Floridians Expected To Vote On New Property Tax Break
TALLAHASSEE, Fla. (AP) — Florida voters will likely get a chance to vote on a new property tax break.
The Florida Senate on Monday voted 28-10 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 Florida House is expected to approve the proposal later this week, since it's a top priority for House Speaker Richard Corcoran. 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.
Currently homeowners in Florida have an exemption that shields $50,000 of the value of their home from most property taxes.