Over the past few years, I have been rather critical of the Save Our Homes Amendment as I have historically believed that it placed an unfair burden on the lifeline of Southwest Florida……..second home owners.
It has always seemed very unfair to me that second homeowners, who were down here on a seasonal basis and not using resources like our schools, were being penalized because they didn’t qualify for a homestead exemption. These second homeowners have had very little power to change this inequity as they are not residents, don’t vote and are not represented in Tallahassee.
With the drastic reduction in home values throughout our region, the Homestead Act is now penalizing homesteaders as their valuation reductions are capped at a maximum of 3%. It will be interesting to see if these penalized homesteaders can generate enough of a voice to repeal this unfair act and and bring normalcy to Florida real estate valuations.