$50M homes
Article Published: Saturday, October 2nd, 2010
<span style="font-weight: bold">• Three Cabinet ministers buy houses in Miami</span>
Not only do some members of Parliament enjoy being citizens of the United States but also like some members of the business class, they appear to have acquired the taste for owning homes in Miami and other United States cities. Some might say they are putting themselves in positions similar to several Third World politicians who own properties in North America and Europe.
<span style="font-weight: bold">
At least three Cabinet ministers have acquired properties in Miami valued at over $50 million and two of them have done so since the Jamaica Labour Party (JLP) took power in 2007</span>.
<span style="font-weight: bold">Finance minister Audley Shaw and information minister Daryl Vaz bought their houses since the JLP was voted into office in 2007 while their colleague James Robertson acquired his in 2003 and 1999.</span>
The Robertsons are listed as owners of NW 21 Court Pembroke Pines in Broward County, Florida and another house at 6864 NW 109 Avenue, Miami, Florida 33178-3729 which was purchased in June 1999 for US $189,300.00. The Pembroke Pines property was acquired in January 2003 at cost of US$219,400 or J$18.6 million. The couple secured a US$175,400 mortgage through BAC Florida Bank at 169 Miracle Mile 12-10, 8th Floor, Coral Gables Florida 33134.
The records show that Ministr Shaw purchased his condo unit located at 13951 SW 66 Street, Miami, Florida for US$123,000 or J$10.5 million in February this year. It was not ascertained if he paid cash or if he had secured a mortgage on the property.
Information Minister Daryl Vaz bought his property situated at 3171 Way, Miramar, Florida in Broward County in May this year for US$315,000 or just over J$27 million. Like Minister Robertson, Minister Vaz obtained a mortgage from BAC Florida Bank for US$220,500.
<span style="font-weight: bold">Earlier this year, news surfaced that Minister Vaz’s wife acquired a swanky Cherry Gardens property, which was part of the FINSAC debt portfolio, for J$45 million</span>.
Homestead exemption It was noted that both Shaw and Vaz are apparently beneficiaries of tax exemptions called Homestead Exemption.
<span style="font-weight: bold">Homestead Exemptions are only granted to US citizens or permanent residents of the State of Florida.</span>
State law allows Florida homeowners to claim up to US$50,000 homestead exemptions on their primary residence. The first US$25,000 of this exemption applies to all taxing authorities, while the second US$25,000 excludes school board taxes and applies to properties with assessed values greater than US$50,000. To qualify for homestead exemption, the applicant must own the property and it must be his or her permanent residence as of January 1 of the year the application was made. Proof of ownership can either be a warranty deed, property tax bill among other things.
Under state law, an applicant must produce evidence of the location where the applicant’s dependent children are registered for school, proof of voter registration in the state, or a valid Florida driver’s licence issued under Florida Statute 322.18 or a valid Florida identification card among other requirements.
Non-citizens must present one of the following for proof of US residency — permanent residence card, popularly called green card, passport with 1-551 stamp or proof of parolee status pursuant to 212 (d) (5). Efforts to find out if Minister James Robertson had declared the two properties in which he and his wife are registered as owners to the Parliamentary Integrity Commission were unsuccessful. The acquisition of these properties is an area, which needs thorough investigation by the Parliamentary Integrity Commission, and their findings ought to be made public.
Article Published: Saturday, October 2nd, 2010
<span style="font-weight: bold">• Three Cabinet ministers buy houses in Miami</span>
Not only do some members of Parliament enjoy being citizens of the United States but also like some members of the business class, they appear to have acquired the taste for owning homes in Miami and other United States cities. Some might say they are putting themselves in positions similar to several Third World politicians who own properties in North America and Europe.
<span style="font-weight: bold">
At least three Cabinet ministers have acquired properties in Miami valued at over $50 million and two of them have done so since the Jamaica Labour Party (JLP) took power in 2007</span>.
<span style="font-weight: bold">Finance minister Audley Shaw and information minister Daryl Vaz bought their houses since the JLP was voted into office in 2007 while their colleague James Robertson acquired his in 2003 and 1999.</span>
The Robertsons are listed as owners of NW 21 Court Pembroke Pines in Broward County, Florida and another house at 6864 NW 109 Avenue, Miami, Florida 33178-3729 which was purchased in June 1999 for US $189,300.00. The Pembroke Pines property was acquired in January 2003 at cost of US$219,400 or J$18.6 million. The couple secured a US$175,400 mortgage through BAC Florida Bank at 169 Miracle Mile 12-10, 8th Floor, Coral Gables Florida 33134.
The records show that Ministr Shaw purchased his condo unit located at 13951 SW 66 Street, Miami, Florida for US$123,000 or J$10.5 million in February this year. It was not ascertained if he paid cash or if he had secured a mortgage on the property.
Information Minister Daryl Vaz bought his property situated at 3171 Way, Miramar, Florida in Broward County in May this year for US$315,000 or just over J$27 million. Like Minister Robertson, Minister Vaz obtained a mortgage from BAC Florida Bank for US$220,500.
<span style="font-weight: bold">Earlier this year, news surfaced that Minister Vaz’s wife acquired a swanky Cherry Gardens property, which was part of the FINSAC debt portfolio, for J$45 million</span>.
Homestead exemption It was noted that both Shaw and Vaz are apparently beneficiaries of tax exemptions called Homestead Exemption.
<span style="font-weight: bold">Homestead Exemptions are only granted to US citizens or permanent residents of the State of Florida.</span>
State law allows Florida homeowners to claim up to US$50,000 homestead exemptions on their primary residence. The first US$25,000 of this exemption applies to all taxing authorities, while the second US$25,000 excludes school board taxes and applies to properties with assessed values greater than US$50,000. To qualify for homestead exemption, the applicant must own the property and it must be his or her permanent residence as of January 1 of the year the application was made. Proof of ownership can either be a warranty deed, property tax bill among other things.
Under state law, an applicant must produce evidence of the location where the applicant’s dependent children are registered for school, proof of voter registration in the state, or a valid Florida driver’s licence issued under Florida Statute 322.18 or a valid Florida identification card among other requirements.
Non-citizens must present one of the following for proof of US residency — permanent residence card, popularly called green card, passport with 1-551 stamp or proof of parolee status pursuant to 212 (d) (5). Efforts to find out if Minister James Robertson had declared the two properties in which he and his wife are registered as owners to the Parliamentary Integrity Commission were unsuccessful. The acquisition of these properties is an area, which needs thorough investigation by the Parliamentary Integrity Commission, and their findings ought to be made public.
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