HomeMy Public PortalAboutRES 04/08RESOLUTION 004 -08
A RESOLUTION OF THE TOWN COMMISSION OF THE TOWN OF
GULF STREAM, FLORIDA, OPPOSING AN AMENDMENT TO THE
FLORIDA CONSTITUTION THAT WOULD RAISE FLORIDA'S
HOMESTEAD EXEMPTION TO $50,000.
WHEREAS, Florida's property tax continues to be a
strong source of revenue for most local governments; and
WHEREAS, Florida currently has a homestead exemption in
which $25,000 can be deducted from the assessed value of a
primary residence, for the purpose of paying property tax;
and
WHEREAS, in 1992, Florida's voters approved the Save
Our Homes amendment, which limits the increase in the
assessed value of a primary residence to no more than 3
percent a year or the amount of the consumer price index
(CPI), whichever is less; and
WHEREAS, in 1998, Florida voters approved an additional
constitutional amendment that allows cities and counties to
give an additional $25,000 homestead exemption to low income
senior citizens; and
WHEREAS, efforts are currently underway by a group
called Families for Lower Property Taxes, to place an
amendment on the November 2004 general election ballot that
would increase Florida's current $25,000 homestead exemption
to $50,000; and
WHEREAS, if this amendment is approved, the Town of
Gulf Stream would suffer a loss of $23,645.00 and would be
forced to respond to this loss by reducing vital city
services to its citizens, or by raising other fees and taxes
to continue these vital services.
WHEREAS, this amendment would have a greater impact on
local governments who are at or near the 10 mill cap for ad
valorem taxes and would not be able to raise their property
taxes to make up for this loss in revenue; and
WHEREAS, this amendment negatively impacts non -
homesteaded residential properties and commercial properties
that do not receive any homestead exemption, because they
would face higher property taxes if the millage rate were to
increase; and
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COMMISSION
OF THE TOWN OF GULF STREAM, FLORIDA, AS FOLLOWS:
Section 1. That the Town of Gulf Stream opposes the
Homestead Exemption amendment and urges its citizens not to
sign petitions supporting its placement on the November
ballot.
Section 2. The Town of Gulf Stream urges voters to
oppose this initiative on the November general election
ballot.
PASSED AND ADOPTED THIS 16th day of July 2004.
TOWN OF GULF STREAM
1�1AYOR CID MI.,S S I ONER
(SEAL)
ATTEST:
TOWN CLERK
ISSIONER
COMMISSIONER
COMMISSIONER