TALLAHASSEE, Fla. (AP) - Florida homeowners whose property taxes
rise when market values drop would get relief under a proposal moving through the Legislature.
The proposed state constitutional amendment (HJR 1087) received approval Tuesday from the second of four committees.
It would fix an unintended consequence in the existing Save Our Homes Amendment that limits annual assessment increases to no more
than 3 percent.
But when marker values drop, as they have the last couple years, a "recapture rule" raises assessments by up to 3 percent.
The new amendment would prohibit those increases.
It would go on the 2010 ballot if passed by both chambers.
A similar proposal (SJR 1164) has cleared one of four committees in the Senate.
(Copyright 2009 by The Associated Press. All Rights Reserved.)