The controversy continues over Amendment 3, a proposed amendment to the Florida Constitution that would allow homebuyers that have not owned a home in 8 years a claim to a property tax break.  In addition to the tax break, the amendment would lower the annual tax appraisal cap for rental property and commercial property to 5%.

The controversy is not over what the amendment will do for homeowners, but  the wording of the amendment in the ballot box!  Recently, a judge removed the amendment from the ballot altogether.  The effective date of the property tax is not mentioned in the amendment, causing the judge concern on whether voters would be able to understand the explanation of the amendment.

The Florida Supreme court has yet to decide whether or not the amendment should be back on the ballot.  According to Trey Price, Florida Realtors public policy representative,  "If Amendment 3 does, in fact, not appear on the November ballot, Florida Realtors' State and Local Taxation Subcommittee is ready to discuss the next steps and plan for a better amendment for 2012. Economists are telling us that commercial property assessments are unlikely to exceed 5 percent in the coming two years, so that is somewhat good news."