Florida Voters in 2018 Will Decide New Property Tax Break

Posted at 3:58 PM, May 02, 2017
and last updated 2017-05-02 15:58:00-04

TALLAHASSEE, Fla. (AP) - Florida voters are going to vote next year on a new property tax break.

The Florida House on Tuesday voted 83-35 to put a constitutional amendment on the 2018 ballot that would allow homeowners to shield an additional $25,000 of the value of their home from most property taxes. The additional exemption would not apply to taxes charged by school districts.

The Senate approved the measure (HB 7105) earlier this week.

If 60 percent of voters say yes, the amendment would take effect in 2019.

If passed, the amendment would save homeowners roughly $644 million a year. Opponents say it will lead to either budget cuts for local governments or higher taxes passed on to renters and business owners.

Currently homeowners in Florida have an exemption that shields $50,000 of the value of their home from most property taxes.

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