Page 8 - Palm City Spotlight - January '20

Page 8, Palm City Spotlight

estate planning

Florida Homestead Tax of the Save Our Homes credit with the property appraiser the previous year plus an amount to cover the following
Savings Are Wonderful, Rules in the county where the new house is located. The year’s taxes.
This can cause a really big financial burden on the
homeowner has only two years to claim portability of
Can Be Tricky their Save Our Homes credit. buyer in year two and three after closing. That is why
Buyers need to be savvy about real estate taxes and
it is important to understand the real estate taxes before
not assume property taxes will be the same for the year you buy.
By Carrie Lavargna after closing. If the present homeowner has homestead Once a homeowner has homestead exemption, any
Fl o ri d a h om e st e a d exemption his or her taxes are assessed based upon the fair change in title can affect homestead status. Seniors
exemption laws save market value reduced by the Save Our Homes credit, the like to put children on title to their house so it passes
homeowners a lot of homestead exemption and any other exemptions claimed, automatically to the children upon death. Seems innocent
money in property taxes. such as VA disability or low income senior. enough but this small change if not done correctly can
Homeowners must apply Recording any deed requires the property appraiser to cause loss or reduction of homestead exemption and Save
for homestead and other re-examine the property taxes. Our Homes credit.
exemptions by Feb. 28 Once the deed to the buyer is recorded, the property Putting your homestead into a trust can be a good estate
of the year following appraiser will be reassessed the property as of the planning technique; however, the property owner may
purchase. In the first year following Jan. 1 at current fair market value, and seller’s have to reapply for the homestead exemption so that the
of homestead exemption, Save Our Homes credit, homestead exemption and other property appraiser can review the trust to make sure the
the homeowner saves an credits are removed. special language preserving the homestead exemption is
average of $400 to $600 in Buyer’s taxes can skyrocket the year after closing. included in the trust.
property taxes. Buyer’s mortgage company generally escrows for real Remember the recording of any deed can affect your
It gets better because the “Save Our Homes” law estate taxes, collecting one-twelfth of the annual taxes homestead exemption.
provides that the assessed value of the homestead cannot as of closing to the buyer’s monthly mortgage payments. This column is an overview of the subject matter and
increase annually by more than 3 percent or the Consumer This escrow is so the mortgage company has the funds to is not intended as legal advice. Carrie Lavargna is an
Price Index (CPI). Each year the Save Our Homes credit pay next year’s real estate taxes. If the buyer’s taxes for attorney practicing law in Stuart at Lavargna Law, PLLC
accumulates and over time and as property values increase the year after closing are more than the previous year’s and is board certified in real estate law by The Florida
homeowners save thousands in real estate taxes. taxes, the mortgage company’s escrowed funds may be Bar and is designated an accredited estate planner
When a Florida homeowner moves to another home in insufficient to pay the buyer’s higher taxes. (AEP) by the National Association of Estate Planners
the state they can take their Save Our Homes accumulated The mortgage company will pay the taxes but then and Councils.
credit with them to the new house. It’s not automatic and the buyer’s tax escrow will be increased to reimburse
the homeowner must apply for homestead and portability the mortgage company for the shortfall in taxes from

tip oF tHe tail

All About Guinea Pigs wire-sided cages with solid bottoms. There should be issues with your veterinarian to make sure you are on the
enough space in the enclosure for the pet to move around right track.
unencumbered with an area for a hide box. A hide box Common guinea pig diseases:
reduces stress that can lead to disease problems. Diarrhea caused by an imbalance in gastrointestinal
Cedar and pine shavings should not be used as they bacteria. This can be caused by stress or an abrupt change
cause skin irritation and respiratory problems. Aspen in diet.
shavings, recycled newspaper products and shredded Guinea pigs have continuously growing teeth. They
paper make good bedding and floor cushions. The bedding must be aligned properly to make sure they are being worn
and enclosure should be cleaned two times a week to down. If the alignment is off, the teeth will overgrow.
prevent foot infections and respiratory issues. Sipper Overgrowth of the teeth will prevent pets from eating.
bottles work well for water and heavy food bowls should Inadequate Vitamin C intake can lead to hypovitaminosis
be used to prevent tipping. C resulting in lameness, bleeding, lethargy, loss of
Diet: Feed a formulated pelleted diet made for guinea appetite, poor hair coat and teeth grinding.
pigs along with timothy hay and fresh vegetables. The hay Bladder stones can form due to high calcium diets
should be available for pets at all times. Limit pelleted leading to urinary obstruction.
diet as guinea pigs will become obese if primarily eating Upper respiratory infections due to Streptococcus
pellets. Fruits should be limited to treats only or less than pneumonia are common leading to ear infections, eye
Have you ever thought about getting a guinea pig for 10 percent of their overall diet. discharge and pneumonia.
a pet? Guinea pigs can be a lot of fun since they have Guinea pigs are unable to make vitamin C on their Other common issues include mites, foot infections
distinct personalities. They can be very talkative and love own so should be given Vitamin C supplementation. and ringworm.
to interact with their humans. If you are considering it, One-quarter orange per day will provide enough Vitamin Established in 1981, Palm City Animal Medical
here are a few things you should know. C but a Vitamin C supplement tablet is made for guinea Center is dedicated to providing the best possible care
Guinea pigs are native to mountainous regions of South pigs that can be offered daily. Dark leafy greens contain for your pets. With focuses on compassionate care in
America where they were domesticated as long as 3,000 Vitamin C as well. surgery, physical therapy and rehabilitation, preventative
years ago. They live in small groups in the wild and are Wellness exams: Guinea pigs are not vaccinated for medicine, extensive diagnostics, and emergency service,
often more comfortable in the presence of other guinea infectious diseases in the United States. An annual exam Palm City Animal Medical Center combines exceptional
pigs. For this reason, It may be a good idea to have at with the veterinarian is very important. Guinea pigs medical care with a caring philosophy for pets and their
least two at a time as pets. There are many varieties. The are adept at hiding illness since they are prey animals. owners. For more information, call (772) 283-0920, visit
American, Teddy and Abyssinian are most common. The An annual exam may help in detecting abnormalities www.palmcityanimalmedicalcenter.com or find us on
average lifespan of the guinea pig is five to seven years. earlier. Many health problems in guinea pigs are related Facebook at www.facebook.com/PalmCityAnimalClinic.
Housing: Guinea pigs should be kept in well-ventilated, to improper housing and diet so be sure to go over these

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