- November 23, 2024
-
-
Loading
Loading
This November, the Florida Legislature will present you, the voter, with 11, yes 11, proposed amendments to the Florida Constitution.
I suggest you do some reading before you head to the polls, because five of these directly affect local governments. In my mind, the most troubling of these is Amendment 4.
Amendment 4 proposes significant changes to the assessment limits on commercial properties, vacant properties and second homes. It gives first-time homebuyers an additional homestead exemption and allows the Legislature to prohibit increases in the assessed value of a property if the “just value” of the property decreases.
Proponents of Amendment 4 contend that it will be an economic stimulus, promoting home building and home sales. Probably this is why the Florida Realtors Association is supporting this amendment, even though many local Realtors are not. Based on my experience (and the demographics of Palm Coast), I think the real factor in determining whether someone builds or buys here has more to do with being able to sell their existing home elsewhere — something that this amendment cannot address. What Amendment 4 does do is take a complex (and arguably already unfair) tax system and make it even worse! How so, you ask?
Over the years some residents have said to me: “I wouldn’t mind paying a little more in taxes if I got … ” and then they fill in their favorite project — better roads, new parks, street lighting, whatever. But imagine if you had to pay even more in taxes — just to maintain the status quo!
Amendment 4 does just that. It does not reduce the costs of providing local services; it simply shifts the existing costs onto new and growing businesses, while providing special benefits to out-of-state and non-homestead property owners. By shifting the cost of providing public services to the long-time Florida residents, Amendment 4 hurts those who already live and work here.
Florida’s property tax system is already riddled with inequities; this amendment only makes it worse by adding yet another category of special interest properties.
In summary, I think that Amendment 4 is a bad idea because it will:
— Work against Palm Coast’s attempts to stimulate new and growing businesses.
— Make the state’s already confusing property tax system even more complicated.
— Shift more of the costs of Palm Coast government to already-homesteaded residents.
— Provide unfair special benefits to out-of-state and non-homestead property owners.
But if, after reading up on this issue, you still buy into the notion that somehow, Tallahassee’s Amendment 4 will work as an economic stimulus, just remember that you will be funding their experiment!
Jon Netts is the Mayor of Palm Coast.
