Homestead Exemption Update: Florida Voters to Consider Inflation Protection Amendment

Florida Amendment 4 on the November Ballot

Voters in Florida will have the opportunity to vote on Amendment 4 in the upcoming November election. This amendment would provide an additional homestead exemption for property owners who are facing financial hardship due to inflation.

The homestead exemption is a state law that allows homeowners to exempt a certain amount of their property value from taxation. This can save homeowners a significant amount of money on their property taxes.

Amendment 4 would increase the homestead exemption by $50,000 for homeowners who are over the age of 65 or who are disabled. This would provide an additional tax break for these homeowners who are often on fixed incomes.

The amendment also includes a provision that would allow the homestead exemption to be increased in the future if inflation continues to rise. This would help to ensure that homeowners are not penalized for inflation and that they can continue to afford their homes.

Support for Amendment 4

Amendment 4 has been endorsed by a number of organizations, including the Florida Association of Realtors, the Florida Chamber of Commerce, and the Florida Farm Bureau. These organizations believe that the amendment would provide much-needed relief to homeowners who are struggling to keep up with rising costs.

A recent poll found that 65% of Florida voters support Amendment 4. This indicates that there is strong support for the amendment among voters of all political persuasions.

Opposition to Amendment 4

There is some opposition to Amendment 4 from groups that believe that it would cost the state too much money. However, the Florida Legislature has estimated that the amendment would only cost the state about $50 million per year. This is a relatively small amount of money compared to the state's overall budget.

Overall, there is strong support for Amendment 4 among Florida voters. The amendment would provide much-needed relief to homeowners who are struggling to keep up with rising costs. It is likely that the amendment will pass in the November election.