Florida Real Estate Taxes Retain Dual-Class System


If you live in the state of Florida, you pay taxes on your home according to a dual-class tax system. There's one type of tax system for those who live in Florida as their primary residence and another for those who live there part-time or own vacation property. And it's a good thing, too: Considering the rocky Florida real estate market, those who stick it out year after year deserve a break.

Recently, the state's Supreme Court refused to hear a challenge to this system, which means the appeals court decision that ruled this dual-tax system constitutional will stand. The dual-tax system became law after a constitutional amendment called "Save Our Homes" passed in 1992 and took effect in 1995.