Friday, January 5, 2007

Florida Insurance Rates

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Tallahassee Florida - Jan, 2007
Governor Charlie Crist takes office just two weeks before the Legislature convenes in a special session to attempt to solve the state’s property insurance crisis. The new governor didn’t skirt that issue and a second – property taxes – in his remarks.

He singled out an 83-year-old Pensacola woman whose homeowners insurance premium climbed from $1,000 a year to more than $5,000. “Some of our families are no longer able to afford their homes, spending down their retirement to keep a roof over their head, leveraging their children’s future to keep food on the table,” Crist said. “This cannot – this will not – stand.”

He said he will also seek a constitutional amendment to cut property taxes, but he did not elaborate in the speech. On the campaign trail, Crist proposed a constitutional amendment allowing counties to double the Florida homestead exemption from $25,000 to $50,000, and also proposed allowing homeowners to transfer the tax benefits from their homestead status to another home, a concept known as “portability.”

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