The JAX Chamber is the latest to oppose Amendment 3, the proposed constitutional amendment that would reduce property taxes by increasing the homestead exemption.
Voters will decide Nov. 3 whether to increase the homestead exemption from its current $50,000 to $150,000 in Fiscal 2028 and $250,000 in Fiscal 2029.
The JAX Chamber said it opposes the amendment because it would benefit only people who own homes.
About 40% of Duval County residents and one-third of Florida residents rent their homes and would receive no direct relief under the amendment, the chamber said in a news release this week. Businesses and commercial property owners also would be excluded from the amendment’s primary benefit.
At the same time, cities and counties would need to fund essential services, which could mean reducing services, adding fees, raising tax rates on non-homesteaded property, increasing the property tax millage rate or combing such measures, the news release said.
“As a result, renters, businesses, and commercial property owners ultimately could bear a greater share of the cost,” the chamber said.
Read the full news article on Jax Today