Property Tax goes to the ballot
Both the House and Senate passed property tax reform today.
The Florida Legislature passed a trimmed down property tax relief package on Monday that promises the average homeowner a $220 break, putting a constitutional amendment on the Jan. 29 statewide ballot. – Sun-Sentinel
I guess that means that an average of $220 is supposed to make things better for those of us whom are paying thousands.
If you haven’t had a chance to look at what they have passed this is it in the basics.
The Senate package also doubles the $25,000 homestead exemption for homes over $50,000 except for school taxes, which equals out to about an additional $15,000 break for most homeowners. It gives businesses a $25,000 tax break on tangible personal property, including office equipment, and puts a 10 percent annual assessment cap on non-homesteaded properties like those owned by business and snowbirds, although that provision also excludes school taxes.
Now, I know it says they are doubling the exemption. But it also says that it doesn’t exempt for school taxes. Which means that you are really only getting a $15,000 tax break. Businesses will be getting a larger tax break than home owners. Their tax break will be $25,000.
This is not exactly what I expected from our Leadership when they said they would pass a tax reform bill that would help us. I had honestly expected a homestead exemption bill that would be either indexed to inflation or would be increased every few years to take into account inflation. It does not sound like this bill will do this.
Governor Crist was wrong on one account. I am not happy with it.
As it is, expect to be seeing advertising on it here shortly as it will be on the ballot for Jan 29th. Maybe between now and then things will become clear as to what it will do for us.