Florida Constitutional Amendment No. 4

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  1. #1
    Senior Member tag's Avatar
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    Florida Constitutional Amendment No. 4

    PROPERTY TAX LIMITATIONS; PROPERTY VALUE DECLINE; REDUCTION FOR NONHOMESTEAD ASSESSMENT INCREASES; DELAY OF SCHEDULED REPEAL

    Reference:
    ARTICLE VII, SECTIONS 4, 6 & ARTICLE XII, SECTIONS 27, 32, 33


    Summary: http://election.dos.state.fl.us/init.../pdf/10-80.pdf (pdf)
    (1) This would amend Florida Constitution Article VII, Section 4 (Taxation; assessments) and Section 6 (Homestead exemptions). It also would amend Article XII, Section 27, and add Sections 32 and 33, relating to the Schedule for the amendments. (2) In certain circumstances, the law requires the assessed value of homestead and specified nonhomestead property to increase when the just value of the property decreases. Therefore, this amendment provides that the Legislature may, by general law, provide that the assessment of homestead and specified nonhomestead property may not increase if the just value of that property is less than the just value of the property on the preceding January 1, subject to any adjustment in the assessed value due to changes, additions, reductions, or improvements to such property which are assessed as provided for by general law. This amendment takes effect upon approval by the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, shall take effect January 1, 2013. (3) This amendment reduces from 10 percent to 5 percent the limitation on annual changes in assessments of nonhomestead real property. This amendment takes effect upon approval of the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, takes effect January 1, 2013. (4) This amendment also authorizes general law to provide, subject to conditions specified in such law, an additional homestead exemption to every person who establishes the right to receive the homestead exemption provided in the Florida Constitution within 1 year after purchasing the homestead property and who has not owned property in the previous 3 calendar years to which the Florida homestead exemption applied. The additional homestead exemption shall apply to all levies except school district levies. The additional exemption is an amount equal to 50 percent of the homestead property's just value on January 1 of the year the homestead is established. The additional homestead exemption may not exceed an amount equal to the median just value of all homestead property within the county where the property at issue is located for the calendar year immediately preceding January 1 of the year the homestead is established. The additional exemption shall apply for the shorter of 5 years or the year of sale of the property. The amount of the additional exemption shall be reduced in each subsequent year by an amount equal to 20 percent of the amount of the additional exemption received in the year the homestead was established or by an amount equal to the difference between the just value of the property and the assessed value of the property determined under Article VII, Section 4(d), whichever is greater. Not more than one such exemption shall be allowed per homestead property at one time. The additional exemption applies to property purchased on or after January 1, 2011, if approved by the voters at a special election held on the date of the 2012 presidential preference primary, or to property purchased on or after January 1, 2012, if approved by the voters at the 2012 general election. The additional exemption is not available in the sixth and subsequent years after it is first received. The amendment shall take effect upon approval by the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, takes effect January 1, 2013. (5) This amendment also delays until 2023, the repeal, currently scheduled to take effect in 2019, of constitutional amendments adopted in 2008 which limit annual assessment increases for specified nonhomestead real property. This amendment delays until 2022 the submission of an amendment proposing the abrogation of such repeal to the voters.

  2. #2
    Senior Member phlatsphil's Avatar
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    NO
    "The moment we want to believe something, we suddenly see all the arguments for it, and become blind to the arguments against it." George Bernard Shaw

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  3. #3
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    No, we need more local control, not less.

  4. #4
    Senior Member Gary S. Colecchio's Avatar
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    No on 4.
    "If I can't win, I won't play." - Doris Colecchio.

    "Well Gary, the easiest way to look tall is to stand in a room full of short people." - Curtis Bostick

  5. #5
    Senior Member SLW210's Avatar
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    NO

  6. #6
    Senior Member Baits Out's Avatar
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    Explanation: 1) This amendment would reduce the annual growth in assessment limitation on certain non-homestead property from 10% to 5%. 2) It would prohibit increases in the assessed value of homestead property and certain non-homestead property when the market value of the property decreases. 3) It also gives first time homesteaders an additional exemption equal to 50% of the median just value of the property; this exemption diminishes to zero over a five year period.

    Support: The sponsor, Rep. Chris Dorworth, R-Lake Mary, said the measure would help jump start the real estate market. Taxpayers First, a political action committee backed by the Florida Association of Realtors; Florida Chamber of Commerce; Associated Industries of Florida

    Opposition: Some legislators said the tax cuts would strip money away from cities and counties. League of Women Voters: “Amendment 4, if passed, would cost local governments $1 billion over the first three years of implementation.”

    Budget Impact: Assuming millage rates remain the same, local governments stand to lose about $273 million in 2013, with revenue shrinking by $600 million by 2016 (approximately $1 billion over three years). In Palm Beach County, it is projected over 4 years this would amount to an $80 million impact; amongst all govt. entities in the county, the amount increases to $150 million.
    One of the primary functions of good government is to encourage citizens to go out and try their best to be successful.

    To make them comfortable, the desperate and fragile fantasy-land liberal delusions must be shielded from the bright lights of logic and rational thought.

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  7. #7
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    Property taxes are riciculously high, we all need a 50% exemption. Maybe then the county would stop giving away money for first time buyers and all the other BS they blow money on. The county had a backhoe in my block the other day, AIR CONDITIONED, yep we need that along with the 4 wheel drive dump truck.
    Corruption is the enemy. Lobbyists and the FED have ruined the country.

  8. #8
    Senior Member Gardawg's Avatar
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    No ...
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  9. #9
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    This is the SUMMARY!!!!!!!!!!!!!!!!!!!!!!!
    Quote Originally Posted by tag View Post
    PROPERTY TAX LIMITATIONS; PROPERTY VALUE DECLINE; REDUCTION FOR NONHOMESTEAD ASSESSMENT INCREASES; DELAY OF SCHEDULED REPEAL

    Reference:
    ARTICLE VII, SECTIONS 4, 6 & ARTICLE XII, SECTIONS 27, 32, 33


    Summary: http://election.dos.state.fl.us/init.../pdf/10-80.pdf (pdf)
    (1) This would amend Florida Constitution Article VII, Section 4 (Taxation; assessments) and Section 6 (Homestead exemptions). It also would amend Article XII, Section 27, and add Sections 32 and 33, relating to the Schedule for the amendments. (2) In certain circumstances, the law requires the assessed value of homestead and specified nonhomestead property to increase when the just value of the property decreases. Therefore, this amendment provides that the Legislature may, by general law, provide that the assessment of homestead and specified nonhomestead property may not increase if the just value of that property is less than the just value of the property on the preceding January 1, subject to any adjustment in the assessed value due to changes, additions, reductions, or improvements to such property which are assessed as provided for by general law. This amendment takes effect upon approval by the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, shall take effect January 1, 2013. (3) This amendment reduces from 10 percent to 5 percent the limitation on annual changes in assessments of nonhomestead real property. This amendment takes effect upon approval of the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, takes effect January 1, 2013. (4) This amendment also authorizes general law to provide, subject to conditions specified in such law, an additional homestead exemption to every person who establishes the right to receive the homestead exemption provided in the Florida Constitution within 1 year after purchasing the homestead property and who has not owned property in the previous 3 calendar years to which the Florida homestead exemption applied. The additional homestead exemption shall apply to all levies except school district levies. The additional exemption is an amount equal to 50 percent of the homestead property's just value on January 1 of the year the homestead is established. The additional homestead exemption may not exceed an amount equal to the median just value of all homestead property within the county where the property at issue is located for the calendar year immediately preceding January 1 of the year the homestead is established. The additional exemption shall apply for the shorter of 5 years or the year of sale of the property. The amount of the additional exemption shall be reduced in each subsequent year by an amount equal to 20 percent of the amount of the additional exemption received in the year the homestead was established or by an amount equal to the difference between the just value of the property and the assessed value of the property determined under Article VII, Section 4(d), whichever is greater. Not more than one such exemption shall be allowed per homestead property at one time. The additional exemption applies to property purchased on or after January 1, 2011, if approved by the voters at a special election held on the date of the 2012 presidential preference primary, or to property purchased on or after January 1, 2012, if approved by the voters at the 2012 general election. The additional exemption is not available in the sixth and subsequent years after it is first received. The amendment shall take effect upon approval by the voters. If approved at a special election held on the date of the 2012 presidential preference primary, it shall operate retroactively to January 1, 2012, or, if approved at the 2012 general election, takes effect January 1, 2013. (5) This amendment also delays until 2023, the repeal, currently scheduled to take effect in 2019, of constitutional amendments adopted in 2008 which limit annual assessment increases for specified nonhomestead real property. This amendment delays until 2022 the submission of an amendment proposing the abrogation of such repeal to the voters.

  10. #10
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    No.

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