Some of Florida’s top real estate brokers and members of the Florida Association of Realtors (FAR) joined Gov. Charlie Crist in Tallahassee last week as a show of support for the property tax relief constitutional amendment voters will consider during the state’s primary election on January 29.
Among other things, Amendment 1, the only amendment on the ballot , calls for a $25,000 tangible personal property exemption for small businesses on items such as business equipment and other tax breaks for property owners.
“The ripple effect [following passage of this amendment] of getting relief to those who have been locked in their homes will be huge and will be felt throughout the real estate industry,” said Juan Baixeras, a broker with Florida Realty of Miami.
FAR is one of several business groups that support Amendment 1. Others include the Florida Chamber of Commerce, Associated Industries of Florida, Florida Power & Light, Florida Retail Federation, The Florida Outdoor Advertising Association and the Florida Medical Association.
“I applaud Realtors for lending support to such an important issue like property tax cuts,” said Gov. Crist. “Amendment 1 will bring about much needed relief to Florida’s homeowners and will enable them to have more flexibility in purchasing a new home.
Passage of Amendment 1 will return money to homeowners right away and put nearly $10 billion back into Florida’s economy over the next five years.
This tax cut is in addition to the $15 billion property tax cut created during a June special legislative session that rolled back property taxes to 2006 levels.
Amendment 1 benefits those who want to move into a different home, seniors seeking to downsize, and business owners facing rising property values.
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