Created: 1/29/2008 9:57:17 AM 
Facts and figures on Amendment 1, a property tax relief proposal on Tuesday's presidential primary ballot:
TAXPAYER EFFECT
Homestead exemption: Increases from present $25,000 to $50,000 for primary homes valued at $50,000 and more except for school taxes. Average savings: $240 per year. Portability: Allows primary homeowners to take their accrued Save Our Homes benefits a 3 percent annual cap on assessment increases with them when they move, up to $500,000 in property value. Savings: Only homeowners who moved in 2007 and subsequent years would save and amounts would vary depending on the values of their new and old homes. Tangible Personal Property: Exempts the first $25,000 in value. Non-Homestead Assessment Cap: Limits assessment increases to 10 percent annually except on school taxes.FIVE-YEAR COST TO LOCAL GOVERNMENT
Homestead exemption: $4.67 billion. Portability: $2.67 billion. Tangible Personal Property: $934.6 million. Non-homestead Assessment Cap: $1 billion. Total: $9.3 billion (schools $1.56 billion, non-school $7.75 billion)Related articles:
Duval Educators Take Stand Against Amendment 1 Duval County Schools Outline Impact of Upcoming Amendment 1 Vote Firefighters Rally Against Tax Cut Plan Property Tax Reform Draws Interest as Election Draws Near Gov. Crist Asks Jacksonville To Support Tax Amendment ©2010 Associated Press. All rights reserved. This material may not be published, rewritten, or redistributed.
