State Takes On Inequities In Property Tax - Again

The Legislature hopes to pass a property tax relief package at midweek and have the language on the Jan. 29 ballot as a constitutional amendment. Lawmakers have softened their approach and taken up Gov. Charlie Crist's more modest proposal to double the homestead exemption from the existing $25,000 to $50,000. That would lower the taxable value of your home and, in turn, your tax bill. The second key element is portability of the Save Our Homes valuation benefit. While home values have soared in Florida, taxable values have risen slowly because of a 1992 constitutional amendment limiting valuation increases to no more than 3 percent a year.

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