Trapped homeowners might get an escape valve

Published February 19, 2006

The real-estate boom has made plenty of South Florida homeowners rich on paper, but many also have become prisoners to their good fortune.

"I hear it all the time," said Christine Hansen, president-elect of the Realtor Association of Greater Fort Lauderdale. "People say they're trapped in their current homes.

"That's because a move within the area would trigger huge tax hikes for those now protected by homestead exemptions and the Save Our Homes amendment, which limits the rise in taxable value to 3 percent a year. READ MORE