HB 21 & SB 76-Relating to Limitations on Property Tax Assessments
On Tuesday, February 21st, HB 21, relating to Limitations on Property Tax Assessments, by Representative Colleen Burton (R-Lakeland) was heard in the House Ways & Means Committee and was reported favorably with a vote of 16 yeas to 1 nay. AIF stood in support of this bill.
On Wednesday, February 22nd, SB 76, the Senate companion to HB 21, sponsored by Senator Tom Lee (R-Brandon) was heard in the Senate Appropriations Subcommittee on Finance and Tax and unanimously passed by a vote of 5 yeas to 0 nays. 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. HB 21 and SB 76 propose 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.
HB 21 will go to its second committee stop in the House Commerce Committee.
SB 76 will also go to its second committee stop to be heard by the full Senate Committee on Appropriations.
AIF SUPPORTS a permanent 10% property tax cap on second homes and commercial property.