New Bill Could Lower Florida Homeowners' Property Taxes

TALLAHASSEE, Fla. (AP) - Florida homeowners may get an additional $25,000 homestead exemption if voters go along with the proposal. The Florida House Wednesday voted 81-35 to put a constitutional amendment on the 2018 ballot that would allow homeowners to shield an additional $25,000 of the value of their home from most property taxes. 

The additional exemption would not apply to taxes charged by school districts. 

If 60 percent of voters say yes the amendment would take effect in 2019. The proposed amendment is a priority for House Speaker Richard Corcoran. 

The proposal heads to the Florida Senate next. A legislative analysis estimates the amendment would save homeowners nearly $753 million a year.

Currently homeowners in Florida have a homestead exemption that shields $50,000 of the value of their home from most property taxes.

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