Voters will consider extending tax cap
Measure would extend tax cap on non-homestead property values
TALLAHASSEE, Fla. – Florida voters next year will decide whether to extend a tax cap on the values of non-homestead properties.
The Senate on Wednesday unanimously approved a proposed constitutional amendment (HJR 21) that was passed last month by the House.
The measure will go on the November 2018 ballot.
Voters in 2008 approved a constitutional change that placed a 10 percent cap on annual increases in assessed values of non-homestead properties.
The limit will expire Jan. 1, 2019, unless it is extended by voters.
Senate sponsor Tom Lee, R-Thonotosassa, said failure to extend the cap would effectively lead to a $688 million tax increase.
News Service of Florida