Issue Position: Property Tax Reduction for Seniors

Issue Position

PROPERTY TAX REDUCTION FOR SENIORS

This year, Representative Planas co-sponsored and the Legislature passed a State Constitutional Amendment that will save the state's seniors and additional $25,000 Homestead exemption on their property taxes.

To date, 53 countries and 158 cities have enacted the additional exemption for low income senior. In 2004, Seniors saved approximately $45,000.000 in property taxes due to the existing Low Income Senior Additional Homestead Exemption
This proposal would continue to help some of the neediest Floridians by providing targeted tax relief to Florida's seniors aged 65 or older that have incomes below $23,463.

The income limit is adjusted each year for inflation. This proposal is expected to save Florida's seniors an additional $36,000,000 if fully implemented.
The existing senior exemption helped 187,000 seniors in 2004
-42,000 in Miami --Dade
-27,000 in Broward

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