Mobile home, condominium and timeshare owners in Florida may be surprised to learn that the Legislature has taken $6 million from the state's Division of Condominium, Timeshare and Mobile Home trust fund to help balance this year's budget.
And this transfer of funds is the second time this year that money has been moved from the fund. In January, lawmakers moved $26 million from the same fund to shore up budget shortfalls, according to the Miami Herald.
This year, lawmakers moved moneys from more than 24 trust funds within the state's various state agencies to cover the $6 billion shortfall.
Mobile home, condominium and timeshare owners are required to pay annual fees each year to the fund. Time share owners contribute $2 per seven-day period and are the largest contributors to the fund. Mobile home park owners pay $5 per lot annually, while condominium owners pay $4 per lot each year.
According to the division, 90 percent of the 16,000 phone calls received last year into its office came from Miami-Dade, Broward and Palm Beach counties with the most coming from condominium owners.
Fees for the fund are collected throughout the year. The balance of the trust fund as of May was $9 million; at the end of December 2008 it was $29 million.
And this transfer of funds is the second time this year that money has been moved from the fund. In January, lawmakers moved $26 million from the same fund to shore up budget shortfalls, according to the Miami Herald.
This year, lawmakers moved moneys from more than 24 trust funds within the state's various state agencies to cover the $6 billion shortfall.
Mobile home, condominium and timeshare owners are required to pay annual fees each year to the fund. Time share owners contribute $2 per seven-day period and are the largest contributors to the fund. Mobile home park owners pay $5 per lot annually, while condominium owners pay $4 per lot each year.
According to the division, 90 percent of the 16,000 phone calls received last year into its office came from Miami-Dade, Broward and Palm Beach counties with the most coming from condominium owners.
Fees for the fund are collected throughout the year. The balance of the trust fund as of May was $9 million; at the end of December 2008 it was $29 million.
--By Charity Cicardo, Vice President of FCSG
No comments:
Post a Comment