The Real Deal Miami

Commission approves property tax amendment

March 18, 2008 10:18AM

The Taxation and Budget Reform Commission approved a property tax amendment for the November ballot yesterday in a 21-4 vote. Pending its approval in November, the measure would reduce the amount of property tax used for school budgets, which could cut the tax around 33 percent in Miami-Dade and 36 percent in Broward. The state legislature will have to decide where money to replace the lost revenue will come from, but it is likely to include sales tax hikes and budget cuts elsewhere.