No. 5 Constitutional Amendment Article VII Section 4 and Article XII - Limitation on Homestead Assessments

Summary

This measure proposes an amendment to the State Constitution, effective date January 1, 2021, to increase, from 2 years to 3 years, the period of time during which accrued Save-Our-Homes benefits may be transferred from a prior homestead to a new homestead.

A "YES" vote on amendment 5 is a vote in support of increasing the period of time during which accrued Save-Our-Homes benefits may be transferred from a prior homestead to a new homestead, from 2 years to 3 years, effective date January 1, 2021.

A "NO" vote on amendment 5 is a vote in opposition to increasing the period of time during which accrued Save-Our-Homes benefits may be transferred from a prior homestead to a new homestead, from 2 years to 3 years.

Arguments

"People who sell their houses covered by a homestead exemption have two years to move into a new house and carry that tax break along with them. Except they really don’t. ... To transfer the Save Our Homes exemption, Florida law says a homeowner must have “received a homestead exemption as of Jan. 1 of either of the two immediately preceding years." So someone could easily miss out by selling a home late in the year and then building a new home that isn’t finished by New Year’s of the year after next -- in other words, after only a year and a few days had passed. ... This simple change means that the Constitution would reflect what voters intended, that homeowners could take their exemption with them for two full years or more -- and not lose it in the space of a year and a few days. Lawmakers should put this sensible change on the ballot, and voters should approve the amendment in November.", in support of No. 5 Constitutional Amendment Article VII Section 4 and Article XII (Learn more)

"It obviously hurts the cities and counties because they are going to get reduced taxes.", in opposition to No. 5 Constitutional Amendment Article VII Section 4 and Article XII (Learn more)

"Any reduction in homestead taxes shifts the burden to non-homestead properties — or means a commensurate cut in revenue available for local government and school districts.", in opposition to No. 5 Constitutional Amendment Article VII Section 4 and Article XII (Learn more)

"Florida TaxWatch, a non-partisan government study group, calculates a tax savings of $1,730 per $100,000 valuation on the average Florida home. Revenue loss to local governments would be relatively minor.", in support of No. 5 Constitutional Amendment Article VII Section 4 and Article XII (Learn more)

Measure Details