Florida Constitutional Amendment 1: A Deep Dive
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Florida's Amendment 1 is a proposed constitutional amendment that would provide additional Homestead Property Tax Exemptions for certain homeowners. The amendment will appear on the ballot in the 2022 general election.
What is Amendment 1?
Amendment 1 would create a new property tax exemption for homesteads owned by veterans who are totally and permanently disabled, their surviving spouses, and certain surviving spouses of first responders who died in the line of duty.
The exemption would be capped at $50,000 of assessed value. This means that the maximum amount of property taxes that could be saved under the exemption would be $1,000 per year.
Who is Eligible for the Exemption?
To be eligible for the exemption, homeowners must meet all of the following requirements:
- Own and occupy a homestead in Florida.
- Be a veteran who is totally and permanently disabled.
- Have an honorable discharge from the military.
- Have a service-connected disability rating of 100%.
Surviving spouses of eligible veterans and certain surviving spouses of first responders who died in the line of duty are also eligible for the exemption.
Benefits of Amendment 1
Amendment 1 would provide much-needed property tax relief to eligible homeowners. For many veterans and surviving spouses, this exemption could save them hundreds of dollars each year.
In addition, Amendment 1 would help to keep Florida competitive with other states that offer similar homestead exemptions. This could make Florida a more attractive place to live for veterans and their families.
Arguments Against Amendment 1
There are a few arguments against Amendment 1. Some people argue that the exemption is too generous and that it would benefit wealthy homeowners more than low-income homeowners.
Others argue that the exemption would be too expensive for the state. They estimate that the exemption would cost the state $100 million per year in lost property tax revenue.
Conclusion
Amendment 1 is a proposed constitutional amendment that would provide additional Homestead Property Tax Exemptions for certain homeowners. The amendment will appear on the ballot in the 2022 general election.
There are both benefits and arguments against Amendment 1. Voters should carefully consider all of the information before deciding how to vote on this amendment.
