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r <br />T } Q F 5'J R hxy <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />MEMORANDUM <br />TO: Honorable Mayor and City Commissioners <br />FROM: Jeniffer Viscarra, Commissioner <br />DATE: January 18, 2024 <br />RE: Express Support of Senate Bill 172 Regarding Disabled Veterans' Homesteac <br />Exemption <br />RECOMMENDATION: <br />This Resolution is Presented for your consideration. <br />REASONS: <br />Senate Bill 172 has been filed for consideration during the Florida Legislature's 2024 session b) <br />Senators Tina Polsky and Rosalind Osgood. The bill seeks to create a verification of eligibility for the <br />homestead exemption for certain disabled veterans, which would enhance the home buying <br />capabilities of Florida's disabled veterans. Unfortunately, the current system creates a timing issue for <br />disabled veterans, as they are required to apply for an real estate tax exemption only after taking <br />ownership of their homes, causing temporary financial challenges during the mortgage underwriting <br />process. The bill would rectify this issue by allowing certain disabled veterans to apply for their <br />exemption after entering into a contract to purchase a home, ensuring approval subject to home <br />ownership, thereby eliminating unnecessary hurdles during the mortgage qualification process. <br />ATTACHMENTS: <br />Resolution <br />Item Number: 10.0 <br />341 <br />