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Voters will consider extending tax cap

Measure would extend tax cap on non-homestead property values

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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.