Property tax cuts imperiled

Foreclosures and plummeting home values stalled the full benefit of Florida’s Amendment 1 property tax cuts. Governor Charlie Crist estimated the first full year of the program would save Floridians $1.2 billion. Amy Baker, director of the Economic and Demographic Research, said the timing of the housing boom correction interfered with the impact of the program, and that it cold be three years before the benefits are fully realized by property owners.