Property tax cap under fire
The Sarasota Herald-Tribune recently featured a fascinating series on the controversial Save our Homes Amendment, which caps annual property tax increases at 3% for homestead residents. This amendment shifts a disproportionate amount of the tax burden to second home owners and businesses.
Many existing homeowners that benefit from the amendment are feeling trapped because they do not want to sell their homes and trigger a major tax increase. There is a growing call to add a portability option to this amendment. The challenge for political leaders will be to drive reform without creating revolt among homestead taxpayers.
Save Our Homes Special Report [Herald-Tribune]