Will We Get to Vote on Property Tax Reform in January?

Yes!  On Monday October 29^th, the Florida Legislature passed a property relief package that will be on the January 29^th statewide ballot.  The tax-cut package will include placing a 10% yearly assessment cap on non-homestead property and will allow homestead property owners to take their accrued Save Our Home benefits with them when they buy a new house.  Good news for investment property owners or snowbirds and homeowners that want to move into larger homes but can't afford to because of the massive tax increase they might face.  The plan will allow these homeowners to take up to $500,000 in their Save Our Homes savings with them when moving into a new homestead.  The Senate's tax package will also double the $25,000 homestead exemption except for school taxes and give businesses a $25,000 tax break on tangible personal property. 

On January 29^th we all need to vote for the tax reform.  A 60% vote is needed in favor of the changes.  Let's give our sluggish economy a little boost!

 

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