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Florida Amendment 4: What a Yes Vote Means

Take a closer look at the proposed amendment to the Florida Constitution before you head to the polls Nov. 6.

Whether you head to the polls Nov. 6 to cast your vote or you’re planning on voting early, you can count on having to decipher a very long ballot. In addition to national, state and local candidates, this year’s ballot also includes a number of proposed amendments to the Florida Constitution.

To help speed up the process at the polls, Westchase Patch has created a guide on each of the amendments. Let’s take a look at Amendment 4 and what a yes vote on it means at the polls.

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.

What a Yes Vote Means

A vote of yes on this amendment is a show of support for its passage.

For complete wording of the amendment, visit the Florida Division of Elections online.

 

Sheila Anderson October 11, 2012 at 12:48 PM
In fact Amendment Four will result in shifting the tax burden to homesteaded taxpayers because it means millage rates will increase OR other forms of taxation such as non ad valorem "involuntary exactions" will be increased or added. IF the real estate market was affected by caps on assessments, there wouldn't be so many foreclosures. IF caps on assessments made taxation more fair, there wouldn't be so many disparities, and even more will come if this measure is adopted. In fact, the same arguments were made by the Realtors on "portability" and that didn't work either. What makes real estate markets vibrant is supply and demand. So those who are promoting this ought to go back to their first classes before they were able to get a license, where "supply and demand" were taught to them, and they ought to follow their education instead of trying to do things about which they know nothing. Sheila M. Anderson, Realtor www.commercialpropertyservices.co www.floridapropertytaxappeals.com

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