Hello Everyone,
Evelyn Here,
Below is a message from our governor, Charllies Crist.
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June 21, 2007
Dear Friends,
Today I signed landmark legislation that will provide the largest tax cut in Florida’s history to the property owners of our state. This tax cut is yours – the people’s tax cut – because you called on your legislators to make it happen. And you have called on me, too, since last year on the campaign trail. I am honored today to fulfill our promise to you and make property taxes drop like a rock.
The legislation I signed today will first roll back all property taxes to last year’s levels. All property owners will benefit, whether you own homesteaded property, a second home, or rental or commercial property. Depending on where you live, you will see a tax cut of five to ten percent. Statewide, the average property owner will save about $200 this year, and all property owners are expected to save approximately $15 billion over the next five years.
Second, this legislation gives you the power on January 29 to cut your 2008 property taxes – and beyond – even further. After approving the constitutional amendment, homeowners will see a substantial decrease in property taxes. Then you will get to choose the tax savings that works best for you. You can continue with your current homestead exemption and Save-Our-Homes cap, or you can select the new, so-called “super-sized” homestead exemption.
This super-sized tax cut will exempt 75 percent of the first $200,000 of your home’s value, and 15 percent of next $300,000. At a minimum, this super homestead exemption will double your current $25,000 homestead exemption, which is a promise I campaigned on last year.
Other property owners will benefit, too. Low-income seniors will see a minimum $100,000 homestead exemption. Affordable housing and working waterfronts will be taxed based on the income from the property. And businesses will receive a tax exemption on the first $25,000 of their tangible personal property.
Altogether, the constitutional amendment will save Floridians between $10 and $15 billion over four years. These savings will make a real difference in the lives of Floridians like the ones I met with today. Property taxes could drop by two-thirds for people like the Lewises in Tallahassee, the Waddles in West Palm Beach, the Mohans in Miami and the Garcias in Tampa.
The constitutional amendment in January gives you the opportunity to exercise your right to choose even lower property taxes. In this way, we can ignite Florida’s economy and create a better bottom line for Floridians – and all of Florida.
For additional information, click here to visit our website.
May God continue to bless you and the great state of Florida,
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Evelyn out.
