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AMENDMENT 3: Assessed Value Of Residential Property

Poll Opened: October 23, 2008

Poll Closes: November 30, 2008

AMENDMENT 3: Assessed Value Of Residential Property

ON THE BALLOT: "Authorizes the Legislature, by general law, to prohibit consideration of changes or improvements to residential real property which increase resistance to wind damage and installation of renewable energy source devices as factors in assessing the property's value for ad valorem taxation purposes. Effective upon adoption, repeals the existing renewable energy source device exemption no longer in effect."

THE GIST: This would prevent homeowners who take steps to protect their homes against hurricanes or install renewable energy technologies from getting hammered by higher property taxes. If approved, the law would apply to homeowners who install storm shutters to prevent wind damage or solar energy panels to power their home.

PROS: Supporters say the savings may be small, but homeowners may benefit in other ways. It could lead to smaller insurance premiums and lower utility bills.

CONS: According to financial impact estimates, the savings for homeowners would be small - about $15 - and would not apply to non-residential property.

- Russell Ray

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