TAMPA, Fla. - Voters in Florida have rejected/approved Amendment Five, which will give Florida homeowners more leeway in maintaining tax property tax benefits.
ELECTION RESULTS: Florida constitiutional amendments
Florida homeowners receive a $25,000-$50,000 exemption on their primary home (depending on its value), plus a cap on how much it can be taxes known as the ‘Save Our Homes’ cap.
Amendment Five extends the grace period for transferring the ‘Save Our Homes’ cap from two years to three years.
74% percent of Floridians voted in favor of the change, more than the 60% required to pass.
In all, six amendments were on the ballot in Florida this year.
FLORIDA AMENDMENTS EXPLAINED: