HOW MUCH WILL YOU SAVE?

Your total property tax bill is capped at 1.35% of the TAXABLE VALUE of your property. TAXABLE VALUE is the amount the property appraiser assesses your property at (Just Value) MINUS all exemptions you are eligible for including HOMESTEAD, SPECIAL EXEMPTIONS and SAVE OUR HOMES.

ASSESSED VALUE – EXEMPTIONS = TAXABLE VALUE

*Statewide Average Millage Rate (tax rate) in 2007 is 18.46 or 1.846%. Under this plan that rate is reduced to a maximum of 1.35%, Source: State of Florida 2007 “Florida Tax Handbook."

26% PROPERTY TAX CUT on average for every property owner in the state.

CONSTITUTIONAL AMENDMENT PETITION FORM

Ballot Title:
1.35% property tax cap, unless voter approved

Ballot Summary:
Provides that the total property tax on any parcel of real property shall never exceed 1.35% of the highest taxable value of the property. This property tax limit shall apply to all property taxes except property taxes approved by voters. Distribution of revenue from parcels that have reached the 1.35% limit shall be determined by general law. Does not amend Save Our Homes, the Homestead Exemption, or any other exemption.
 
FULL TEXT OF THE PROPOSED CONSTITUTIONAL AMENDMENT:
Article VII, Section 9 of the State Constitution is amended by adding a new Paragraph (c) to read:
ARTICLE VII FINANCE AND TAXATION
SECTION 9. Local taxes.–
(c) Notwithstanding any other provision contained in this Constitution, the maximum amount of all ad valorem taxes collected by counties,
school districts, municipalities, and special districts on any parcel of real property shall not, when combined, exceed 1.35% of the parcel’s highest taxable value. The term “taxable value” refers to the value of real property to which millage rates are applied. The Legislature shall, by general law, provide for the distribution of tax revenues derived from parcels for which the combined ad valorem tax levies exceed 1.35% of the parcel’s highest taxable value. This subsection does not apply to ad valorem taxes levied for the payment of bonds issued pursuant to Section 12 of this Article or levied for periods not longer than two years when authorized by a vote of the electors.
 
ARTICLE AND SECTION BEING CREATED OR AMENDED
Article VII, Section 9, Paragraph (c)

Please click here to see .pdf document for Limit on Total Property Taxes Paid by Individual Parcels at 1.35% of Taxable Value.