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Failure isn't the end for tax cap idea
By Alex Leary, Times Staff Writer
Published February 5, 2008
TALLAHASSEE - Backers of a 1.35 percent property tax cap failed to get enough signatures for the November ballot, but the idea may not be dead.
State Sen. Mike Bennett, R-Bradenton, said Monday he will introduce the idea as a bill for the upcoming session.
"My No. 1 concern is let's treat everyone equally," Bennett said. "This has great possibility."
The proposal would restrict taxes to 1.35 percent of the taxable value of any parcel, including commercial property. Modeled after California's Proposition 13, it would effectively limit millage rates to 13.5 percent.
The homestead exemption and Save Our Homes assessment cap would remain.
Supporters say it would cut property taxes by $8-billion in the first year alone and reduce property tax collections by 26 percent statewide.
The proposal has strong support from House Speaker Marco Rubio, R-Miami, and others who feel the Amendment 1 tax cut did not go far enough.
Advocates launched an effort late last year to collect the more than 611,000 signatures to put the idea before voters. They now have about 135,000. Signatures are good for four years, so the 2010 ballot is reachable. But the Legislature could fast-track it by putting it on the ballot this year.