I usually stay away from politics and religion but can’t stay away when there’s a critical amendment on our ballots that needs to be further explained.
Amendment 2 Explained
Voting yes for this amendment will preserve the decade-old 10% cap on annual property tax increases of non-homesteaded properties. In other words, it will prevent non-homesteaded property taxes from increasing more than 10%.
Call me crazy but 10% is a huge chunk! It’s not like this amendment will limit municipalities’ tax bases. This will apply to investment properties, vacation properties and second homes which make up a large portion of our real estate, especially in South Florida.
Who will Amendment 2 Help?
Amendment 2 limits the tax burden on residents and families, protects renters from rent increases brought on by higher taxes, and ensures Florida remains an affordable place to live, work, and do business.
This cap was approved overwhelmingly by Florida voters 10 years ago and its renewal is on the ballot again.
What Amendment 2 is not
Amendment 2 is not a tax cut! It will not impact funding for local services such as schools or emergency services.
Amendment 2 facts
- In 2008, voters approved a constitutional amendment that limited how much certain property taxes could increase each year. In 2019, that yearly cap will expire unless Amendment 2 passes on the November 2018 ballot.
- Amendment 2 keeps a cap already in place, on how much local governments can increase certain property taxes each year.
- If Amendment 2 doesn’t pass and the cap isn’t renewed, non-homestead property taxes could increase by unlimited amounts each year. Local mom-and-pop stores could see their property taxes increase by 30%, 50%, or even higher – and that would be devastating. Renters could also see their rents skyrocket as landlords pass the extra taxes on to them.
- Amendment 2 has no direct impact on homestead exemptions. It only affects those that own non-homestead property.
- Non-homestead property is any property that does not have a homestead exemption or other special exemptions under Florida law. Common examples include businesses, rental properties, and second homes.
- Funding for our schools will not be affected by Amendment 2.
- Amendment 2 is not a tax cut for the rich. It benefits all Floridians by keeping in place a yearly cap on certain property taxes, which was overwhelmingly approved by voters a decade ago.
VOTE YES for Amendment 2 on the November 2018 Ballot!