Melbourne Area Blog

The new Homestead Exemption will be put before the voter's on January 29th. Although this amendment doesn't go as far as it could, it is a start.

It will double the homestead exemption from $25,000 to $50,000. Importantly, it will also allow portability of the exemption accumulated over the years of owning a home.

For the first time, there will be a "cap" on tax increases for second homes and investment properties. This cap will be set at 10%. Many of us would have preferred the cap tp be 5%, but again this is a start.

Vote "Yes" for the amendment!