The Real Deal Miami

Tax breaks for home buyers considered

February 24, 2009 11:06AM

Governor Charlie Crist is floating a series of property tax cut measures, including breaks of as much as $5,000 for first-time home buyers, as well as breaks for businesses, landlords and snowbirds. His proposed $66.5 billion state budget is light on detail, but the governor said that tax cuts for individuals, families and small businesses need to be reduced to help Florida’s economy recover. He wants to limit the increase in the taxable value of business property, rental housing and second homes to 5 percent per year, down from the 10 percent cap instituted last year.