Jeffrey Saull Proposes Constitutional Amendment to Cut Property Taxes VERO BEACH, Fla., Dec. 15, 2003 -- Businessman and philanthropist Jeffrey Saull announced today that he will pursue a constitutional amendment to provide property tax relief to Florida families. "Property values have risen dramatically in recent years; all over the state and local government budgets have ballooned. It's time Florida homeowners got some of their money back," Saull said. Saull said he is researching various ways to cut property taxes including increasing the Homestead Exemption. He plans to form a political committee and file the necessary paperwork for the initiative in the coming weeks and begin gathering signatures after the first of the year. "I am convinced a property tax cut is the best thing we can do for Florida's families and our economy," Saull added. "It's a matter of fairness." Saull said he was motivated to act on this matter after talking to his mother and her friends about how concerned they are over escalating costs for health care and prescription drugs and worry about the economy. "My mother is the perfect example of why we need to do this," Saull said. "She is a woman who has worked and saved her whole life, and now her monthly expenses are rising beyond her means." "Fortunately, I'm in a position to be able to help her and with this amendment, I can help many others," Saull added. "People in Florida are concerned about the economy and are feeling a real pinch in their family budgets since September 11. Meanwhile government budgets continue to rise and many counties are wasting millions from the property value windfall on unnecessary projects," Saull said. "My wife Karen and I worry that too many of Florida's seniors, working families and especially the families of servicemen and women overseas worry each month about having the money to just get by," he continued. "For all that these heroes have sacrificed it's our patriotic duty to give some back. These families need some help, this is the least we can do," Saull said. # # # CONTACT: Michelle Rosen, +1-561-750-9800, ext. 14, or MRosen@transmediagroup.com