Property Tax Constitutional Amendment Approved by Senate

By: Capitol News Email
By: Capitol News Email

Tallahassee, Florida - May 5, 2011 -

First time home buyers would get a huge tax break, businesses would know their property taxes could not go up more than five percent a year, and everyone else who owns a home would not see their taxes go up when the value of their homes goes down under a plan state lawmakers sent to voters today. The ideas are part of a constitutional amendment voters will see in November 2012. Sponsor Mike Fasano says passage will create jobs.

“Maybe the small businessman and woman, who were reluctant to go into business, will know that there is a cap and they will know that their taxes aren’t going to triple and force them out of business, even after their first or second year,” Fasano said.

A similar plan would have been voted upon in 2010, but it was removed from the ballot because it was misleading.

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  • by Anonymous on May 4, 2011 at 04:21 PM
    Post the full amendment so we can read where it prohibits the local taxing authority from increasing the millage rates to compensate for the lowered value of the property. Current and new homeowners need some breaks - business is being WELL cared for with tax cuts by this Legislature and who was elected by 1% majority as Governor.
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