Is property tax plan the answer for ailing market?
The property tax plan voters will decide on next year might save first-time home buyers $1,500 or more, an analysis shows, raising hopes among lawmakers that it could reinvigorate an ailing housing market that is vital to the Florida economy.
Backers of the proposal -- held up by Gov. Charlie Crist and legislative leaders Friday as one of the few highlights in a grim session -- are counting on the allure of lower tax bills to gain the required 60 percent voter approval in November 2010. The break would apply to anyone who buys a home in 2010, and affect taxes the next year.
''It's going to turn renters into buyers,'' predicted Rep. Carl Domino, the Jupiter Republican who worked on the plan and may try to tweak it next session. (story here)