Florida Amendment 5 2024 Explained

Florida Amendment 5 2024 Explained. Right now, this exemption is a fixed. In florida, homeowners get a tax break called a homestead exemption, which reduces the taxable value of their primary residence.

Florida amendment 5, the annual inflation adjustment for homestead property tax exemption value amendment, is on the ballot in florida as a legislatively referred constitutional amendment on november 5, 2024. Amendment 5 would reduce future property tax revenues for local governments in florida by an estimated $22.8 million in 2025, which would grow to about $112 million by.