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Know Your Amendments on the 2018 General Election Ballot

>>  Will you qualify for Amendment 1?

>>  (PowerPoint) Presentation of the State Constitutional Amendments to Appear on the 2018 General Election Ballot

Frequently Asked Questions 

Do you qualify for this exemption?

• Less than half (43%) of statewide homesteaded property owners would benefit. (Source: Florida TaxWatch, A Florida TaxWatch Briefing)
  
• To find out if you even qualify, visit: Website by Florida County Property Appraisers:  https://3hxestimator.org/hb3/hb3.php​

Could the exemption result in higher taxes or fewer services?

• Palm Beach County Government would see an approximate $37 million reduction in property tax revenues. A budget shortfall could affect services.
• Non-homesteaded and commercial properties would not be eligible for tax savings. This could result in a future tax burden placed on local business owners, non-homesteaded property owners, and renters if that burden is passed along, as policymakers would have to choose between more taxes or fewer services.
• Citizens could see a reduction in services: with all other factors remaining consistent, the additional exemption means that cities and counties would have two choices: 

1. Maintain the current millage rates and make tough choices about reducing the services provided to their citizens; or
2. Increase taxes to make up for the potential revenue shortfall.

How does the exemption work? 

• Since the proposed exemption could make Florida's property tax system more complicated, make sure you visit the website above to see if it applies to you.
• The exemption applies to the assessed value of a homesteaded property greater than $100,000 and less than $125,000. It would not affect the existing homestead exemptions in place that exempt assessed values between $0 and $25,000 and between $50,000 and $75,000. If the assessed value of your homestead property does not exceed $100,000, the exemption would not apply to your home.
• The exemption does not apply to school taxes.
• The exemption does not apply to businesses and could create a higher tax burden for small businesses; everything from pet stores and dry cleaners to retailers and restaurants.
• It could expose small businesses to bigger tax hikes later because a business's taxable value grows faster than that of a home. That means business owners could shoulder a larger share of the tax burden.