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Early voting is underway, but with the majority of voters heading to the polls on January, 29th the property tax debate is still a hot topic.  The Capital Tiger Bay Club in Tallahassee hosted a forum on the proposed amendment.  It would double the homestead exemption and allows homeowners to take their Save Our Homes benefits with them when they move.  Representatives from the Florida League of Cities, the Florida Association of Realtors, and Florida Tax Watch debated the pros and cons of the amendment.

“We think it is going to definitely pick up the market some,” said Trey Price, with the Florida Association of Realtors.  “Is it going to return to the real estate bubble and boom of 2002, 2003, that’s doubtful.  But one thing it is for certain going to do, it’s going to offer opportunities for people to move into the home of their dreams, to move to a better and bigger house, or, if they even want to downsize, to pay less taxes.”

“You’re going to take a very unfair property tax system that you have now, and you’re going to make it more unfair, said Mike Sittig, with the Florida League of Cities.  “And instead of the property tax being based on the value of the house, the property taxes are going to be based on how long you lived in the house prior to the one you live in now.”

60 percent of voters have to approve Amendment 1 for it to take effect.