Amendment 5: What is it?

An economics professor with University of Tampa explains how average homeowners could be impacted by Amendment 5.

[bobblacka]

The part of the amendment that concerns me is where it allows the dependents of the owner to file for Homestead Exemptions even when the owner does not reside in Florida. Theoretically, an investor living in Connecticut could buy 8 houses in Florida, then rent them to his aged parents, in-laws, and children, and then still claim a Homestead Exemption, even though the actual owner is not a Florida resident. Eventually, almost every house in Florida would be getting a Homestead Exemption forcing the state to raise property taxes to compensate. If this is not the actual intention of the Amendment, then the wording needs to be clarified to prohibit this practice.

[vicentee]

dose this change any rules for disabled veterans that don't pay property taxes

[SandcastleDreams]

Tied to inflation means that it changes, based upon who is in office. Not a good idea.

[tonyacerra]

Homesteading is very unfair. I am 67 and my taxes are 3 1/2 times higher than my neighbor. I was wondering how everyone affords those new trucks and boats. We should all be equal. Politicians buying votes with taxpayer’s money. They also increased impact fees to $18, 000. Which by the way according to the Supreme Court is illegal under the takings clause of the 5th amendment.