A day after Florida lawmakers hailed their landmark property-tax cut, analysts and real estate agents sounded off, insisting the savings won’t be enough to stimulate the hamstrung housing market.

The property tax system has been a key factor in South Florida’s slumping real estate market, which in turn affects other industries. Housing accounts for about 15 percent of the state’s economy, according to one University of Florida estimate, and the downturn has led to thousands of job losses.

Existing homeowners say the current tax system keeps them trapped in their homes, unable to buy larger or smaller places because their taxes would double or triple. FL Real estate agents had predicted a new property-tax plan would boost sagging sales, but that optimism is fading.

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