Newswire.net- January 3, 2013- Tampa, Fl- There have been abundant tax breaks that have been offered to many home builders in Tampa, however the local city and county coffers have suffered as a result of these available windows. What is a builder to do whilst they have borne the brunt of the housing bust for the past five years? Between a sputtering economy and a non existent bank lending mentality, the home builders have all but closed up shop and become farmers.
Counties of Hillsborough, Pinellas, and Pasco have seen their revenue base shrink in excess of $100 million dollars from these available tax breaks. The opportunity arose from a 2011 Legislative Law that was passed enabling charitable organizations and nonprofits to capitalize on building complexes with fat tax breaks. Many builders quickly seized the opportunity to form nonprofits and develop properties under these organizational structures and reap the beneficial rewards. Municipalities and government officials have not been as quick to raise their champagne glasses to the rich opportunities.
This is typical when a drastic economic downturn has affected so many in an industry that is so vital to the pulse of the community. When there is an asset that is a significant portion of a homeowner’s net worth that is hampered or impaired, there is generally a knee jerk reaction one way or another that results in an adverse affect upon someone along the way.
History tends to repeat itself and the Tampa home building and luxury home market is no different. These areas enjoy the fruits of happy and prosperous times while hitting the recessionary skids, their vulnerabilities are probably still somewhat less impacted. Luxury communities where disposable income and spending are only a matter of accounting adjustments as opposed to a day to day cash flow squeeze, can sustain a few belt tightening measures. Contact Boger Homes at: (813) 948-2945 for more luxury home and building design ideas in the Tampa Bay market or search them at: http://www.bogerhomes.com
Newswire.net
Source: EmailWire.Com
