— The following is from Florida Home Builders Association President Dave Carter. He is the owner of David C. Carter Consulting Engineers, LLC in Winter Haven.
I couldn’t say it better than one of our legislative housing champions, Rep. Steve Crisfulli, when it comes to why our industry needs to strongly support the passage of Amendment 4, which appears on the November 6 ballot as a proposal that changes our Florida Constitution.
In a guest editorial in major Florida newspapers, Rep. Crisfulli points out that changes in our Florida’s property tax system will boost the state’s housing market and have little negative impact on local governments.
Amendment 4 will create an additional homestead exemption for first-time homebuyers and reduce the cap on valuation increases for non-homestead properties from 10 percent to 5 percent. It also contains a provision that will stop the “recapture,” the painful process by which property taxes rise even when the value of the home declines.
These thoroughly researched changes will encourage more qualified buyers to invest in a Florida home. The additional homestead exemption contained within Amendment 4 will benefit prospective homebuyers, current homeowners and Florida’s small businesses by giving incentives to qualified homebuyers.
More qualified buyers purchasing homes means increased values for everyone and more customers for small businesses, which provide home-related products and services.
Rep. Crisfulli points out that in addition to being friendly to homeowners, consumers and small businesses, the measure’s additional homestead exemption and the lower assessment cap leave school funding untouched.
He points that Florida TaxWatch, an independent watchdog group focused on bringing positive fiscal and economic benefits to Florida, analyzed the long-term effects of Amendment 4. It determined that, if passed, Amendment 4 would create 20,000 more Florida jobs, increase the state’s GDP by $1.1 billion and boost personal wealth in Florida by $5.3 billion over 10 years.
Please go to the polls on November 6 and vote yes for Amendment 4 and encourage your friends, employees, and associates to do the same. It will be good for business.