Title
RESOLUTION NO. 24R-01-15: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL, FLORIDA OPPOSING A NUMBER OF PROPOSED BILLS BEFORE THE FLORIDA LEGISLATURE WHICH SEEK TO INCREASE THE HOMESTEAD EXEMPTION FROM $50,000 TO $75,000 WHICH WOULD REDUCE THE OVERALL COLLECTIBLE HOMESTEAD PROPERTY TAX ASSESSMENTS BY THE CITY OF LAUDERHILL AND WHICH WOULD ULTIMATELY RESULT IN THE NEED TO INCREASE THE TAX RATE; IMPLORING THE FLORIDA LEGISLATURE TO OPPOSE ANY SIMILAR LEGISLATION;AUTHORIZING AND DIRECTING THE CITY CLERK TO TRANSMIT THIS RESOLUTION TO THE APPROPRIATE PARTIES; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY VICE MAYOR, LAWRENCE “JABBOW” MARTIN).
Body
Request Action:
Request that the Florida Legislature oppose the various bills being proposed which would seek to increase the Homestead Exemption from $50,000 to $75,000 which would reduce the overall collectible homestead property tax assessments by the City of Lauderhill and would ultimately result in the need to increase the tax rate.
Need:
To oppose the various proposed bills which seek to increase the homestead exemption.
Summary Explanation/ Background:
On Monday January 8th, 2024, the Florida House Ways and Means Committee is scheduled to consider three proposed committee bills that would negatively impact homestead property tax revenues for cities. WMC1-2024 and WMC3-2024 consist of a proposed constitutional amendment and implementing bill that would increase the homestead exemption from $50,000 to $75,000, reducing homestead property tax assessments. WMC1-2024 proposes a constitutional amendment and would require the approval of the Florida Legislature and the voters of Florida, and would therefore be on the ballot in November 2024 to also propose this increase in homestead exemption. The Committee will also be considering WMC2-2024 which would apply an annual increase in exemption based upon the Consumer Price Index. Any of these increases would ultimately result in the collection of les...
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