It's true, it's a homestead exemption increase and it's going to end up eliminating two thirds of taxes for a lot of our homesteaders within the next couple years, which will be really fantastic and really transformational. But On commercial properties, you know, right now they can raise your valuation 10% every year, no questions asked. 10%. This amendment cuts that in half. So right now they can get you for 10%. The amendment passes. It's only 5%. Well, those are the people who would pay taxes on these rental properties in terms of renting it out for folks. (04:35–04:47)
STATEMENT
Asserts that the amendment will reduce the annual valuation increase cap on commercial properties from 10% to 5%.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
