THIS FRIDAY STARTS A 12-DAY TAX FREE HOLIDAY ON STORM ITEMS

Save money on batteries, generators, flashlights, fans, portable radios and other storm-related supplies during this period when you won’t be paying sales tax on these items. Florida residents are expected to save about $25-MM in sales taxes during this period.

WEST PALM BEACH CREATES THREE NEW ZIP CODES

With the areas around Highway 441 growing in leaps and bounds with gated communities, strip malls and office parks where there used to be acres of farmland, the communities covering areas west of Boynton Beach, from Military Trail to the Loxachatchee National Wildlife Refuge, will soon have new zip codes, as pictured here. The change will be effective July 1^st. The 33437 ZIP code grew between 7 percent and 12 percent a year during the county's building boom, according to the U.S. Postal Service. Parts of Lake Worth, for example, will now have a Wellington address.

STADIUM JUMPING PLANS MOVE FOR HORSE SHOWS

Stadium Jumping Inc. plans a move to 179 acres on 50th Street, between 120th and 130th Avenues in Wellington. The land is part of the 610-acre Wellington Preserve community. However, a lawsuit is pending with more being threatened due to a long list of conditions from the South Florida Water Management District as well as needing to install milions of dollars worth of roads and other infrastructure.

Their current location at Palm Beach Polo Equestrian Club has gotten too small. Their shows include the Winter Euqestrian Festival and the National Horse Show.

A former partner of the Stadium Jumping President has sued saying the President signed a binding agreement to stay on the current site for 30 years, and this has divided the Wellington Equestrian community. The President says that 2010 is a realistic date for completion of the move.

Equestrian landscape architect Robert Jolicoeur said the proposed showgrounds will have 10 show rings, including a grand prix field and derby field, 2200 stalls and a alrge covered arena for night classes. A court decision is awaited on the lawsuit.

UPDATE: FLORIDA LEGISLATURE

PROPERTY TAX – “where it is” on 5-4-07

The Florida Legislature suspended negotiations on Save Our Homes portability, rollbacks and other property tax reform proposals until next month when lawmakers return to Tallahassee for a 10-day special session from June 12-June 22. Both sides have already agreed on two FAR-supported tax relief measures - $25,000 exemption on personal intangible property for small businesses and some form of Save Our Homes portability (terms not released). Sources say that so far there is agreement on cutting property taxes by about $20-$25-billion over 5 years; no sales tax increase; some form of Save our Homes portability.

To write your legislator send an email to http://floridarealtors.org - see Legislative Center.

Legislators made it easier for certain property owners to get insurance from Citizens which is now Florida’s largest insurer with 1.3 million policyholders. Property owners will be allowed into the Citizens pool if the only insurance they could obtain on the private market was 15% more expensive than what they would pay Citizens. Citizens rates would freeze through 2008. On Jan 1, 2009, Citizens would again be allowed to raise rates.

Homes valued at over $750,000 and located in high-risk zones will be required to install opening protections as of July 1, 2008 if they seek a building permit for work estimated at $50,000 or more. By 1/1/2009, all homes valued at over $750,000 in high-risk zones must be fitted wit opening protections to remain eligible for Citizens coverage. This is to help reduce some of the risk in the event of a devastating storm. Free inspections of 400,000 single-family homes is called for and grants and loan are provided to certain homeowners to make improvements to strengthen their home against storms.

Home inspectors, mold remediators and mold assessors will be required to be licensed by the Dept. of Business and Professional Regulation as of July 1, 2010 IF SIGNED BY THE GOVERNOR.

Landlords are limited to a financial penalty when a tenant breaks a lease of two months of rent for leases of less than a year. Effective at once IF THE GOVERNOR SIGNS IT.

Mortgage brokers and lenders will now have many disclosure and education requirements to help protect consumers during the mortgage loan application process. This bill includes additional enforcement and investigative tools for prosecuting mortgage fraud. The definition of “primary title services” and “related title services” will be amended and a civil court case codified that permits a portion of a title insurance premium to be rebated IF SIGNED BY THE GOVERNOR.