Amendment 4: Property Tax Limitation; Property Value Decline; Reduction for Non-Homestead Assessment Increases; Delay of Scheduled Repeal
This amendment would limit the allowable growth in the assessments on certain non-homestead properties from 10 percent to 5 percent. It would also prohibit increases in assessed value on homestead properties and some non-homestead properties when market values decrease. It also intends to give first-time homesteaders an extra exemption. The amendment also provides homestead tax exemption benefits to out-of-state residents.
Opponents, including the League of Women Voters of Florida, say the amendment would cost the state $1 billion over its first three years of implementation.
Supporters say the measure would make Florida’s property taxes more fair and that the amendment might stimulate the real estate market.
For complete wording of the amendment, visit the Florida Division of Elections online.