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Jenny just purchased a commercial building. She would love to receive the homestead exemption and homestead cap on the increase in value on the...
1. Jenny just purchased a commercial building. She would love to receive the homestead exemption and homestead cap on the increase in value on the building. (a) Will Jenny be able to obtain the homestead exemption on this property? (b) Why or why not? (c) Is there a cap on how much property taxes may rise on non-homesteaded property? (d) If so what is it?
2- If you own property in another jurisdiction (other than Miami Dade County) - please identify the law and entities that regulate the tax and appraisal process in your location
3- Explain why you think the property tax process (including property valuation, tax notification and appeal) is so regulated by statute?
4- Explain the public policy (rational) behind the homestead exemption (and other exemptions).
5 - Explain what property taxes have to do with John Locke's theory of the social contract? (reference specific sections of Locke)
6- Explain why it is or is not important to understand property taxes, the property tax process and the property tax cycle in a jurisdiction where you own or plan to own property.
