It’s your money. And, if Amendment 2 passes, you wouldn’t see property taxes go up more than 10 percent a year on additional properties.
But, this doesn’t include your permanent residence. WINK is dedicated to making sure you know more about the issues before heading to the polls in three weeks.
Southwest Florida is home to some of the most unique and expensive real estate in the country. And, if you’re lucky to own more property than just your home, Florida Amendment 2 is geared specifically to you.
If passed, it would guarantee that property tax assessments on so-called non-homestead properties wouldn’t’ increase by more than 10 percent each year. That includes vacation homes, vacant land and commercial property.
“If you don’t have a cap, then you can make it however you want it,” said Pat Breeden in North Fort Myers. And I don’t think that’s right.”
The amendment has gotten significant financial backing from the Florida Association of Realtors.
“Amendment 2 is for everybody,” heard in the Florida Association of Realtors commercial. “Amendment 2 protects Floridians and keeps their communities whole.”
But, legal expert Pam Seay said you should think hard before including the cap in the constitution.
“Keep in mind, once you have it in the constitution,” Seay said. “It is extraordinarily difficult to get out.”
Critics argue it would deny local governments the benefits of rising property values and shrink local tax bases.
“Shrinking the amount of money that applies to the overall well-being of everyone in the county, you have to look at that as well,” said Caleb Cannon in Fort Myers.
Amendment two will require a 60-percent majority vote to pass. It’s now up to voters to settle the debate.