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Two Florida lawmakers blame insurance companies — not new state law — for helping to fuel a condo crisis that has hit owners with rising fees and assessments in high-rise buildings.
Home prices in Florida have increased 67% since 2020 and homeowners insurance was up 42% ... but the assessment was driving down property values in the building. A unit similar to the one Stone ...
About 90% of all insurance claims are settled without escalating into a court fight, said Charles Nyce, a professor of risk management and insurance at Florida State University’s College of ...
Enter the Florida Legislature, which passed a slew of reforms in December 2022 to crack down on litigation costs and limit the state's involvement in the property insurance market, including a ban ...
Buildings are subject to many different risks while under construction. They may catch fire, be damaged by high winds, or fall victim to other force majeure.A principle of common law is that any new construction or other improvement to land becomes property of the owner of the land – the title holder – once there has been an "improvement" to the owner's site.
Data from Citizens, the state-chartered property insurer of last resort for homeowners who can’t find coverage in Florida’s shaky home insurance market, show the company dropped 2,267 policies ...
Florida property tax homestead exemption reduces the value of a home for assessment of property taxes by $50,000, so a home that was actually worth $100,000 would be taxed as though it was worth only $50,000. However, the second $25,000 of homestead coverage does not apply to the school portion of property taxes, and only applies to the third ...
The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [32]