2007 FLORIDA LEGISLATURE

The Senate unveiled its long-awaited bipartisan property tax reform package last week, and it differs significantly from the House’s plan. The Senate proposal includes a tax rate rollback, a cap on future local government revenue increases, a limited version of property tax portability and a special exemption for first-time homebuyers – but no sales tax increase. Both chambers have included Crist’s proposal for a $25,000 exemption on tangible taxes paid by businesses.

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