Gov. Rick Scott today in West Palm Beach signed legislation that will save homeowners and businesses throughout Florida $210.5 million on property taxes due in 2012.

Senate Bill 2142 caps the taxes Florida’s five water management districts can assess on residential and commercial properties.

Across four of the five water management districts, property owners will save an average of 30 percent on their 2011-12 property taxes. Residents will see varying levels of savings, depending on where their property is located. Property owners in the Southwest Florida Water Management District will see the greatest savings.  Savings for all five districts are as follows:

• Southwest Florida Water Management District (which includes Osceola County), 36% reduction

• South Florida Water Management District, 30 percent reduction

• St. Johns Water Management District, 26 percent reduction

• Suwannee River Water Management District, 8 percent reduction

• Northwest Florida Water Management District, no increase

In addition, property owners will have more access to information about each water management district’s budget.  Each district is required to provide a monthly financial statement to its governing board and make the information available to the public on the district’s website.

“This property tax cut allows families and businesses to use more of their hard-earned money in the way they see best, rather than having to send it to a government agency,” Governor Scott said.  “In addition, with access to more information about their water management district’s budget, property owners will be able to hold them accountable for how every tax dollar is spent.”