DID YOUR PRELIMINARY PROPERTY TAX BILL GO UP?

While local headlines SCREAM that Florida properties were devalued even more this year (did I hear 18%?), the property taxes, inexplicably, are going UP UP AND AWAY. Appeals to the county’s Value Adjustment Board by angry taxpayers for their 2009 property tax bills are expected to climb, perhaps by over 20% up from 13,200 appeals in 2008, challenging property assessments and homestead and tax exemption classifications. Petitions can be file online or in person at 301 N. Olive Avenue, West Palm Beach, until September 14th, and there is a $15 filing fee. For more information call the Clerk and Comptroller's office at (561) 355- 6289. The Clerks office says that while the increase in appeals may be due to the economic downturn, a state law has changed requiring the property appraisers office to prove their assessments are accurate. In the past the property owner had to prove the assessment was wrong. Special magistrates must be hired to settle disputes between property owners and the county property appraisers office. Responsibility for processing petitions and scheduling hearings lies with the Clerks office. Preliminary tax notices were mailed Friday to all county property owners.

POLO CLUB ACTIVITIES UPDATES…

Coming to the LABOR DAY COOKOUT? What a choice of foods… soups and salad bar, Polo’s famous BBQ Baby Back Ribs, Broiled Atlantic Salmon, BBQ Chicken, Beef Hot Dogs, Grilled Serloin Burgers, Desserts GALORE. $19.95 per adult; $10,95 per child. Lobster and NY Strip Steak available for additional charge. Get your reservation in now for Sunday, September 6th! Call 561-995-1105. Here’s your chance to brush up on BALLROOM DANCING… foxtrot, waltz, rhumba, tango and chacha… be sure to wear dance clothing and comfortable shoes. Tuesdays 7-8 pm in Aerobic Studio One-$10 per person per lesson. POLO PUB ENTERTAINMENT 9-11 Saturday, September 5^th. Every Thursday in September, “2 CAN DINE FOR $32” – al la carte menu available too. Special Price at the Spa for REFLEXOLOGY… reduce stress, open energy paths and soothe the soul… $42.50.

NEXT IN OUR
BILLY WILDER FESTIVAL:

LOST WEEKEND

Starring RAY MILLAND,
JANE WYMAN


Laurels

Thursday, August 27 at 7 pm

Join Us for another

BILLY WILDER CLASSIC FILM NOIR

Cynial, Witty, a THRILLER!

Thursday, August 21^st at 7 pm

In Laurels

DOUBLE INDEMNITY

Starring Barbara Stanwyck, Fred MacMurray

Edward G. Robinson

MURDER, MAYHEM… this is one NOT TO MISS!

STIMULUS PACKAGE’S FIRST TIME HOME BUYERS TAX CREDIT MAY BE EXPANDED

The $8000 tax credit for new buyers using FHA-insured loans can be used for additional down payment funds or towards closing costs, and is set to expire November 30^th. It has been very popular among first time home buyers to the extent of recent home sales to 1^st time home buyers are estimated to be 40% of the market. There is talk from Senate and Congress of:

· extending the tax credit by the end of the year

· raising the tax credit to 15% or 10% of the home’s purchase price, whichever is lower

· removing income restrictions (currently available only to households making $75,000 or less)

· extending tax credit to ALL home purchasers, not just first-timers

· Estimates are that just upping the credit to $15000 would lead to 400,000 more home sales

Foreclosures weighing down many markets would be sold and absorbed. Let’s see if these ideas are passed and implemented.

GUESS HOW MANY 100-YEAR OLDS THERE ARE EXPECTED TO BE IN 2050?

The Wellness and Memory Class at FAU shows and tells how to increase your life span, and that includes dancing, lack of stress, proper eating and other factors. Your editor recently attended this very informative course and highly recommends it. For more information contact Anna Lisa Curtis at brainsgain@aol.com.

A 10-month pilot program conducted by AARP in Minnesota includes getting around the city by bike or foot, developing social networks and providing healthier fast-food options, to extend the life span of residents by 2 years.

New medical advances, improved diets and aggressive medical treatments are changing the definition of “old”. By midcentury, the projection is that the world’s population of centenarians may reach nearly 6,000,000 creating a median age of 50 in many developed nations, with the Census Bureau reporting there are now 340,000 centenarians worldwide.

New needs will be created, such as more nursing homes, assisted living facilities and special needs housing. Reconsideration will be needed to reevaluate retirement benefits, for the age limits on driving, and perhaps a revamping of Medicare coverage, which is already straining. With declining birth rates, fewer family members will be there to provide support for a sick elderly parent. Consider this: in 2017 there will be more 65-year olds than children under the age of 5. Obesity in the US from a sedentary life or overeating can take a toll on life expectancy.

If the new health care plan passes, how will it affect the life spans predicted above?

FORBES SAYS DUE TO INVENTORIES, HERE ARE THE 10 BEST CONDO MARKETS RIGHT NOW AND THEIR ZIP CODES

1. Olympic Village, Calif., 96146

2. Tahoe City, Calif., 96145

3. Terra Linda, Calif., 94903

4. Fisher Island, Fla., 33109

5. Dallas, Texas, 75205

6. Malibu, Calif., 90265

7. Bal Harbour Fla., 33154

8. Key Biscayne, Fla., 33149

9. Lake Forest, Ill., 60045

10. New York City (Upper West Side), 10069

FAR REPORTS CLIMB IN LUXURY HOME SALES

The pace of luxury home sales has picked up according to the Florida Association of Realtors.

... More lenders are willing to make jumbo loans for mortgages (Jumbo Loans are defined as more than $432,750 in south Florida)

... Foreign buyers are renewing their interest in buying, coming looking for waterfront palaces on sale

... Values in south Florida are seen as depressed and borrowers in the super luxury home market are seen as a very unlikely default candidate.

... First-rate properties are selling for 25% less now and attracting interest, sometimes with multiple offers.

Heftier down payments are now required, some up to 50% of the purchase price, and stringent verification of income and assets, though many in the ultra-luxury category ($5,000,000+) do not finance.

Luxury prices hold up better in downturns and take less of a hit, and usually are first to recover.

In July 2009, two ultra-luxury properties sold in Palm Beach County, a Manalapan estate reaching from ocean to ICW with boat dock for yacht on ICW, 5 bedrooms, 6 baths, 11,000 living sq ft sold for $9,475,000, listed for $11,000,000, on market 144 days. One other such property, a Highland Beach Ocean Place oceanfront estate with 6 bedrooms, 8 full and 2 half baths, 9,525 living sq ft, sold for $5,750,000, listed for $6,900,000, on market for 273 days. 48 homes sold in July 2009 in Palm Beach County between $1,000,000 and $4,999,000.

Since January 1, 2009, 3 homes in Polo Club have sold for between $1,100,000 and $1,885,000.

SUMMER ART WORKSHOPS for YEAR ‘ROUNDERS by CULTURAL ARTS COMMITTEE

Polo offers art workshops STARTING AT 10 AM. Classes limited to first 20 to sign up. Call Admin office at 995-1200 to reserve.

Wednesday, August 12: Artist Chris Burlini will discuss his journey to becoming a fine artist and all attendees will be given the change to create a mini-painting of their own.

Wednesday, September 9: Artist Eydi Lampasona will create a collage/mixed media painting by demonstrating the principles and elements of design.

MOVIE OF THE WEEK

SUNSET BOULEVARD

Starring
Gloria Swanson
William Holden

Directed by
Billy Wilder

1950 American Film Noir

7 pm in LAURELS