TALLAHASSEE, Fla. -- State lawmakers have passed a plan to slash property taxes and taxpayers get to vote on part of it early next year.

It's the biggest reduction in state history, cutting billions of dollars in taxes over five years. But it also asks Florida homeowners to make what some are calling a very difficult choice.

They would have the choice of getting a new tax break or keeping the one they have. The current homestead exemption limits assessment increases to three percent annually. The new proposal knocks 75-percent off the first $200,000 of a home's value and 15-percent off the next $300,000.

"It is an impossible decision to ask somebody with an economy degree to make. And they're going to ask everyday Floridians to do it," said Rep. Dan Gelber, (D) Miami Beach.

The second part of the plan passed with nearly unanimous support. It requires local governments to reduce taxes and then cap them with allowances for new construction and personal income.