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Florida Tangible Personal Property Tax Exemption, Amendment 10 (2012)

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Amendment 10
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Type:Constitutional amendment
Constitution:Florida Constitution
Referred by:Florida State Legislature
Topic:Taxes
Status:Defeatedd

Amendment 10, also known as the Florida Tangible Personal Property Tax Exemption Amendment, was on the November 6, 2012, state ballot in Florida as a legislatively-referred constitutional amendment, where it was defeated. If enacted this amendment would have provided an exemption from ad valorem taxes levied by local governments on tangible personal property that's value is greater than $25,000 but less than $50,000. The measure was sponsored by state Representative Eric Eisnaugle.[1]

Election results

See also: 2012 ballot measure election results
Florida Amendment 10
ResultVotesPercentage
Defeatedd No4,113,39554.51%
Yes 3,432,905 45.49%

These results are certified and final.

Results via the Florida Department of Election's website.

Text of measure

The official ballot text read as follows:[2]

CONSTITUTIONAL AMENDMENT

ARTICLE VII, SECTION 3
ARTICLE XII, SECTION 32


TANGIBLE PERSONAL PROPERTY TAX EXEMPTION.—Proposing an amendment to the State Constitution to: (1) Provide an exemption from ad valorem taxes levied by counties, municipalities, school districts, and other local governments on tangible personal property if the assessed value of an owner's tangible personal property is greater than $25,000 but less than $50,000. This new exemption, if approved by the voters, will take effect on January 1, 2013, and apply to the 2013 tax roll and subsequent tax rolls. (2) Authorize a county or municipality for the purpose of its respective levy, and as provided by general law, to provide tangible personal property tax exemptions by ordinance. This is in addition to other statewide tangible personal property tax exemptions provided by the Constitution and this amendment.

Support

According to the Collins Center for Public Policy, supporters argued that the amendment will give tax relief to small businesses and help grow the economy. They added that it provides a way for local governments to offer further reductions in the business tax.[3]

Opposition

According to the Collins Center for Public Policy, opponents alleged that the measure is a manifestation of an ineffective trickle-down economic theory. They argued that it will drastically reduce the tax base local governments depend on to provide provide basic services.[3]

Path to the ballot

See also: Laws governing ballot measures in Florida

In order to qualify for the November 2012 ballot the proposed amendment required approval by a minimum of 60% in the both the Florida House of Representatives and the Florida Senate.

On March 2, 2012, the house passed the bill on a vote of 112-2, thereby passing it on to the senate.[1]

On March 8, 2012, the senate approved the measure 40-0, it was then filed with the Secretary of State on April 6.[1]

See also

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References