State of Florida to Dramatically Cut Property Taxes!

Florida lawmakers have agreed to a $31.6 billion tax relief package. The plan will be phased in over the next five years and is highlighted by what is being called a super-exemption on your homestead.

For example, a homeowner whose primary residence that has a taxable value of $400,000 currently pays approximately 1.6% of $375,000 in annual property taxes or approximately $6000. Under the new plan the same homeowner can take a $180,000 exemption and pay approximately 1.6% of $220,000 or $3520, a savings of $2480 (roughly 40%). The new plan would implement a sliding scale based on the value of your home. Please see the linked article in the Orlando Sentinel for additional details.

http://www.orlandosentinel.com/news/orl-taxes1107jun11,0,5760053.story?coll=orl-news-headlines