Legislators Ask Voters to Support Tax Break for Businesses

Florida voters will get to decide this November if businesses should get an additional property tax break.

The Senate unanimously approved a house resolution, HJR 1003, which calls for a constitutional amendment that would provide exemptions on tangible personal property valued between $25,000 and $50,000.

The first $25,000 is already exempt.

The bill would also allow counties and municipalities to hold their own referendums to offer an additional exemption from property taxes or other ad valorem tax relief on tangible personal property.

State economists have estimated that the tax break on the state level could save businesses $20.1 million starting in fiscal year 2013-14.