The Florida Amendment Series: Amendment 1
Bottom Line: This is the first in a three-part series covering Florida’s proposed constitutional amendments for the 2022 election cycle. Each proposed amendment requires a minimum of 60% support to pass. Here’s how it will appear on the ballot:
No. 1 Constitutional Amendment
BALLOT TITLE: LIMITATION ON THE ASSESSMENT OF REAL PROPERTY USED FOR RESIDENTIAL PURPOSES
BALLOT SUMMARY: Proposing an amendment to the State Constitution, effective January 1, 2023, to authorize the Legislature, by general law, to prohibit the consideration of any change or improvement made to real property used for residential purposes to improve the property's resistance to flood damage in determining the assessed value of such property for ad valorem taxation purposes.
All three of the proposed Constitutional Amendments on our ballots this year were placed by the Florida Legislature. Amendment 1 came via a unanimous vote by the state legislature as part of the Always Ready law in the 2021 session. The impetus behind the legislation, including Amendment 1, was/is addressing sea level rise and related flood risk. That said, Amendment 1, is specifically about property taxes assessed for improvements made to one’s property in combating flood risk.
Under Florida’s current constitutional law, property improvements made to mitigate flood risk are to be assessed for higher property taxes along with all other property improvements. In 2008, Floridians passed Amendment 3, which allowed for a property tax exemption for property improvements for wind mitigation. This Amendment seeks to extend a similar benefit to property owners who take similar steps for flood mitigation.
The Amendment’s author, state Rep Linda Chaney stated: Homeowners who are taking proactive measures to protect their property from flooding should not only be rewarded, but they should be incentivized.
Bottom Line: In life timing is key to outcomes in so many ways. Here we have a proposed constitutional amendment aimed at incentivizing property owners to take steps to reduce flood risk to their property. It comes on the heels of the worst flood event in Florida since 1928’s Lake Okeechobee Hurricane which was the catalyst behind the eventual Lake O’ Dike (after the impact of two other hurricanes breached levees constructed around the lake). I don’t feel Ian should specifically impact something as permanent as a Constitutional Amendment, but what it did do is highlight flood risk across our state. With some of the worst flooding in the state occurring with Ian in Central Florida, it highlighted the reality that flood risk isn’t just about storm surge in coastal areas but is a very real consideration of most Floridians in low lying areas (which is most of the state).
This proposed amendment effectively ties up the loose ends from 2008’s approved Constitutional Amendment, providing a net benefit to those who take measures to mitigate flood risks to their homes. It does so without having a punitive impact on other property owners who don’t take similar measures, which is a key consideration for me when evaluating property taxation policy. For those reasons I recommend a Yes vote on Amendment 1.