School Property Taxes Expected to Increase

School property taxes in Florida are expected to increase 1.3% by next year, signaling an increase in property values. This is one of the most promising signs of recovery in the Florida housing market.

Property appraisers and real estate agents are already seeing signs of improvement in the housing market. Appraisers for the downtown Miami area have seen property values increase over 12% this year over last year and higher income neighborhoods like Coral Gables are already seeing higher property taxes.

Nearly Half of South Florida Homes Underwater

Nearly half of all homes in South Florida were in negative equity, or underwater, after the first quarter of this year.

In Miami, 46.6% of homes were underwater, while the figure was 49.4% in Ft. Lauderdale.

Having negative equity, or being underwater, means that borrower owes more on their mortgage than their home is worth.

NFL Wants $200 Million in Improvements to Sun Life Stadium

When comparing this year's Super Bowl with last year's, it's easy to notice the difference in the weather. At kickoff last year, fans enjoyed 60 degree weather, compared to the freezing temperatures fans in Dallas endured this year. While Miami offers a virtually non-existent winter, the NFL won't be looking to Miami for the upcoming Super Bowls.

The NFL has cited $200 million in improvements that need to be made to Sun Life Stadium if the Dolphins are to host another Super Bowl. These improvements include a canopy to shield fans from rain, an additional 3,500 seats, changes to existing seats, as well as permanent lighting installations for HD broadcasts.

Florida Gets $800 Million for High-Speed Rail

Florida is getting another $800 million in stimulus money to build a high-speed rail from Orlando to Tampa.

The project is estimated to cost $2.6 billion, and the additional $800 million will bring Florida only $300 million away from this estimate.

It is believed that the high-speed railway will help Florida's economy by providing construction and operational jobs, as well as increasing tourism and travel throughout the Central Florida region.

Plans are also in the works of extending the high-speed railway to connect Orlando and Miami.