maximum state cost is likely less than $1 million per cycle but the impact cannot be discretely quantified, the change to the state’s budget is unknown. Similarly, the economic impact cannot be modelled, although the spending increase is expected to be below the threshold that would produce a statewide economic impact. Because there are no revenues linked to voting in Florida, there will be no impact on government taxes or fees.

 

THE FINANCIAL IMPACT OF THIS AMENDMENT CANNOT BE DETERMINED DUE TO AMBIGUITIES AND UNCERTAINTIES SURROUNDING THE AMENDMENT’S IMPACT.

 

Discussion:

Amendment 4 would change the requirements to approve a constitutional amendment. Currently, a constitutional amendment is adopted if it is approved by 60% of the voters casting a ballot. Amendment 4 would require an amendment to be approved by at least 60% of the voters in two consecutive election cycles. In other words, a proposed amendment would have to be approved twice.

  • Proponents argue that requiring double approval would limit “legislating” by constitutional amendment by making it harder to adopt amendments to the Florida Constitution.
  • Opponents argue that it will limit voters’ ability to amend the constitution and to act as a check on the Florida Legislature when it fails to pass laws that are important to citizens.

 


Amendment 5: Limitations on Homestead Property Tax Assessments; increase portability period to transfer accrued benefit

Proposing an amendment to the State Constitution, effective January 1, 2021, to increase, from 2 years to 3 years, the period of time during which accrued Save-Our-Homes benefits may be transferred from a prior homestead to a new homestead.

 

Discussion:

Amendment 5 increases the amount of time property owners have to transfer the “Save Our Homes” property tax exemption when they move. Currently, property owners have two years to transfer their tax exemption when they move. Amendment 5 would extend that to three years effective January 1, 2021.

  • Proponents argue that, as the tax year starts on January 1, owners who sell later in the year end up with less time to transfer their tax benefit than owners who sell earlier in the year. They argue that extending the exemption to three years allows more Floridians to take advantage of the transfer.
  • Opponents argue that the amendment would reduce local property taxes, including a reduction of $1.8 million in fiscal year 2021-2022.

 


Amendment 6: Ad Velorem Tax Discount for Spouses of Certain Deceased Veterans Who Had Permanent, Combat-Related Disabilities

Provides that the homestead property tax discount for certain veterans with permanent combat-related disabilities carries over to such veteran’s surviving spouse who holds legal or beneficial title to, and who permanently resides on, the homestead property, until he or she remarries or sells or otherwise disposes of the property. The discount may be transferred to a new homestead property of the surviving spouse under certain conditions. The amendment takes effect January 1, 2021.

 

Discussion:

Under current law, honorably discharged, combat disabled veterans who are over 65 are eligible for a homestead property tax discount. However, the discount expires upon the death of the veteran. Amendment 6 would allow the homestead property discount to be transferred to the veteran’s surviving spouse who is on the title and lives in the home.

  • Proponents argue that the amendment would extend additional tax relief to assist surviving spouses who often live on fixed incomes.
  • Opponents argue that the tax discount will lead to a reduction in tax revenue including a reduction in school tax revenue by $1.6 million annually and non-school property tax revenue by $2.4 million annually.

 

A special Thank You to attorney Olivia Cato of our firm for preparing this article

 

 

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