JACKSONVILLE, Fla. — Florida Amendments 5 and 6 deal with money.
Amendment 5
The text of Florida Amendment 5 states that it would "require an annual adjustment for inflation to the value of current or future homestead exemptions."
This would create an addition to Section 6 of Article 7 of the Florida Constitution that deals with homestead exemptions. Currently, homeowners in the state of Florida are allowed to exclude $25,000 of their home's assessed value for tax purposes.
If passed, this amendment would adjust that $25,000 based on inflation according to the consumer price index.
However, that would not apply to school taxes. The state's Revenue Estimating Conference predicts that if Amendment 5 passes, it would slightly reduce local government property taxes.
Amendment 6
Amendment 6 also deals with public money, but public money for people hoping to become elected officials.
The text of Amendment 6 proposes to repeal the provision in the state constitution which requires public financing for campaigns of candidates for elective statewide office who agree to campaign spending limits. Current public campaign financing is available for candidates for governor, lieutenant governor, attorney general, chief financial officer and agricultural commission who have already raised at least $100,000 themselves.
Amendment 6 would repeal a campaign finance law that was approved by voters in 1998. A similar amendment to repeal that law was proposed in 2010 but failed to receive the required number of votes.
Both amendments, 5 and 6 require 60% of the vote to be approved.