Ray Craig

What is Tax Portability?
In 2008 the Florida Constitution was amended to allow "portability" of their accumulated homestead exemption tax savings. A homeowner may "port" their "Save Our Homes" tax benefits to their new home as long as they establish their new homestead within 2 years of abandoning their previous homestead. The max cap difference is limited to $500,000. This portability can be used when buying up or down in value.

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Homestead Tax Discount for Veterans Age 65 or Older with a Combat-Related Disability Must be 65 years old or older on January 1st; must be honorably discharged from military service; and must have a service-connected disability of 10% or higher that is combat related. The discount is equal to the percentage of combat related disability as determined by the U.S. Department of Veteran's Affairs.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage fell to 0.6 point from 0.7 point last week. The fee for a 15-year loan increased to 0.7 point from 0.6 point.