Amendment 2 limiting property tax assessments passes
ORLANDO, Fla. – Amendment 2 passed with 66 percent of the vote to keep current provisions that cap property tax assessment increases to 10 percent each year on non-homestead property, which are properties not used as primary residencies.
The amendment aimed to put in place permanent protections for renters, business owners and consumers so they are not affected by tax increases.The 10 percent cap was placed in 2008 to provide tax protection against rising property values, which was set to repeal automatically on Jan.1, 2019.
The Florida Tax Watch, small businesses and the Florida Association of Realtors have shown support for the amendment.
In opposition, the League of Women Voters of Florida stands against the amendment because of its position that no tax revenue should be prohibited in the Constitution.
For more information on amendments, click here.
Copyright 2018 by WKMG ClickOrlando - All rights reserved.