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Posted: 11:44 PM Feb 23, 2007
Florida Lawmakers Hammering Out Details of Property Tax Relief Plan
Florida lawmakers are busy sorting out the details of a property tax relief plan.
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The House Committee spending several hours going over the six billion dollar plan calling for a reduction in property taxes in exchange for a higher sales tax.
“We’ve heard the stories over and over and over again of the lock-in effect: folks trapped in their houses," says Rep. Stan Mayfield (R-Vero Beach, FL). "The inheritance issue where seniors are trying to transfer property to their children and they can’t do it because of the property tax increase.”
Backers of the House plan say it’s the largest tax break in state history.
Lawmakers convene for the 60 day session on March 6th.
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