Below is a press release from Florida House Majority Leader Adam Hasner. This newest development in tax reform would cap assessments on all properties in Florida at 3%. While this may not be the final version that passes, we know your voices are being heard, major tax reform is being considered for all classes of properties in Florida!
FOR IMMEDIATE RELEASE CONTACT: Alberto Martinez
October 16, 2007 (850) 488-1993
HOUSE REPUBLICANS PASS BI-PARTISAN AMENDMENT TO CAP FUTURE INCREASES ON NON-HOMESTEAD PROPERTY
TALLAHASSEE - Four House Democrats on the House Policy and Budget Council joined the Republican leadership of the Florida House of Representatives today to approve a 3% cap on the amount of value a non-homestead or commercial property could increase on the tax rolls each year.
"Capping all properties at 3% will immediately restore fairness, equity and predictability to our property tax system," said Representative Stan Mayfield (R-Vero Beach), who offered the amendment. "This proposal greatly improves upon the Governor's initial property tax proposal by providing real protections against future tax increases and leveling the playing field for all property owners in Florida."
Capping non-homestead property taxes is not a new idea. A similar Joint Resolution limiting assessments on residential and commercial property was introduced last year by then Representative Frank Farkas.
"I am pleased that four Democrats were able to put party affiliation aside and join with Republicans in doing what is right for the taxpayers of our state," said Majority Leader Adam Hasner (R-Delray Beach). "This amendment provides the property tax predictability and protection that non-homestead and commercial property owners in Florida desperately need. The early bi-partisan support we have received for this proposal is encouraging, and we hope the momentum will continue."