Florida Amendment 1: Why legislators support it, local governments oppose it
Topping the lengthy list of proposed constitutionalamendments voters will decide on Nov. 6 is one that could mean a tax break of about $250 for some homeowners but also could leave local governments scrambling to make up for budget gaps due to the lost revenue.
Amendment 1 would add an extra $25,000 homestead exemption on homes with taxable values above $100,000. Renters and those who own homes with an assessed value under $100,000 wouldn't see a benefit, opponents of the measure say.
"It's pitched as a tax cut, but at best it's a tax shift," said Joe Pennisi, chairman of the political action committee Floridians for Tax Fairness, which is preparing a campaign to defeat the proposed amendment. "It's a bad deal for most Floridians...