Florida Governor Charlie Crist signed the first part of an historic property tax-cut legislation on Thursday.
The bi-partisan law is expected to cut more than $15.5 billion dollars in local property taxes during the first five years.
The cuts are permanent and will be spread across-the-board.
The estimated average savings for a primary homeowner is $174 dollars in the first year and roughly the same over the next four years.
Voters will decide whether to adopt the second half of the plan January 29th.