Florida "Super Exemption" Tax Break (2008)

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The Florida "Super Exemption" Tax Break did not appear on the January 29, 2008 statewide ballot in Florida as a legislatively-referred constitutional amendment. The measure was struck down after a circuit court judge ruled that the measure should not be placed on the ballot because it was "misleading and inaccurate."

Summary

Proposed amendments to the State Constitution to increase the homestead exemption from $25,000 to 75 percent of the just value of the property up to $200,000 and 15 percent of the just value of the property above $200,000 up to $500,000, to subject the $500,000 threshold to annual adjustments based on the percentage change in per capita personal income, to authorize an increase in the $500,000 threshold amount by a two-thirds vote of the Legislature, and to specify minimum homestead exemption amounts of $50,000 for everyone except low-income seniors and $100,000 for low-income seniors; to provide for transitional assessments of homestead property under the increased homestead exemption that include preserving application of Save-Our-Homes provisions until an irrevocable election is made; to revise Save-Our-Homes provisions to conform to provisions providing for the increased homestead exemption and transitional assessments of homestead property; to require the Legislature to limit the authority of counties, municipalities, and special districts to increase ad valorem taxes; to authorize an exemption from ad valorem taxes of no less than $25,000 of assessed value of tangible personal property; to provide for assessing rent-restricted affordable housing property and waterfront property used for commercial fishing, commercial water-dependent activities, and public access at less than just value; and to schedule the amendments to take effect upon approval by the voters and operate retroactively to January 1, 2008, if approved in a special election held on January 29, 2008, or shall take effect January 1, 2009, if approved in the general election held in November of 2008.

Removed From Ballot

The largest tax break in Florida history was removed from the primary ballot after the Circuit Court of the Second Judicial Circuit in and for Leon County, Florida declared that the ballot summary for the proposed amendments relating to Ad valorem Taxation: Assessments, Exemptions, Limitations, and Homesteads proposed by Senate Joint Resolution 4B misleading and inaccurate and should not be placed on the ballot for a special election scheduled January 29, 2008. .[1]

The property tax exemption was challenged by Weston Mayor, Eric Hersh. The Mayor said most voters would be unaware that a vote for the plan would eventually eliminate the Save Our Home tax break.[2]

See also

References