Posted July 17, 2007 10:29

When it comes to property tax reform, the Florida Association of Realtors® (FAR), the largest trade group in the state with 150,000 members, means business.

FAR has pledged up to $1 million to support passage of an amendment to reform Save Our Homes. The amendment, which goes before voters Jan. 29, 2008, would allow property owners to continue the 3 percent tax cap they currently enjoy as a result of the 1992 Save Our Homes amendment, or to choose a new "super-homestead" exemption. This option would take up to $195,000 off their home's taxable value - providing meaningful tax relief for thousands of families.

"Passage of this amendment is critical to the future of Florida," says FAR President Nancy Riley. "It will provide first-time homebuyers a large tax exemption. It will begin to equalize property taxes among neighbors. And it will allow the people who are the foundation of our neighborhoods - teachers, nurses, police officers and emergency first responders - to afford to live in the communities they serve.

"It's time to reform Save Our Homes," Riley continues. "We invite other groups to make an investment in Florida's future by supporting this amendment."

©2007 FLORIDA ASSOCIATION OF REALTORS®