Several days ago, I read Robin Benedick's article on the Save Our Homes amendment and then a letter to the editor by a condo owner in Pompano Beach. The original intent of the Homestead Law, to protect homeowners from being literally taxed out of their homes, has been totally adulterated.

As a mortgage professional, I see the effects of the law every day. Unfortunately, two things happen when real estate taxes are assessed every year. First, assuming no purchase and the limitations of the law, your tax assessment will be limited to a raise no greater than 3 percent.

Second, however, this does not limit the taxing authorities from raising their piece of your pie by up to 10 percent of their previous year's tax. In simple language, the politicos have the ability to double your taxes every six years.

When is enough, enough? The taxing authorities -- water district, schools, towns and cities, etc. -- are effectively doing the one thing that homestead was enacted to prevent.

While there has been much refurbishment of homes in Broward County, many homes have been bought and rebuilt. A home that was built in the 1960s, for example, might have an assessment of $200,000 or $300,000. If, however, this home is torn down and rebuilt to today's standards, the cost, including the lot, might be as much as $800,000 or $900,000. This creates a new assessment of $800,000 or $900,000.

While an argument can be made for inflation, there is no realistic expectation that wages or earnings have tripled in the same period. Hence, many people are being prevented from moving or are being taxed out of their homes.

In conclusion, the real estate tax structure gives the politicos a blank check to escalate their budgets with no regard to the people who are paying them. I queried the governor as to why he wouldn't support a doubling of the homestead exemption and was told "because it would create havoc with local authorities." If citizens must live within reasonable budgets, why can't the local authorities? Must every politician have a $120,000 salary?

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