Homeowners will find out in November how much they are saving. They will get an idea in August, though, when tax notices go out alerting property owners to the tax rates cities and counties plan to adopt.
If voters approve a constitutional amendment in January that expands Florida's homestead exemption, homeowners would see those additional savings on the tax bill they receive in November 2008
Florida's traditional $25,000 homestead exemption will remain unchanged unless 60 percent of voters approve the constitutional amendment Jan. 29. If this happens, Florida homeowners who now have homestead exemptions may choose between the new ''super-sized'' exemption or the tax breaks they currently enjoy, including the $25,000 exemption and the Save Our Homes tax break, which caps increases on the annual assessment to 3 percent.
Those who choose the super-sized exemption can shield up to $195,000 of the value of their home.
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