The Jan. 29 Tax Reform Package

• Doubles homestead exemptions to $50,000, saving most homeowners in St. Petersburg; for example, about $336 a year. The additional exemption would not be applied to school taxes.

• Allow current homeowners to take their 3 percent Save Our Homes property tax cap with them if they buy another house, letting people trade up or down into new homes without stunning tax increases.

• Cap property tax increases for non-homesteaded properties — owned by businesses or vacation homes — at 10 percent growth annually. The cap would not apply to school taxes.

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