Jeffrey Saull Forms Committee to Pass Property Tax Cut Amendment; Poll Shows Overwhelming Support For Initiative; Saull Commits To Raising $3 Million To Secure Passage VERO BEACH, Fla., Dec. 23, 2003 -- Jeffrey Saull took the next step in his quest to cut property taxes in Florida by forming a political committee to push his constitutional amendment. The committee, called Families for Lower Property Taxes, will submit the proposed constitutional amendment to the Department of State next week and begin signature-gathering shortly thereafter. "We've completed our research and are more convinced than ever that this is the right thing to do," Saull said. Statewide survey results show overwhelming support for Saull's property tax cut. 69% of respondents approved of his ballot language citing the need for tax relief as the major factor behind their support. The survey, conducted December 17, also showed that 84% of statewide voters believe government is too big and wastes too much money. "My amendment will help reign in runaway government spending and provide property tax relief to thousands of deserving Floridians," Saull said. Saull's proposal is a constitutional amendment increasing the Homestead Exemption from $25,000 to $50,000. The result, if passed, is hundreds of dollars in property tax relief annually to Florida homeowners. Saull cited statistics that show property taxes have increased three times faster than population as evidence of out-of-control spending. "Increasing the Homestead Exemption will save homeowners hundreds of dollars on their property tax bills each and every year," Saull said. "This property tax cut will help seniors, our servicemen and women, and working families make ends meet," he added. "Property values have skyrocketed and property taxes are way too high. My property tax cut amendment will create nearly $2 billion in economic stimulus to help jumpstart our economy," Saull said. Saull said he expects to raise and spend $3 million to place his amendment on the ballot and educate voters, pledging to personally finance "as much as it takes to make it happen." # # # CONTACT: Michelle Rosen, +1-561-750-9800, ext. 14, or MRosen@transmediagroup.com