This morning, the Board of Directors of the Greater Tampa Chamber of Commerce reviewed the proposed Constitutional Amendments on the 2012 ballot. This year’s ballot has eleven amendments, each was reviewed within the context of the Chamber’s mission “to serve our members and enhance our community by building business success.” Of the eleven, three were identified as meriting further discussion of the Chamber taking a position.
Amendment 3 would set a state revenue limit each year based on a formula that considers population growth and inflation instead of using the current method. The Chamber opposes Amendment 3.
Amendment 4 would reduce the maximum annual increase in taxable value of non-homesteaded properties from 10 percent to 5 percent; provide an extra homestead exemption for first-time home buyers and allow lawmakers to prohibit assessment increases for properties with decreasing market values. After lengthy discussion and in light of the Chamber’s diverse membership which would be impacted differently by this amendment, the Chamber opts to take no position on Amendment 4.
Amendment 10 would double the tangible personal property tax exemption and allow local governments to increase the exemption. The Chamber supports Amendment 10.