A $50,000 Homestead Exemption Drive Is Picking Up Steam

Vero Beach import-export millionaire Jeffrey Saull is pushing the idea. He wants a public vote on doubling Florida's $25,000 homestead exemption to $50,000.

The drive has until August 3rd to obtain about 488,000 signatures, and supporters say he's about halfway there.

Critics say approval would gut the financial base for many school districts and force most to either raise taxes or cut services. They also say some of the state's poorest communities would suffer the most.

Saull contends government tax collections have far outpaced population growth and need to be reduced.