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Iorio Predicts Win For Amendment

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By MARK HOLAN, The Tampa Tribune

Published: January 23, 2008

WEST SHORE - Mayor Pam Iorio doesn't support the statewide property tax referendum but predicts it will pass Tuesday.

"I think a tremendous opportunity is being missed for true tax reform," Iorio told the South Tampa Chamber of Commerce last week.

The constitutional amendment would double the $25,000 homestead exemption, allow homeowners to transfer up to $500,000 of their Save Our Homes benefit for in-state moves, create a $25,000 exemption on tangible property such as business equipment and cap increases on non-homestead property.

Iorio said the proposal doesn't deal with inequity in Florida's tax system.

If approved by 60 percent or more of referendum voters, the amendment is expected to take a big bite from local government revenue.

"Whatever happens, I will deal with it," Iorio said. "I don't believe in whining."

Declining revenue has forced Iorio to slash the city budget. She told the chamber that sales tax income is down 8.8 percent from last year.

"The economy concerns me greatly," she said.

Iorio told the business group that she is heartened by proposed projects such as an Ikea store on Adamo Drive, a 269-room Ritz-Carlton hotel on the Courtney Campbell Parkway and downtown's first new office building in 15 years.

"I'm very bullish on Tampa," Iorio said. "Tampa is poised for tremendous prosperity and growth."

Reporter Mark Holan can be reached at (813) 835-2102 or mholan@tampatrib.com.

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