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Florida Amendment 11 - Senior Homestead Tax Exemption

(Mark Foley)

Main Sponsors: Sen. Rene Garcia (R-Hialeah) and Rep. Jose Oliva (R-Hialeah/Miami)

Title: Additional Homestead Exemption

What It Does: Allows counties and municipalities to grant an additional homestead tax exemption equal to the assessed value of the homestead property for low-income senior citizens

Background: Homeowners who are 65 years or older with an annual household income less than $27,030 who live in homes with a just market value of less than $250,000 would get the exemption. The owner must have the title to the property and must have maintained a permanent residency at that home for at least 25 years.

Proponents: Passed the House and Senate unanimously

Opponents: None known

Budget Impact: Will cost local governments an estimated $9.1 million in fiscal year 2014-15 and $9.4 million in 2015-16

» See all of Florida's 2012 Amendments here.