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Crist, Trump Tout Tax Initiative

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By BRENDAN FARRINGTON The Associated Press

Published: December 7, 2007

NEW YORK - Donald Trump, who pays $1 million a year on a single Palm Beach County mansion, helped Gov. Charlie Crist raise money Thursday for a ballot question that could cap all property taxes while providing cuts for most homeowners.

"The press just told me I pay over $1 million a year on one house in real estate taxes in Florida. I didn't even know. I said, 'Really? I pay that much?'" Trump told a crowd of about 40 while standing next to Crist in a Trump Tower office. "Hopefully that sucker will come down a little bit."

Crist personally won't see any immediate savings if the property tax cut on next month's presidential primary ballot is passed. The political value, though, is worth more than the $240 he'd get to keep if he owned a home.

Crist rents a downtown St. Petersburg condominium and, of course, has use of a mansion near the Capitol. But for months on the campaign trail he promised to reduce property taxes and has made the issue one of his highest priorities since taking office.

That's why the governor will be making a huge push to get support for the Jan. 29 ballot question that would double the homestead exemption and place a 10 percent assessment cap on all properties.

Some of Crist's fellow Republicans, however, say the average estimated saving of $240 a year per homeowner is too little. Cities, counties and the state's largest teachers union also argue that the measure will mean cuts in services and hurt schools.

"When you have to go up to New York and do a fundraiser with Donald Trump to finance a campaign down here, it may be a signal about who benefits the most," said Mark Pudlow, a spokesman for the Florida Education Association.

Organizers would not say how much the event raised, but the cost to attend was $1,000, and larger checks were expected during and after the fundraiser.

The proposed amendment would double exemptions on primary homes to $50,000. It would also cap assessments on other properties - businesses, rentals and second homes like Trump's Palm Beach mansion, which is appraised at $58 million.

In 2005, the assessed value of Trump's mansion was $41.4 million. It jumped to $56 million the next year. His taxes increased from nearly $796,000 to more than $1.03 million.

The amendment also would let homeowners take at least part of the benefits they get from the existing 3 percent assessment cap on primary homes when they move. It also would give businesses a $25,000 exemption for equipment and other property.

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