Florida Save Our Homes Amendment

I am just going to copy and paste the info from the article because I am not an expert when it comes to this.

The 1992 amendment to the Florida Constitution – which limits annual assessment increases to 3 percent – has resulted in “sometimes dramatically disproportionate tax burdens” among homeowners and is clearly “an unintended consequence of what has come to be regarded as a flawed policy,” the organization said.

Now, a new constitutional amendment, Amendment 3, will appear on the ballot in November. If approved, it would reduce that 10 percent limit to 5 percent, potentially crippling Florida’s economic future, the TaxWatch report says. It compares that scenario to the way that Proposition 13 has contributed to the near-bankrupting of California.

http://www.bizjournals.com/jacksonville/stories/2010/03/15/daily29.html