Florida TaxWatch is warning of higher property taxes if voters don't approve a proposal on the November ballot.
Amendment Two extends a current 10 percent cap on annual increases in assessed values of non-homestead properties, which voters approved in 2008.
TaxWatch Director Dominic Calabro says taxes on rentals and commercial property would increase by $700-million per year if the amendment is not approved.
“If you don’t vote ‘yes,’ either you or your neighbors will see massive tax increases and great deal of property tax dissatisfaction … anger even, if we see property taxes jump by 20 percent,” Calabro said at a Tuesday press conference in Tallahassee.
Calabro says homeowners won't be affected, but businesses, part-time residents, owners of undeveloped land and anyone living in a rental unit will be.
Review TaxWatch’s report on the amendment’s impact here.
It’s one of 13 proposals voters will decide in the Nov. 6 general election.