Save Our Homes cap will bring property tax cheer to homeowners

The Save Our Homes cap will deliver more property tax relief in 2009 than at any time in the program's 15-year history. That's welcome news for stressed homeowners, many of whom have seen their tax bills increase while the market has fallen. But it's yet another worry for local government leaders getting pounded by revenue declines. State law sets increases to the assessed value of homesteaded property at 3 percent or the consumer price index, whichever's lower. This year the index, a measure of the change in price for goods and services, rose 0.1 percent.

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