Florida Moves Closer On Property Tax Overhaul

Florida's House of Representatives has voted in favor of the 'Save Our Homes' amendment proposal to lower homesteaded property taxes. The final vote was 75 to 26 and the Senate is now debating the bill. The plan would raise the exemption to 150 thousand dollars in 2027 and then to 250-thousand in 2028. During the first day of the special session, lawmakers changed the governor's proposal to ensure school funding remains intact, while also allowing local governments to continue funding key offices and removing a proposed state backstop fund. The measure needs 60 percent approval from both chambers to reach the ballot, and then 60 percent of voters statewide to become law.