Voters, Don't Bypass These Elections

Early voting for the Florida primary starts today. This election has important issues not just for registered Democrats and Republicans but also Independents.

For partisan voters, from today until Jan. 29, is the opportunity to decide the party nominee for president. While registered Independents in Florida bypass that option, this year, they will have the chance -- like other voters -- to cast their ballot on whether the state should adopt property tax changes to address runaway ad valorem taxes.

The property tax referendum seeks to double existing $25,000 homestead exemption for homes valued at more than $50,000 but only for non-school taxes. It also would let homeowners take their Save Our Homes benefits along with they move. Other provisions would give businesses a break on taxes they pay on equipment and other personal property, and put a 10 percent cap on annual assessment increases for non-homestead properties.

The ballot provision is more far-reaching than just the doubling of the homestead exemption for some voters. If passed, homeowners will be able to use their existing 3 percent cap on the appraised value of their home, on a new house they might buy. There are also benefits for businesses along with a 10 percent cap on annual assessment increases for non-homestead properties, although average increases in taxable value of such homes have been less than 10 percent.

The long-term ramifications of such a measure passing remains unknown.

The hope is that it will revive the real-estate market in Florida, and give homeowners locked into their homes the freedom to move into bigger or smaller homes without the fear of being taxed out of their new residence. It will also lower the property tax burden of homes valued over a certain amount.

But the expected loss in revenue will also affect local city and county budgets, which means potentially less money for public services. It will undoubtedly force local governments to run more efficiently but there is no guarantee that these local governments will not raise their property tax rates to meet the shortfall. Should the property tax referendum pass, it will need the goodwill and co-operation of local governments to truly make the reforms happen.

Before casting that ballot, voters should pause and first consider that big picture. Every trade-off has ups and downs. This tax proposal has benefits for most types of property owners but it will leave less money in the public coffers.

Voters have to prioritize what is important and vote not just as property owners but also users of public services.