Come this November, Florida and Palm Beach County voters will have the chance to express their opinion on a ballot measure that could cut property taxes across the board by an average of 25 percent, or $9.5 billion. As a result, state legislators would need to replace the revenue by raising sales and other taxes.

If 60 percent of voters agree, the Legislature will have to do away with the portion of Boca Raton school property taxes districts collected to draw state dollars, called “required local effort.” The resulting tax cut would apply not just to homeowners but to businesses, second homes and commercial buildings.

Legislators would then be required to replace the schools revenue by some combination of raising the sales tax a penny, closing sales-tax exemptions given to a wave of different industries, cutting spending or finding “other revenues.” The bill would also replace a 5 percent cap on assessment growth for non-homestead properties (businesses and second homes) similar to the 3 percent Save Our Homes cap enjoyed by homeowners.

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