Despite Amendment 1, Floridians still trapped
Gov. Charlie Crist and a throng of supporters packed the lawn of Keith and Elizabeth Markowitz's Orlando home to launch the Amendment 1 property tax campaign last year with a promise: If the referendum passed, they would no longer be "trapped in their homes."
A year later, the amendment has overwhelmingly passed, and the Markowitzes are still trapped — now, by the plunging real estate market.
"We are still anxious to move, but we haven't sold our house," said Keith Markowitz, who took his house off the market after 16 months. "I've got too many foreclosures around me."
He had hoped to sell the three-bedroom home, use the tax savings from the new law to move to the Panhandle, where they would build a more energy-efficient house. But as they've waited for the market to return, their property value has dropped from $300,000 in 2007 to $230,000 last year. (story here)