A House panel has unanimously approved a measure limiting property tax increases.
The House Finance and Tax Committee okayed a bill revising how roll back rates work. Committee Chair Matt Gaetz (R-Shalimar) says it’s used to calculate the property tax rate that would keep revenue steady.
“There was an establishment of a roll back rate, but the roll back rate was not fixed to any reality that existed at that time,” Gaetz says. “It was instead affixed to an expectation of what the rate could be.”
The measure would tie roll backs to actual tax receipts rather than the total a municipality could’ve collected. An identical bill in the senate is awaiting its first hearing.
