2018 General Election Guide Archive
FL Amendment 1 – Increased Homestead Property Tax Exemption
Grants an additional $25,000 homestead exemption for homes worth $125,000 or more.
- Allow homeowners to deduct up to another $25,000 from the taxable value of a home worth more than $100,000, starting on Jan. 1, 2019.
- Exclude local school taxes from the new exemption.
- Cost Florida’s cities, counties and other taxing authorities an estimated $687.5 million annually, starting in 2019, according to the Florida Association of Counties.
- Likely result in cuts to services or higher local rates to make up for the revenue losses, or possibly both.
- Retain the current homestead tax exemptions, which total $50,000.
- Have no effect on the amount of tax revenue collected by city and county governments.
- League of Women Voters of Florida
- Florida Policy Institute
- Florida League of Cities
- Progress Florida
- Florida Education Association
- Florida Association of Counties