Wednesday, May 23, 2007

Pros and Cons of Property Tax Relief Methods

One method of property tax relief may be “too rich” for counties with low real estate values, another would disproportionately benefit Florida’s wealthiest homeowners and the third could create inequities among taxpayers from one county to another.

Each of the three approaches that Florida lawmakers are considering also has advantages over the others, legislative staffers Monday told a select House-Senate committee trying to come up with a plan both chambers can accept at a June 12-22 special session.

All three versions, though, have something in common. Each is a percentage-based tax exemption. Lawmakers are in general agreement that’s the way to go after failing to reach consensus on other proposals during their regular session, which ended May 4.

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