FloridaTrend.com, the Website for Florida Business


Florida Amendment 2 - Veterans Tax Relief

Main Sponsors: Sen. Mike Bennett (R-Bradenton) and Rep. Doug Holder (R-Sarasota)

Title: Disabled Veterans Homestead Property Tax Credit

What It Does: Provides a homestead property tax exemption for qualifying disabled veterans that is equal to the veteran’s percentage of disability as determined by the U.S. Department of Veterans Affairs

Background: This amendment expands a previous tax discount for wounded veterans who were residents of Florida when they entered the military to all veterans disabled as a result of combat.

Proponents: The House and Senate

Opponents: No vocal opposition

Budget Impact: About 74,000 veterans may qualify for the benefit, according to the Florida Department of Veterans’ Affairs. The Revenue Estimating Conference estimates the proposal would reduce statewide receipts by about $15 million between 2013 and 2016, and $7.6 million annually after that. On the flip side, the tax break could help stimulate Florida’s housing industry.

» See all of Florida's 2012 Amendments here.