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 unanimously by a vote of 12 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. 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.