Tax Reform passes legislation

By
Real Estate Agent with Adams, Cameron & Co. Realtors

Well it finally went through. The legislature has approved the tax cuts and it will be up to the voters in January. I will be very surprised if it doesn't pass despite likely lobbying from the various unions.

One nice feature that didn't look like it would make it is the option for people to stay under the Save Our Homes plan. If you'll look to one of my last posts, that was a major concern for owners of more expensive property. As Save Our Homes moves out of the picture, the tax situation will return to a more normal position. Eventually, this will restore a balance between non-homesteaded and homesteaded properties. Of course, homesteaded property will always have savings but it will now be more in line with an appropriate figure.

Lawmakers cut property taxes, more may come - 06/15/2007 - MiamiHerald.com

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