Florida Property Tax Break Gathers Momentum

After looking like it was headed toward a January ballot as a political orphan, the Legislature’s big property-tax initiative is finally attracting a few sugar daddies.

The Florida Association of Realtors pledged to spend $1 million urging voters to endorse the measure to create a supersize homestead exemption of as much as $195,000 on a $500,000 house. Realtors say it will kick-start a stalled housing market.

Then, Associated Industries of Florida President Barney Bishop said he would ask his board of directors to spend some cash on a campaign for the proposed constitutional amendment, even though he acknowledged it provides little tax relief to businesses.

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