The Florida Finance and Taxation Amendment, also known as Amendment 7, was a commission referral in Florida which was defeated on the ballot on November 7, 1978.
This amendment sought to modify Articles VII and X of the Florida Constitution to revise tax and government finance laws.
| Florida Amendment 7 (1978)|
|Yes|| 779,389|| 36.29%|
Election results via: Florida Elections Division
Text of measure
The language that appeared on the ballot:
||Proposing a revision of the Florida Constitution to provide that property owned by a municipality and held for municipal purposes shall be exempt from taxation; to extend the personal property tax exemption to all natural persons, and to extend to widowers the property tax exemption of not less than five hundred dollars; to provide for ad valorem tax exemption for leasehold interests created priopr to January 1, 1978 in government owned property; to provide that leasehold interests in government property leased for public purposes in connection with air, water or ground transportation may be exempt from taxation as provided by law; to permit adjustments to tax assessments relating to stock in trade and livestock, historic property and solar energy systems; to permit the revaluation of property every two years; to authorize the use of tax abatement and increment for redevelopment of slum and blighted area; to provide that corporate income tax may not be levied against the appreciation of property value occurring prior to November 2, 1971; to permit an annual adjustment to the homestead exemption to maintain a constant value using 1979 as a base year and providing for replacement of revenue to local governments; to provide that state bonds may be used to finance water facilities and may be combined for sale; to provide that revenue bonds may only be issued for fixed capital outlay projects, to place limitations on revenue bonds and bond anticipation notes issued by local governments; and to provide that revenue bonds may be issued for housing and related facilities.