Under a plan approved by the Florida Taxation and Budget Reform Commission Monday, voters will have a chance in November to approve an across-the-board property tax cut averaging 25 percent. The measure also includes a provision giving businesses, second homes and other properties that do not qualify for a homestead exemption a 5 percent cap on annual tax increases. The proposal does not include a mandatory services tax; FAR lobbyists and other business groups successfully argued to remove the services tax provision several weeks ago.

This is an article picked up by the Florida Association of Realtors from The Miami Herald about the new tax proposals.