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Florida Property Tax, Amendment 4 (2012)

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Property Tax Amendment
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Type:Constitutional amendment
Constitution:Florida Constitution
Referred by:Florida State Legislature
Topic:Taxes
Status:On the ballot

Contents

A Florida Property Tax, Amendment 4 will appear on the November 6, 2012 state ballot in Florida as a legislatively-referred constitutional amendment.

The proposed amendment would prohibit increases in the assessed value of homestead property if the fair market value of the property decreases; reduces the limitation on annual assessment increases to non-homestead property; and provides an additional homestead exemption.[1]

Specifically, non-homestead or commercial property would have their assessment increases capped at 3 percent per year. The property tax rate would also be lowered to 10 percent for rental and 5 percent for commercial properties. According to reports, this will put non-homestead or commercial property owners in line with the benefit received by homestead owners.[2]

Additionally, the measure would implement an additional homestead exemption for first-time buyers equal to 50 percent of the median home price in the county. The additional exemption, however, would be gradually reduced until it expires within 5 years.[2][3]

The proposed measure requires 60 percent voter approval for adoption.


Proposed change to Amendment 4:
In mid-November 2011 Sen. David Simmons proposed legislators amend or replace the language in Amendment 4. Simmons argues that the amendment will "penalize new home ownership." The proposed revision, SJR 314, would lower the super exemption. The super exemption would be tiered at 30 percent for homes under $200,000 and 15 percent for property between $200,000 and $400,000. Simmons has been working with the Florida Association of Counties, opponents of the current proposal, to amend the language.[4][5]

Path to the ballot

See also: Florida law for legislatively-referred constitutional amendments

In order to qualify for the November 2012 ballot the proposed amendment requires approval by a minimum of 60% in the both the House and the Senate.

On May 2, 2011 the House voted 105-11 in favor of referring the proposed measure to the statewide ballot.[6][7][8] On May 4, 2011 the Senate voted 25-12 on the proposed measure; thus referring the proposal to the statewide ballot.[9][10]

Timeline

The following is a timeline of events surrounding the measure:

Event Date Developments
Vote May 2, 2011 The Florida House of Representatives approved the measure, 105 to 11.
Vote May 4, 2011 The Florida State Senate approved the measure, 25 to 12.

See also

By Bailey Ludlam
Ballot measure writer
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Additional reading

External links

Additional reading

References

  1. ↑ Florida House of Representatives,"HJR 381 full text," retrieved April 6, 2011
  2. ↑ 2.0 2.1 The Tampa Tribune,"Senate OKs property tax relief measures," May 4, 2011
  3. ↑ St. Petersburg Times,"House Panel OKs Property Tax Cut for Ballot," March 22, 2011
  4. ↑ Sunshine State News,"Senate Working to Change 2012 Property-Tax Amendment," November 15, 2011
  5. ↑ Orlando Sentinel,"Senate advancing a re-tooled property tax amendment for 2012," November 14, 2011
  6. ↑ Florida House of Representatives,"May 2 vote on HJR 381," retrieved May 4, 2011
  7. ↑ Associated Press,"Fla. House passes tax relief amendment for ballot," May 2, 2011
  8. ↑ The Palm Beach Post,"House passes ballot question meant to reduce taxes on commercial properties," May 2, 2011
  9. ↑ The Palm Beach Post,"Legislature puts four amendments up for vote in 2012," May 5, 2011
  10. ↑ Florida House of Representatives,"May 4 vote on HJR 381," May 4, 2011
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