The proposed state constitutional amendment would increase exemptions for primary homes, known as homesteads, for an average estimated savings of $240 a year per taxpayer.
Also, for the first time it would cap assessments on other properties - businesses, second homes and rentals.
A "portability" provision would let homesteaders take at least part of the benefits they get from the existing Save Our Homes assessment cap with them when they move.
The House now faces little choice but to take the proposed compromise or leave it.
The Senate passed the measure 35-4 then voted 37-2 to put it on the January 29th ballot.
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source: nbc-2.com
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