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TALLAHASSEE, Fla. – In November, Floridians will have the opportunity to vote on Amendment 5 when they head to the ballot box. Amendment 5 would increase the value of a tax break known as the homestead property tax exemption by adjusting its value to match inflation.
Amendment 5 was created by a joint resolution (HJR 7017) of the Florida Legislature this year. In short, if Amendment 5 is approved by 60% of Florida voters, it would increase the value of homestead property tax exemptions by adjusting their value to match inflation. Florida Realtors® does not currently have a position on this amendment.
Florida Realtors created an infographic to show how the amendment would impact eligible Florida homeowners:
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