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Amendment 2: What it means for you and your income

Posted at 4:22 PM, Oct 08, 2018

Before you vote in the November election, ABC Action News is helping you cut through the confusing language on the ballot.

Amendment 2 affects you in so many different ways.

If you rent, if you shop, if you work for — or own a business, the outcome impacts your income.

Amendment 2 is all about keeping the current limit on property taxes for non-homestead properties.

That means all commercial property which can be everything from businesses and rental properties to second homes.

10 Years ago, Florida voters approved the cap on property tax increases, but now that cap is set to expire next year unless Amendment 2 passes.

“All that amendment does is takes the current law that’s already in the books,” says Florida House Speaker Richard Corcoran, who led the push to put Amendment 2 on the ballot. Corcoran says if it fails, taxes will go up and businesses will pass on the cost to renters and consumers.

“When you raise that, guess what they are not doing, they are not investing in capital, they are not hiring more people, they are not giving people raises, it would stagnate our economy if they were to fail,” he says.

But Amendment 2 does have opposition from groups who say it’s another of corporate welfare for businesses, leaving the middle class shouldering the tax burden.

“We don’t want the limitation of revenue put in the state constitution,” says Shirley Arcuri, with the Hillsborough County chapter of The League of Women Voters. 

Critics of Amendment 2 say State Lawmakers are essentially passing off their responsibility onto local governments.

“I think it’s a matter that’s best left to the legislature when they do their annual budget,” says Arcuri.

All amendments need 60 percent of the vote to pass.

And If voters do approve Amendment 2, the limitation on property tax increases would be permanent, no expiration date this time.