PROPERTY TAXES - Smaller property tax deal likely to pass

TALLAHASSEE -- State House and Senate leaders released the framework of a property tax cut plan Wednesday that adopts most of Gov. Charlie Crist's proposal and adds a few tweaks, giving renters a break and allowing low-income seniors to pay no homestead taxes.

The tentative deal means it likely will pass in some form by Oct. 22, now that the Legislature plans to extend the special lawmaking session on the budget through next week.

If approved by voters, the proposed constitutional amendment would save taxpayers about $2.1 billion statewide in 2008-09, but the plan would mean savings of only $240 for the average homeowner. The modest relief falls short of the Legislature's goals for deep savings but salvages their efforts to place a constitutional amendment on the Jan. 29 ballot.