Democrats' proposal would sharply raise homestead exemption

Under the Democrats' plan, the state would base tax exemptions on the median assessed value for single-family homes in each county. Owners of primary homes would get a homestead exemption equal to half that amount, plus the existing $25,000 exemption.

For example, in Miami-Dade County, the median assessed value of a single-family home is $226,580, so homeowners would, at a minimum, receive an exemption of $113,290 plus $25,000, for a total of $138,290. In Broward County, the median assessed value is $230,730, so homeowners could get a minimum exemption of $140,365.