Florida Exodus: Rising Taxes Drive Out Residents

[E_]

Whats up RE3

http://news.yahoo.com/s/time/20090903/u ... 9191991600

There are many things public officials probably shouldn't do during a severe recession, but no one seems to have told the leaders in Florida about them. One thing, for instance, would be giving a dozen top aides hefty raises while urging a rise in property taxes, as the mayor of Miami-Dade County recently did. Or jacking up already exorbitant hurricane-insurance premiums, as Florida's government-run property insurer just did. Or sending an army of highly paid lobbyists to push for a steep hike in electricity rates, as South Florida's public utility is doing.

http://news.yahoo.com/s/time/20090903/u ... 9191991600

[$parechange]

I can tell you my thoughts in 10 words!

Politicions are "low life, arrigant, crooked, scum sucking, no good MO FO"S"

[E_]

wait, is MO FOs one word or two?

[katie]

wait, is MO FOs one word or two?

mmmmm TWO!

[$parechange]

It's two WORKS!!!!

[re3too]

The headlines are somewhat misleading. The exodus is not as severe as it sounds. Two main problems...1) overinflated real estate prices fueled by irresponsible lenders (and buyers) lead to a bubble that had to burst. As $pare said, govt. officials got greedy about the windfall in taxes caused by the overly inflated property values, then could not (or would not) adjust their budgets once their income was reduced due to falling prices, foreclosures, etc. 2) insurance companies were allowed to cherrypick what and where they would sell insurance in the state after the last two active hurricane seasons. Many longtime policy holders were dropped (even though they had no claims) and thus the state-run program came into effect. The legislature doesn't have the kahunas to tell the big boys to either insure all (home, auto, etc.) or get the HE$$ outta the state.

Many counties in FL have made the necessary adjustments in their budgets (FYI - Miami is not really a part of the State of FL). The insurance companies are a mixed bag. We currently own 2 homes in FL. Allstate (who had our KY home and car ins.in KY) is one of the cherrypickers and would not insure our condo nor our first house in FL. Both with the condo and our first house we had to go into the state run program (more expensive) until someone bought the policy. The last house we bought we had to again go into the state run until I found a company for the second year. In the meantime, our first house (which is for sale) is with a private company who said they will drop us at the end of the policy year becuase we are not living in the home. Guess it's all a part of living in sunny FL during the long, cold winters...