This bill cuts through that concern by strengthening safeguards against local property tax increases. It changes how local governments calculate the maximum property tax rate they can adopt with a simple majority vote. Under the current system, local governments can increase rates based on growth in Florida's per capita personal income. This bill removes that adjustment and generally limits the maximum possible millage rate increase year over year to the standard Rollback rate. The rollback rate is designed to bring in roughly the same amount of property tax revenue as the year before, meaning local governments won't necessarily be able to increase revenue as quickly as as home values rise. (25:36–25:52)
CLAIM
Asserts that the bill removes the adjustment based on per capita personal income growth and limits millage rate increases to the Rollback rate.
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.
