Senate Considers Education Homestead Exemption for Florida Seniors

A Florida Senate committee has taken steps to set up a new education property tax exemption for some of the state's older adults, reports the Tampa Bay Times . The measure would freeze the taxable values of Florida residents age 65 or older who have lived in their homes for 25 years or more. This follows an amendment to the original version, which would have removed school taxes for those homeowners. State Sen. Manny Diaz (R) expects to further adjust the terms as the bill moves through the legislative process. He said he did not intend for the owners of multimillion-dollar homes to exploit the proposal, stressing the objective is to meet the "dire need for relief" of seniors who live on limited incomes in their modest homes and cannot afford rising property taxes. Sen. Gary Farmer (D) supports both measures, expressing a desire to help seniors on fixed incomes without harming schools. The bills next go to the state Senate Finance and Tax Committee for consideration.