An constitutional amendment that will appear on the 2018 ballot would give Florida voters the opportunity to permanently enact a 10 percent cap on annual tax increases for non-homestead property.
The measure, which was placed on next year’s ballot by the Florida Legislature, is getting support from Florida Realtors. The association launched a campaign Wednesday pushing for the adoption of Amendment 2.
The theme of the campaign: “Everybody is for Amendment 2, because Amendment 2 is for Everybody.”
The campaign is intended to signify the importance the measure holds for every citizen of the state.
“Amendment 2 really is good for everybody because if the non-homestead tax cap expires in 2019, every Floridian will be negatively impacted in some way,” says Florida Realtors President Maria Wells. “Whether it’s a business having to increase the cost of their goods and services or tenants having their rent go up a significant amount, communities across the state will suffer.”
The 10 percent cap on non-homestead properties was part of the Save Our Homes portability constitutional amendment voters approved in 2008. But, the 10 percent cap portion of the amendment is set to expire on Jan. 1, 2019.
Prior to the 10 percent cap, a business owner would see their property taxes skyrocket if the value of the property increased significantly compared to the previous year. Owners of investment homes also faced steep property tax hikes, which could be passed along to tenants in the form of higher rents.
Florida Realtors, along with its coalition partners, will conduct a comprehensive, direct-to-voter campaign over the next 14 months aimed at informing voters about the amendment. The realtors estimate more than five million properties in Florida could be impacted by Amendment 2.
“In the current age of partisanship, it’s often difficult to find an issue that people with different viewpoints can agree on, but with Amendment 2 we did just that,” says Carrie O’Rourke, vice president of public policy for Florida Realtors. “The Florida Senate passed it unanimously, and the House was right behind them with 97 percent voting in favor of the referendum. That level of bipartisanship speaks volumes for the widespread benefits Amendment 2 offers.”
For more information about the Florida Realtors campaign in support of Amendment 2 you can go to the campaign’s website, www.EverybodyIsFor2.com which features a video outlining the benefits of the amendment.