|Published:||Sep 21, 2010 3:53 PM EDT|
|Updated:||Sep 21, 2010 12:54 PM EDT|
TALLAHASSEE, Fla. (AP) - A preliminary report shows county property tax collections are dropping by $584 million this year in Florida.
The Florida Association of Counties released the report Monday.
It also shows the 2010 reduction is part of decline totaling $2.1 billion over a span of four years.
Most of the four-year drop - $1.69 billion, or 69 percent - has been due to the national recession, which has devalued homes, businesses and other real estate.
A property tax rollback ordered by the Legislature is responsible for $340 million in reductions, or 14 percent.
Additional tax cuts voters adopted two years ago through a state constitutional amendment accounted for $430 million, or 17 percent, of the decline.
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