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Finance and Taxation

Reference:
Revision of Article VII; Article X, Section 12(h)

Summary:
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Proposing a revision of the Florida Constitution to provide that property owned by a municipality and held for municipal purposes shall be exempt from taxation; to extend the personal property tax exemption to all natural persons, and to extend to widowers the property tax exemption of not less than five hundred dollars; to provide for ad valorem tax exemption for leasehold interests created priopr to January 1, 1978 in government owned property; to provide that leasehold interests in government property leased for public purposes in connection with air, water or ground transportation may be exempt from taxation as provided by law; to permit adjustments to tax assessments relating to stock in trade and livestock, historic property and solar energy systems; to permit the revaluation of property every two years; to authorize the use ot tax abatement and increment for redevelopment of slum and blighted area; to provide tha corporate income tax may not be levied against the appreciation of property value occuring prior to November 2, 1971; to permit an annual adjustment to the homestead exemption to maintain a constant value using 1979 as a base year and providing for replacement of revenue to local governments; to provide that state bonds may be used to finance water facilities and may be combined for sale; to provide that revenue bonds may only be issued for fixed capital outlay projects, to place limitations on revenue bonds and bond anticipation notes issued by local governments; and to provide that revenue bonds may be issued for housing and related facilities.

Sponsor:
Constitution Revision Commission

Status: Defeated
Made Ballot:  
Ballot Number: 7  
Election Date: 11/07/1978 
 Votes For: 779,389   
 Votes Against: 1,368,346   




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