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Senate Majority Leader says one size does not fit all.
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It would eventually zero-out property tax on primary residences
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The Legislature will tackle the issue come January
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An initiated measure circulating seeks to end local property taxes
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Backers are circulating petitions to put it on the ballot
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The group went on record during its annual meeting.
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It totals over $500 million.
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Proposals have been rolled into one bill.