Curt Anderson | USA TODAY NETWORK – Florida
(Correction: This story has been updated to report that the only local tax that will remain untouched is for schools. Public safety and other main services will be affected by the property tax cuts.)
The proposed property tax constitutional amendment Florida voters will consider this fall would reduce or eliminate some taxes, but not all of them. There will still be some property taxes to fund schools and other services such as public safety and infrastructure. That amount varies by location.
If 60% of voters approve the amendment on Nov. 3, beginning in 2027 the first $150,000 of a primary home, or homestead, will be exempt from non-school local taxes, and that exemption rises to $250,000 in 2028 and then will track for inflation.
Under current law, Florida residents can exempt $50,000 in taxable value for their homesteaded property. The proposed amendment applies only to non-school taxes, so that means there will still be a bill in most cases. But less than before.
Confused? Many Florida residents are by the numbers and the calculations.
For details read the full article on tallahassee.com.
Babcock Ranch, Southwest Florida
Click photo to explore.