Florida Tax Collectors Brochure.pub

“Save Our Homes” Constitutional Amendment Section 4, Article VII

In 1992, the voters of this state passed Amendment 10 to the State Constitution that provided for limiting increases in homestead property valuations for ad valorem tax purposes. The ballot title was “Homestead Valuation Limitation”, but the grassroots initiative was known as “Save Our Homes”. All persons entitled to a homestead exemption under Section 6 of Article 7 of the Florida Constitution shall have their homesteaded property assessed at just value as of January 1 of the year following the effective date of this amendment, which was 1994. The assessed value shall change annually only as follows, whichever is lower:

1) 3% of the assessment for the prior year. 2) The percentage change in the consumer price index.

This limitation does not include any changes, additions, reductions or improvements to the homesteaded property.

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