Oct 25, 2012

Decision Time on the Florida Senior Homestead Tax Exemption Amendment

Among the decisions facing Florida voters this November is passage of Amendment 11. Passed by the Florida House and Senate on a bipartisan basis, the amendment gives the Florida Legislature the power to allow cities and counties to offer up to a 100% homestead exemption to low-income seniors. Currently, the special exemption cap for low-income seniors is $50,000. In order to qualify, the taxpayer must be 65 years of age or older; the home must be worth $250,000 or less; and income must not exceed $27,500. Sixty percent of voters must vote yes in order to pass the measure.

Critics claim that Florida's ailing economy will be further compromised by passage, but proponents say it will help Florida's financially strapped seniors and also attract more people to the state.

Early voting begins Saturday, October 27.

Read more about Amendment 11 here.

No comments:

Related Posts Plugin for WordPress, Blogger...