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Huh... I didn't really think about it but I wonder if other states (NY was mentioned in the thread above) have a similar rule regarding reassessing the value on

• jdmichal 12y ago
  Florida amended the "Save our Homes" regulation into the state constitution in 1995. Property is reassessed every year, but growth is capped for the purposes of property taxes. The value can only increase for the lesser of 3% or the CPI. Furthermore, if the assessed value drops below the current taxed value, the capped value is reset to that lower value. Overall, it is a very owner-friendly regulation. The Department of Revenue has a table of all increases since inception. [0] Obviously, transfer of ownership resets the taxed value to the current assessment. [0] http://dor.myflorida.com/dor/property/resources/limitations.html http://dor.myflorida.com/dor/property/resources/limitations....