Amendment #5 Annual Adjustments to the Value of Certain Homestead Exemptions

September 28, 2024

Ballot Language:

Proposing an amendment to the State Constitution to require an annual adjustment for inflation to the value of current or future homestead exemptions that apply solely to levies other than school district levies and for which every person who has legal or equitable title to real estate and maintains thereon the permanent residence of the owner, or another person legally or naturally dependent upon the owner is eligible. This amendment takes effect January 1, 2025.

 

Synopsis:

Property taxes (millage rates) are set by counties, school districts, cities, and special districts. Homes in Florida are assessed at just value or market value minus the homestead exemption. The homestead exemption reduces the taxable value of a property. A primary residence is eligible for a $25,000 homestead exemption from all property taxes. For homestead’s value between $50,000 and $75,000, another $25,000 homestead exemption is applied, which exempts that amount from all property taxes, except school district taxes.

 

This amendment would apply an annual inflation adjustment for the property tax exemption applied to the value of the homestead between $50,000 and $75,000. The adjustment would be made every year on January 1 (beginning 2025) based on the percent change in the Consumer Price Index (CPI) reported by the U.S. Department of Labor. The adjustment would occur only if the CPI increases. There is no adjustment if the CPI decreases.

 

This amendment would decrease the amount of tax dollars available for counties, cities and special districts budgets for programs and services. Although there would be no impact to school district taxes, the estimated impact on non-school local government property taxes in Fiscal Year 2025-26 (the first year of implementation) would be an approximate reduction of $22.8 million in tax revenue, growing to an approximate reduction of $111.8 million in 2028-29, assuming current tax rates.

 

This amendment was referred to the ballot by the 2024 Florida Legislature. (Senate: 25 Yes to 15 No; House: 86 Yes to 29 No)

 

Supporters, including the majority of the Florida Legislature, say the amendment could lead to more savings for property owners who apply for homestead property tax exemptions.

 

Opponents, including the Florida League of Cities, say the amendment would reduce revenue available to cities and counties by millions of dollars.

 

A Yes Vote Would...: Increase the homestead exemption amount each January 1, beginning 2025, if the Consumer Price Index increases, thereby reducing the amount of property taxes on primary residences and reducing the amount of tax dollars available for county, city and special district programs and services.

 

A No Vote Would...: Leave the current homestead exemption amount as is.

February 2, 2026
The featured presenter at the January 22nd Rivers Coalition meeting was Army Corps of Engineers Jacksonville District Commander Col. Brandon Bowman. He reported: * The Lake Okeechobee management effort is going well. The lake level is currently a near-ideal 13.01 feet. In addition, following last summer’s Lake Recovery Operation, Submerged Aquatic Vegetation (“sea grass”) now covers 20,000 acres of the lake bottom compared with just 3000 acres beforehand. * All stakeholders but one are having their needs met at the present time: The Caloosahatchee River west of the lake isn’t receiving nearly as much fresh water as it needs. * The biggest threat to the St. Lucie Estuary right now isn’t discharges from Lake Okeechobee; it’s polluted runoff flowing into the headwaters of the North Fork. The Corps has several projects underway to address that issue. * The Everglades restoration effort continues moving forward, albeit at a seemingly-glacial pace. To wit: Col. Bowman was happy to announce that the Everglades Agricultural Area projects would be completed five years ahead of schedule – but that still won’t be until the end of 2029. * The big C-44 Reservoir, just north of the St. Lucie Canal in western Martin County, is a key part of the management plan. The reservoir will store runoff and remove phosphorus before discharging the water. Unfortunately, it hasn’t been able to operate at capacity; there’s a seepage issue at one end, and it can only be filled to ten feet compared with its designed fifteen-foot level. The Corps doesn’t think the reservoir will be able to be filled to capacity until 2032. * Finally, Coalition members expressed a great deal of alarm about the Corps’ Engineering Research and Development Center’s plan to develop treatments to remove peroxide and phosphorus from the water. The concern stems from the ERDC’s need to test those treatments, and they have to do the testing in the St. Lucie Canal. There was widespread fear that this could produce harmful results in our canal and our estuary. On the legislative front, Gil Smart, the Friends of the Everglades monitor of the goings-on in Tallahassee, shook his head: “If last year’s legislative session’s theme was facilitating sprawl, this year’s is sprawl on steroids.” A disturbingly large number of bills have been filed that will allow more and more development projects to be subject only to administrative approval rather than, as now, being required to go through a public review process. If these bills pass they will drastically reduce public input on some very big and impactful development proposals -- and completely eliminate it in some cases. As these and other really bad bills get rammed towards the finish line, you will undoubtably be receiving calls for action from your favorite environmental organization. Keep an eye on your inbox. -- Walter Deemer, LWVMC Rivers Coalition Representative
September 28, 2025
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September 1, 2025