August 31, 2007Commercial Real Estate Index continues riseA forward-looking index for the commercial real estate market recorded its ninth consecutive improvement in the second quarter, according to the National Association of Realtors® (NAR). The Commercial Leading Indicator for Brokerage Activity rose 0.5 percent to an index of 120.7 in the second quarter, the highest on record, from a downwardly revised reading of 120.1 in the first quarter, and is 1.1 percent higher than the second quarter of 2006 when it stood at 119.7. Commercial Real Estate Index continues riseA forward-looking index for the commercial real estate market recorded its ninth consecutive improvement in the second quarter, according to the National Association of Realtors® (NAR). The Commercial Leading Indicator for Brokerage Activity rose 0.5 percent to an index of 120.7 in the second quarter, the highest on record, from a downwardly revised reading of 120.1 in the first quarter, and is 1.1 percent higher than the second quarter of 2006 when it stood at 119.7. August 30, 2007Homestead no protection against tax increases this yearFlorida homes have a market value (estimate of worth) and an assessed value (basis for property tax calculations). An owner’s assessed value, at first, should be market value minus $25,000, the homestead exemption and the local government applies its tax (millage) rate to that number. But Save Our Homes also impacts assessed value by capping it at a maximum 3 percent yearly increase. However, that cap is a yearly tool and applies anytime assessed value is below market value (minus $25,000). And for many of the state’s long-time homeowners, assessed value is significantly less than market value (minus $25,000). These owners will still see a tax increase this year, even if their market value of their home declines, as long as there is a gap between the just market value and assessed value of their home. In addition, SOH applies only to assessed values. If a local government opts to increase millage rates, property taxes for homesteaded homeowners would also go up. For more information, visit the Florida Department of Revenue Web site at: http://dor.myflorida.com/ August 29, 2007Governor Christ Confident of Florida GrowthOn August 23, 2007 Florida State Governor Charlie Crist spoke to more than 800 Florida Realtors at the 2007 Florida Association of Realtors (FAR) Convention & Trade Expo, thanking them for their leadership in supporting property tax reform efforts and urging them to spread the word to family, friends, neighbors, customers and throughout their communities to vote “Yes” on Jan. 29 for the proposed constitutional amendment. The governor addressed the critical issues of property tax reform and property insurance relief to the receptive Realtor audience. “I believe these two issues are the key to rejuvenating our economy,” Crist said. “So the future is bright,” said Governor Crist. “It is. I’ve been to places where the future is not as bright as it is here. Florida is a special place. One thousand people every single day are making that choice [to come here]. They’re flooding the state. She’s on the rise, and it’s all because of the people.” August 28, 2007County has lowest cost of livingBROOKSVILLE — Hernando County boasts the lowest cost of living among the counties in the Tampa Bay metropolitan region. In a report issued by the Florida Dep-artment of Education (FDE), Hernando County beat out Pasco, Hillsborough, Pinellas, Manatee, Polk and Sarasota counties in several key cost of living indexes, including home prices and transportation. The FDE prepared the report as part of its funding models it supplies to the state. Michael McHugh, director of the Hernando County Office of Business Development, said affordable housing, a good transportation system and quality of life issues are driving factors in recruiting new business. “If your employees can’t afford to live here, then very likely the business isn’t going to move here,” McHugh said. There is no disputing the raw numbers that are available, he said. “It’s part of who we are and we want to represent that accurately,” McHugh said. The cost of living price index was based on a statewide average of 100. The higher a county goes above the 100 range, generally the more expensive the average cost of living. Conversely, the lower the number, the more affordable. According to the statistics, Hernando County scored a 92.34 average. Breaking it down further, Hernando County in 2005 scored an 84.6 in housing, 95.4 in health care, 96.1 in transportation and 96.9 in other goods and services. The only area that Hernando County scored higher than the state was a 103.6, and that was in the cost of food. County Commissioner Rose Rocco said every county in the state is having problems with high taxes and budget crunches. So she said this kind of news comes as a welcome breath of fresh air. “When you start putting Hernando County in a match with other counties, I think we look pretty good,” she said. The Office of Business Development has issued a fact sheet listing other key statistics of Hernando County. Here are some highlights: • More than 15,000 people travel outside the county to other areas of Tampa Bay to get to work. • The county has more than 165,000 people with a median age of 49. • Hernando County is home to four high schools, including a $40 million technical school specializing in manufacturing, technology, graphic arts, health care and culinary arts. • Prospective employers have a variety of locations to set up show, including the Hernando County Airport Industrial Park, a Corporate AirPark and Rail park, One Hernando Center, Cortez Crossings and various small and large tracts of land. By MICHAEL D. BATES mbates@hernandotoday.com August 27, 2007New Home Sales IncreaseAs reported by the Florida Association of REALTORS, the Commerce Department reported Friday that new-home sales rose 2.8 percent in July, after falling 4 percent in June. The increase in July lifted sales to a seasonally adjusted annual rate of 870,000 units. August 10, 2007Veteran ServicesThe Hernando County Veteran Services Department has announced that a Veteran Services Officer will be available from 8:00am till 5:00pm every Thursday at the Career central office, located at 7631 Forest Oaks Blvd, Spring Hill. For more information call 352-754-4033 August 9, 2007OPERATION BACKPACKThe “Friends of the Children” a non profit organization, is sponsoring this year’s Operation Backpack. It will be held from 10:00am to 2:00pm Saturday August 11 at the Jerome Brown Community Center, across from Tom Varn Park at 99 Jerome Brown Place. Backpacks and school supplies will be given away to students in kindergarten through eighth grade. There will be one backpack per child, who must be accompanied by an adult. For information, call 352-544-5498. The goal this year is to provide 2,000 free backpacks to local students. August 8, 2007Home Ownership AcademyThe Hernando Builders Association is gearing up for its Home Ownership Academy, which is scheduled to begin Wed August 29 at the HBA headquarters, located at 7391 Sunshine Grove Road, Brooksville. There will be a total of five sessions Aug 29, Sept 5, Sept 12, Sept 19, and Sept 26. Each session will cover a range of topics, including downsizing and expanding, hurricane preparedness, remodeling and warranties. The sessions will last from 5:30 to 7:30pm. The registration deadline is Aug 22. For more information, call Emilia Raia at 352-596-1114 or email at Emilia@Hernando Builders.com. August 6, 2007Chamber Offers Marketing OpportunityThe Greater Hernando Chamber of Commerce is offering any local business interested in marketing itself to the local business community a table-top space at any of the upcoming monthly breakfast meetings. The cost for the space is $50. For more information, call Carla Hayes at 352-796-0687, Ext. 15, or email at Carla@hernandochamber.com. |
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