Florida Republicans want voters to know that Amendment will help renters and homeownership affordability.
The Republican Party of Florida said that Amendment 3 puts Florida renters and homeowners first by limiting property-tax pressure on rental properties, creating a pathway for direct renter tax relief, and substantially reducing the property-tax burden of homeownership.
For rental and other covered non-homestead property, Amendment 3 cuts the annual assessment-growth limit from 10 percent to 5 percent. It also expressly gives the state legislature the authority to provide property-tax relief directly to permanent-resident renters.
According to the Republican Party, for Floridians ready to make the move from renting to owning, Amendment 3 reduces one of the significant ongoing costs of homeownership by increasing the homestead exemption for non-school property taxes from $50,000 to as much as $250,000.
But Democrats are warning against voting for the amendment, saying that Amendment 3 could shift the tax burden to renters in Florida. Republicans disagree completely with that report.
“Florida’s property-tax system should work for the people who call our state home, whether they’re renting today, buying their first home tomorrow, or have owned their home for decades,” Florida GOP Chairman Evan Power stated. “Amendment 3 strengthens protections on rental property by cutting the annual assessment-growth limit on covered non-homestead property from 10 percent to 5 percent. It gives the Legislature the ability to provide property-tax relief directly to Florida renters. And when a renter becomes a homeowner, Amendment 3 substantially reduces the property-tax burden that comes with owning that home.”
The Republican Party of Florida also emphasized the relief Amendment 3 could provide Floridians:
“For too many Floridians, the cost of owning a home doesn’t end when they get the keys,” Florida GOP Chairman Evan Power stated. “Property taxes remain a significant ongoing expense. Increasing the homestead exemption from $50,000 to as much as $250,000 means substantially more of a qualifying Florida homeowner’s property is protected from non-school property taxes.
“Amendment 3 addresses both sides of the affordability equation: protecting renters today and reducing the property-tax burden of homeownership tomorrow.”
RELATED: New Report: Amendment 3 Would Be Devastating for Renters in Florida
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