House Passes Property Tax Cut Bills

The Florida House of Representatives has passed legislation that would take the first step towards eliminating homeowner property taxes across the state, replacing some of the revenue loss with an increase in the state sales tax rate.

The Associated Press gives all the multi-state context you really need on this one:

The proposed state constitutional amendment...could make Florida the only state in the nation without either a personal income tax or property taxes on primary homes, known as homesteads.

Any financial planner will tell you that diversification is a pretty good thing-- and any parent will tell you that putting all your eggs on one basket is a bad idea. Apparently Florida House leaders haven't been listening to either of these two constituencies...