Sale prices no longer reported

[JamieWest]

Apparantly, the Governor has signed a bill, effective July 1, 2008, that eliminates the reporting of sale prices to county property appraisers. Have any of you heard about this?

 

[Alison Swain]

Apparantly, the Governor has signed a bill, effective July 1, 2008, that eliminates the reporting of sale prices to county property appraisers. Have any of you heard about this?

What is your source?

 

[Dan/Fla]

What about the Sunshine Law, main reason you can not with hold who you are even when you win 000,000,000 in the Lottery.

I have not heard this but I have trouble why they would do this. The Florida goverment wants RE market back and this would hurt the market not help. Banks will not loan if they can not get and believe values

 

[JamieWest]

I heard about this from a reliable source and spent some time on the Department of Revenue's (DOR) website for details, found nothing and thought surely someone here would know about it. The lack of response here had me questioning the whole thing. So I googled the web and found the following news story. After reading the news story, I searched DOR by the form number and found this tidbit:

http://dor.myflorida.com/dor/tips/tip08b04-01.html



Friday, May 16, 2008

Under new state law, property sale information will be harder to get
South Florida Business Journal - by Brian Bandell

The Broward County attorney's office is drafting an ordinance to make price disclosure mandatory for property sales because a state law would eliminate that requirement on June 1.

Without the form used to supply this information, it would be harder for the public to view the price of property sales, according to representatives from the county clerk and property appraiser's offices. Jack McCabe, president of Deerfield Beach-based McCabe Research & Consulting, said losing readily accessible sales data would stifle research of Florida's real estate market. Buyers and sellers would lose the information that has empowered their decision-making, he said.

Since 1986, the Florida Department of Revenue has required that a DR-219 form be filed, with the buyer or seller listing a sales price when a deed on a property is transferred. The state stopped processing these forms on July 1, 2007, because it did not believe the information included was reliable. At the DOR's urging, Gov. Charlie Crist signed a law on April 22 that will eliminate this form as of June 1.

 

[MBD]

Would we still be able to determine the sale prices based on the doc stamps recorded?

 

[nauthead]

MBD is correct-doc stamps are part of public record. You just have to reverse the stamps.

 

[Ken B]

Consideration is reported on the deeds. Why not have the Clerk of the Court report transfer data to the county property appraiser's office? Is that too simple?

 

[Dennis J. Black ASA IFAS]

MBD is right.

 

[Howard Klahr]

Unless the doc stamp amount is overstated, which does occur from time to time to disguise the actual sale price. You need to verify your comp data.

 

[Joyce Potts]

Unless the doc stamp amount is overstated, which does occur from time to time to disguise the actual sale price. You need to verify your comp data.

Many are over reported anyway because of built-in concessions that only show on the HUD-1.