Thursday, April 24 and Friday, April 25, the Tax and Budget Reform Commission (TBRC) will be meeting to decide whether significant property tax relief will appear on the ballot in November. Because of political fighting, diverse opinions, and disagreement, members are struggling to reach the 17 votes necessary. This is very unfortunate, since the TBRC only meets every 20 years.
Please contact the members of the Tax and Budget Reform Commission and urge that, AT A MINIMUM, meaningful property tax reforms be placed on the November ballot. After all of the commission's time and energy, and the hours of testimony from the public, Florida Realtors demand action! These reforms could include some or all of the following:
•1. Raising the sales tax by a penny to REPLACE a portion of the property tax - a $4 billion savings to ALL property owners;
•2. A 5% assessment cap on non-homestead property similar to "Save Our Homes;"
•3. A super-homestead exemption that would offer significant savings for both current and new homeowners which would help protect "portability" from a legal challenge;
•4. A reasonable revenue cap that keeps local governments from playing a "shell game" by raising fees and other taxes in place of savings gained from Amendment 1;
•5. Removal of the required local effort (RLE) - the school board portion of property taxes.
FAR believes that approval of most or all of these items will help stimulate Florida's slumping economy and further energize our real estate market. Please contact the Tax and Budget Reform Commission today.
click here to contact the Tax and Budget Commission