A statutory “Roll-Back & Cap” law has been signed into law by
This law provides an overall cap limiting what governments can collect from property taxes and requires a local government to collect the same amount of revenue it did the previous year with a small adjustment for new construction and statewide personal income growth.
All local governments will be required to freeze their tax base at the 2006-2007 level, with a small allowance for growth, and then cut an additional 3%-9% based on their individual five year history of tax increases. Independent special taxing districts will be subject to a 3% cut. (School boards are exempt from this provision.)
This will be reflected in the upcoming tax bill in November since Floridians pay taxes in arrears.
The “Roll-Back & Cap” will apply to, and protect, all classes of properties from big unpredictable year-to-year tax increases. This includes vacation homes, rental property, and commercial properties.
As a fact, this is the first guaranteed property tax protection for non-homesteaded properties in