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Sen. Miller
(Continued from Page 1) have given tax relief to the seller of real estate. The break would be based on inflation factors.
For example, an individual who purchased 10 acres in 1960 for $15,000 sells the property in 1987 for $25,000. Under the Miller indexing gystem, the seller would pot pay tax -on the income because inflation would have negated any profit.
Sen. Miller said colleagues thought it was a good bill but that “it was ahead of its time.”
He believes it will be adopted eventually but declined to say if he’d reintroduce it during another session.
“If I don’t, somebody else will,” he said confidently.
89.1%