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FL Amendment 5 - Annual Inflation Adjustment for Homestead Tax Exemption
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> United States > Florida > Constitutional Amendments > 2024 Initiatives and Referenda > FL Amendment 5 - Annual Inflation Adjustment for Homestead Tax Exemption
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| Office | |
| Type | Referendum |
| Filing Deadline | January 01, 2024 - 12:00pm |
| Polls Open | November 05, 2024 - 07:00am |
| Polls Close | November 05, 2024 - 08:00pm |
| Term Start | January 01, 2025 - 12:00pm |
| Term End | January 01, 3999 - 12:00pm |
| Contributor | RP |
| Last Modified | Mr. Matt November 15, 2024 04:09pm |
| Data Sources | [Link] |
| Description | As of 2024, in Florida, property tax (millage) rates were set by counties, school districts, cities, and special districts. Homes in Florida are assessed at just value (market value), minus the homestead exemption. The homestead exemption reduces the taxable value of a property. Every primary residence is eligible for a $25,000 homestead exemption, which exempts that amount from all taxes. Another $25,000 homestead exemption is applied on a homestead's value between $50,000 and $75,000, which exempts that amount from all taxes except school district taxes.[2]
The amendment would provide for an annual inflation adjustment for the value of the homestead property tax exemption that applies to non-school taxes. The adjustment would be made every year on January 1 based on the percent change in the Consumer Price Index reported by the U.S. Department of Labor if the change is positive. |
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CANDIDATES |
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| Photo |  |
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| Name |
Yes |
No |
| Party | YES |
NO |
| Votes |  6,686,003 (66.02%) |
3,440,877 (33.98%) |
| Margin | 0 (0.00%) |
-3,245,126 (-32.04%) |
| Predict Avg. | 0.00% |
0.00% |
| Finances | $0.00 |
$0.00 |
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