Tax amendment passes, giving Crist a great night

WEST PALM BEACH — Floridians gave themselves a property tax break tonight.

With an overwhelming show of support, voters followed the lead of Gov. Charlie Crist, approving his $9.2 billion property tax relief package and his presidential candidate endorsement, John McCain.

The property tax amendment faced tough odds.

Today's vote was the first time in the state's history a constitutional amendment needed 60 percent of voter approval to pass. Voters approved the tougher rules in 2006.

And at 10 p.m., with 71 percent of the expected vote counted, 64 percent had voted yes for the proposed state constitutional amendment.

Supporters were also fighting voter confusion. Going into today's election, the 498-word ballot summary had already confused voters, particularly in Palm Beach, Martin and St. Lucie counties. None of it seemed to matter. The statewide results haven't dipped below 60 percent all night.

Crist, who was the head cheerleader for the amendment, said it would help reignite a sluggish real estate market and provide needed tax cuts to everyone.

For most homesteaded property owners, today's approval will mean a savings of about $240.

A bigger savings will come from the portability portion of the bill.

The constitutional amendment will cut property taxes in four ways:

ñ Adding an extra $25,000 homestead exemption for non-school taxes. The exemption would apply only to homes valued at more than $50,000 and would save homeowners statewide an average of $240 a year.

ñ Allowing homestead owners to transfer up to $500,000 of their Save Our Homes benefit to a new Florida homestead. This portion of the amendment also would keep intact the Save Our Homes amendment that caps increases in homestead assessments at 3 percent a year.

ñ Capping assessment increases on non-homesteaded properties, such as second homes and business properties, at 10 percent a year.

ñ Giving businesses a $25,000 exemption from the tangible personal property tax that would be similar to the $25,000 homestead exemption.