logging in or signing up Understanding Portability EXPOsYourself Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 76 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: January 14, 2009 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript UNDERSTANDING PORTABILITY : UNDERSTANDING PORTABILITY And Other Tax Benefits Vote - January 29, 2008 : Vote - January 29, 2008 Save Our Homes Portability Tangible Personal Property Exemption Assessment Cap on Non-Homestead Properties Save Our Homes Portability : Save Our Homes Portability Q: What is Save Our Homes (SOH)? A: An assessment cap on all homestead properties of 3% or Consumer Price Index (CPI) (whichever is less) beginning from the base year. Base year – the year in which the property owner applies for homestead exemption (Deadline: March 1st.) SOH Cap Differential & SaleSOH – Effective Date Jan. 1, 1995 : SOH Cap Differential & SaleSOH – Effective Date Jan. 1, 1995 Building Equity and Cap Differential : Building Equity and Cap Differential Portability – Up Sizing in Value : Portability – Up Sizing in Value Market Value – Assessed Value = Portable Tax Savings Portability – Downsizing in Value : Portability – Downsizing in Value Assessed Value / Market Value = Percentage of SOH Saving to be Applied to New Property How SOH Portability Works : How SOH Portability Works : How SOH Portability REALLY Workswww.miamidade.gov/pa SOH Portability - Effective Date Jan. 1, 2008Sale Transaction - Effective Date Jan. 1, 2007 Tangible Personal Property Exemption : Tangible Personal Property Exemption Starting with the 2008 tax bill, businesses will be exempted up to $25,000 in assessed value for tangible personal property tax. Slide 11: What is tangible personal property? Slide 12: What is tangible personal property? Furniture, fixtures and equipment located in businesses and rental property. It also applies to structural additions to mobile homes. Assessment Cap on Non-Homestead Properties : Assessment Cap on Non-Homestead Properties Beginning with the 2009 tax bill, all non-homestead properties will have a 10% assessment cap. You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
Understanding Portability EXPOsYourself Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 76 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: January 14, 2009 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript UNDERSTANDING PORTABILITY : UNDERSTANDING PORTABILITY And Other Tax Benefits Vote - January 29, 2008 : Vote - January 29, 2008 Save Our Homes Portability Tangible Personal Property Exemption Assessment Cap on Non-Homestead Properties Save Our Homes Portability : Save Our Homes Portability Q: What is Save Our Homes (SOH)? A: An assessment cap on all homestead properties of 3% or Consumer Price Index (CPI) (whichever is less) beginning from the base year. Base year – the year in which the property owner applies for homestead exemption (Deadline: March 1st.) SOH Cap Differential & SaleSOH – Effective Date Jan. 1, 1995 : SOH Cap Differential & SaleSOH – Effective Date Jan. 1, 1995 Building Equity and Cap Differential : Building Equity and Cap Differential Portability – Up Sizing in Value : Portability – Up Sizing in Value Market Value – Assessed Value = Portable Tax Savings Portability – Downsizing in Value : Portability – Downsizing in Value Assessed Value / Market Value = Percentage of SOH Saving to be Applied to New Property How SOH Portability Works : How SOH Portability Works : How SOH Portability REALLY Workswww.miamidade.gov/pa SOH Portability - Effective Date Jan. 1, 2008Sale Transaction - Effective Date Jan. 1, 2007 Tangible Personal Property Exemption : Tangible Personal Property Exemption Starting with the 2008 tax bill, businesses will be exempted up to $25,000 in assessed value for tangible personal property tax. Slide 11: What is tangible personal property? Slide 12: What is tangible personal property? Furniture, fixtures and equipment located in businesses and rental property. It also applies to structural additions to mobile homes. Assessment Cap on Non-Homestead Properties : Assessment Cap on Non-Homestead Properties Beginning with the 2009 tax bill, all non-homestead properties will have a 10% assessment cap.