Melbourne Area Blog

The property tax reform has passed allowing voters their say in January. A summary of what it means:

Homesteaders: Will have the greatest savings. Those willing to  opt for the greater savings under the new plan will have the biggest savings. A plus is the option for those who want to keep the current Save Our Homes with the 3% cap will be allowed to do so until the property changes hands.

Non-homesteaders: Some savings here, with an average tax savings of 7% in Brevard County and protection from the huge yearly tax increases in the past.

Business/Commercial: Will now have a $25,000 exemption and see a savings of 5 - 7%.