Florida's Property Tax Relief Amendment 1 passed yesterday! That is a victory for Governor Crist and for Florida's homeowners! The final tally showed 64% of those that voted were in favor of Amendment 1, backing the governor.
With the passing Amendment 1 Florida homeowners will receive an additional $25,000 homestead deduction on their 2008 property tax bills. There will also be a new $25,000 exemption for some businesses and mobile home properties.
In addition to this, non-homesteaded property can only have assessment increases of 10% max annually. This is a win for Florida homeowners!
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