I have been reviewing a new citizens initiative which has been named cut-property-taxes-now. Its different approach is intriguing and brings a new perspective to solving this problem.

I consider this tax reduction package as one of the most interesting and I tend to support it.

Notwithstanding that I will possibly vote YES on January 29th, on another proposed amendment of the present property tax system, I believe that this new initiative could be the complement needed if we want to get serious about reforming the system in an equitable way.

The January 29th ballot will be mostly about the "portability" of the "save-our-homes" protection. This will perfect and consolidate a provision that has "saved the homes" of many Florida residents against the continuous greed of local government. A serious consideration must be given to the latest news about a judicial challenge to the old "save our homes" protection, that could be triggered by the new "portability" addition.

However the inequity of the system is blatant. Non residents, snowbirds, new home buyers, businesses, investors, are paying a much higher share of local property taxes, without enjoying any additional privilege. There could even be a challenge to the constitutionality of the "save-our-homes" protection if we do not address it now.

By limiting the taxation power of cities and counties, the new initiative could be the shot in the arm that Florida Real Estate is desperately needing. And a great relief to our middle class.

In effect, all the roll-backs voted by the legislature and even the new January 29th amendment, if approved, can be easily bypassed if cities and counties simply choose to increase the tax rates. To explain it more in detail, your home assessed value can stay the same or be reduced but your taxes can still go up if the tax percentage (millage) applied in calculating your taxes is increased.

The new initiatives addresses this loophole.

They need 650,000 signatures by January 29th. They claim that they have already obtained 75,000. They are fundraising for a last minute effort to put the initiative on November 2008 ballot.

I am not a friend of any of the people or groups that have put together this new initiative. I have written about the Florida property tax issue and I believe that it is a major problem that affect the lives of all Florida property owners.

If you have any comments, either negative or positive, please email me.