House panel OKs affordable-housing tax bill


TALLAHASSEE, Fla. – March 30, 2007 – A bill sponsored by Rep. Keith Fitzgerald (D-Sarasota) that aims to minimize property taxes for homeowners whose dwellings sit on land owned by a community land trust has received the approval of the House Government Efficiency and Accountability Council.

Given that homeowners cannot sell land-trust residences for full market value, Fitzgerald believes they should only be taxed up to the resale limit. If the House Policy and Budget Council approves the legislation, it will move to the entire House.

A similar bill in the Senate has yet to be heard by its Community Affairs, Finance and Tax committee – after which it will move to the General Government Appropriations committee.

Source: Bradenton Herald (FL) (03/29/07) Lewis, Lyndsey

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