Florida business owners might see tax relief
Owners of small apartment buildings and mom-and-pop businesses who have faced massive increases in their tax bills could see some relief under a plan that is moving swiftly through the Florida Legislature.
A bill passed 13-0 by the House Government Efficiency & Accountability Council Wednesday would change the way properties are assessed, potentially reducing taxes dramatically and allowing property owners to pass on the savings to tenants.
Under current law, property appraisers base the value of properties on their development potential, known as ”highest and best use,” regardless of what kind of structure is sitting on the land.
But at every stop, the scope of the bill proposed by Rep. Carlos Lopez-Cantera, a Miami Republican, has shrunk. Meanwhile, Senate leaders have balked at moving ahead with a similar plan.