SB 76-Relating to Limitations on Property Tax Assessments
On Wednesday, April 12th, SB 76, by Senator Tom Lee (R-Brandon) was heard in the Senate Committee on Rules and passed. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this bill.
In 2008, Florida voters approved Amendment 1 which, among other things, created a 10% cap on the annual increase of property taxes for all non-homestead properties. However, this amendment included a sunset provision that goes into effect on Jan. 1, 2019. SB 76 proposes a constitutional amendment be added to the ballot during the 2018 General Election to let the voters decide in making this cap 10% tax cap permanent.
SB 76 will now go to the Senate floor to be heard.
AIF SUPPORTS a permanent 10% property tax cap on second homes and commercial property.