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Reeling from GOP anger over his support for the stimulus, Florida Gov. Charlie Crist is brandishing his conservative credentials by introducing four property tax proposals that would go before voters in the 2010 election.
Details of the plan:
1. cap gov't spending by limiting city and county tax collections.
2. limit growth in the assessed value of businesses, vacation homes, and nonhomesteaded properties at at rate of 5% annually.
3. increase the homestead exemption to 50% of the home's market value; thereby aiding first-time home buyers.
4. make homesteaded properties with market values in decline would be immune to tax assessment increases.
Total taxpayer savings could reach $600 million.
So how does the plan make it into Florida law?
The constitutional amendments will need to pass by a three-fifths vote in each house: 24 in the Senate and 72 in the House. In each chamber, the proposals can pass without any Democratic votes.
Voters must approve the final amendments with a 60 percent vote.
[Hat tip: The Buzz]
