Tax Portability Law Didn't Stimulate Sales

A year ago, Florida voters approved a tax-reform package that limited the growth in the taxable value of homes to 3 percent a year and allowed those homeowners to sell their home and move to another, taking the tax limit with them. The idea was to eliminate any tax considerations that might keep Floridians from selling a home and buying another, but the plan seems to have had little impact. State tax experts calculated that the average home seller would save $2,500 in taxes when he sold a current property and bought a different one. In reality, the savings was much less. The 13,646 Floridians who took advantage of the tax break saved an average of $1,500 from what they would have paid previously.

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