Among the state constitutional amendments Florida voters will decide on Nov. 3 is Amendment 2. It would exempt equipment and machinery used in agriculture and agritourism from the local tangible personal property tax.
The exemption covers items such as tractors, harvesting machines and other equipment kept on land that a farmer owns or leases. Today, businesses, including farms, can exempt only the first $25,000 of the value of such property from the tax. If the amendment passes, the new rules would apply to tax years beginning Jan. 1, 2027.
According to a legislative analysis, county and city governments would lose about $31 million in revenue a year, starting in the 2027–28 fiscal year. Critics stress that the money helps pay for fire departments, emergency services, sheriff’s offices, parks and roads, and that the largest benefits would go to owners of the biggest farms. Some opponents also argue that such matters should be set by statute, not by the constitution.
Supporters, including the amendment’s co-sponsor, state Sen. Keith Truenow, who is also a farmer, argue that it will lower costs for farms of every size. Farmers point out that they pay the tax when they buy equipment and then again every year.
The state Legislature placed the amendment on the ballot. To take effect, it must be approved by at least 60% of those voting.
Source: Spectrum News 13, WUSF
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