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Outcome of Amendment 1-Tampa, Florida

(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
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Amendment 1 is projected to cost local governments more than $9 billion over five years. That includes a $1.5 billion reduction for schools.

See also:
Statistics on Housing Market
Housing Market News-Tampa, Fl
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Posted in: Real Estate News & Info Tagged: Florida Property Tax Portability, homestead tax exemption, property tax update, Vote Yes on 1

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