Realty Blog

It's the question on everyone mind: Will lawmakers agree on a plan that significantly reduces property taxes? At this point, the House and Senate are miles apart on the issue, and any resoluton probably won't happen until late Friday evening. The House continues to insist on a property tax/sales tax swap - an idea firmly opposed by the Senate and unikely to gain favor. Last week, Gov. Charlie Crist offered a plan he considers a reasonable compromise. His four part program includes rolling back local property taxes to 2003 levels, with an allowance for inflation and population growth; doubling the homestead exemption to $50,000; Save Our Homes portability; a 25% property tax exemption for first-time homebuyers; and a $25,000 exemption in taxes for business equipment and other tangible personal property for businesses. 

4/30/2007 Florida Real Estate Headlines from the Florida Association of Reators