(Bay News 9) — Florida voters have given a thumbs up to Amendment 1.
About 65 percent of voters voted yes on the amendment. The measure required of super majority of 60 percent to pass.
The property-tax cutting constitutional amendment will double the homestead exemption for primary homes except on school taxes and provide an average tax savings of $240 a year.
It will also deliver smaller reductions for businesses, second homes and other non-homestead properties.
Plus, it will let primary homeowners take their Save Our Homes tax benefits when they move. Gov. Charlie Crist pushed for the proposal.
Latest numbers from the election results page
Click the drop down box in the upper right
Choose your location
Click on the race(s) you’re following on the left
Amendment 1 is projected to cost local governments more than $9 billion over five years. That includes a $1.5 billion reduction for schools.
Statistics on Housing Market
Housing Market News-Tampa, Fl
Looking to Buy?
To receive more articles like this one subscribe to our Blog!
Enter your Email Address
Powered by FeedBlitz