Florida Homeowners Could Have Larger Property Tax Exemptions If Amendment Five Passes
Amendment Five on the 2022 ballot would increase the homestead property tax exemption from $50,000 to $100,000.
This would save homeowners an average of $220 per year in property taxes.
The amendment also includes a provision that would cap the annual increase in assessed property values at 3%.
This would help to prevent homeowners from being priced out of their homes due to rising property values.
Amendment Five was placed on the ballot by the Florida Legislature and requires 60% of the vote to pass.
A recent poll found that 63% of Florida voters support the amendment.
