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FLORIDA PROPERTY TAXES REVISITED ?

November 30th, 2007 8:50 PM

Over the past month, I have read numerous articles explaining the "Property Tax Amendment" which is to be placed on the January 29, 2008 ballot (presidential primary). As most of you know, the Florida House joined the Florida Senate on October 29, 2007 in approving a package of property tax reforms, as a proposed constitutional amendment. Governor Christ signed into law the bill that would implement property tax cuts if voters approve the " proposed constitutional amendment " . This proposed constitutional amendment consists of four parts: 1) increase homestead exemption 2) allow for a measure of portability for the Save Our Homes benefit 3) provide a Tangible Personal Property Exemption 4) provide an assessment cap for non-hometead property. I am not planning to address each of these items in detail since there has been so much information published, both on the internet and in the print media. HOWEVER, I did want to make you aware of the current Taxation and Budget Reform Commission's discussions and proposals. (This Commission is created under the authority of Section 6 of Article XI, the Florida Constitution of 1968. Additional authority is granted under the provisions of Section 286.036, Florida Statutes) The Commission meets until May of 2008 and members submit proposals to the Commission. They are reviewing proposals for property tax reform, such as replacing a portion of property taxes via an increase in sales tax (sound familiar) and/or extending sales tax to professional services, with a proposed amendment on the ballot as early as November 2008. If you would like more information on these very important proposals, please visit www.floridatbrc.org There is also an ongoing citizen's petition drive to amend the state constitution to place a 'percent' limit on property taxes. The property tax reform debate is far from over, proposals continue to be presented and discussed. Send them your ideas and STAY TUNED !

Posted by Joanne Trugman on November 30th, 2007 8:50 PMPost a Comment (0)