A series of proposals aimed at eliminating or reducing non-school homestead property taxes advanced out of a House committee on Thursday, as local-government officials warned about having to decrease services because of potentially billions of dollars in lost revenue.

JACKSONVILLE, Fla. – Florida Amendment 5 involves extending your homestead exemption. To understand what is at stake here, you need to first understand what the Save Our Homes amendment is. That’s significant because the assessed value of your home is what determines how much you owe in property taxes each year. NEWS4JAX VOTER’S GUIDE | Florida Amendment 5: Limit on Homestead ExemptionSo what does that have to do with Amendment 5? If you do not think homeowners should be given more time to use that property tax savings, then you should vote “no” to Amendment 5.

In 1992, voters approved Save Our Homes, which caps tax increases at 3 percent on homesteads and saves homeowners about $5 billion a year. Voters have also approved approved citizen initiatives that include term limits, stopping workplace smoking, limiting class sizes, drawing legislative districts fairly, conserving water and land, medical marijuana and giving nonviolent felons the right to vote again. But any future amendments could be be stifled by Amendment Four on November’s ballot. The amendment would require voters to approve amendments twice, two years apart, before they become law. “So having it go before the voters twice is saying, are your sure?

In 1992, voters approved Save Our Homes, which caps tax increases at 3 percent on homesteads and saves homeowners about $5 billion a year. Voters have also approved approved citizen initiatives that include term limits, stopping workplace smoking, limiting class sizes, drawing legislative districts fairly, conserving water and land, medical marijuana and giving nonviolent felons the right to vote again. But any future amendments could be be stifled by Amendment Four on November’s ballot. The amendment would require voters to approve amendments twice, two years apart, before they become law. “So having it go before the voters twice is saying, are your sure?