Florida voters will decide Tuesday, Nov. 3, on Amendment 2, which would eliminate the tax on tangible personal property used in agriculture. Supporters say it would give farmers relief, while critics warn of the impact on the budgets of small counties.
A Senate staff analysis estimates that in fiscal year 2027-28, the first after the change takes effect, local property tax revenue would fall by $31 million. In the following years, the amount would grow to about $32.3 million in 2028-29 and $33.6 million in 2029-30.
The amendment applies to qualifying machinery and other tangible personal property used in agriculture or agritourism. If approved, it would first apply to tax years beginning Jan. 1, 2027. It needs at least 60% of the vote to pass. Businesses, including farms, can already claim an exemption on the first $25,000 of the value of tangible personal property.
The amendment is backed by, among others, Agriculture Commissioner Wilton Simpson, who says eliminating the tax would reduce farmers’ burdens. Critics, however, point out that it could hit counties with limited financial resources, which are already worried about the effects of Amendment 3. Many of the counties with the smallest budgets also have the largest agriculture-related tax base.
Florida TaxWatch acknowledges that agricultural counties could feel the effects, but it believes the Legislature could compensate them, as it did with earlier exemptions. The impact on urban counties would be much smaller.
Meanwhile, the campaign over Amendment 3 continues. The final debate was held in Orlando at a meeting of the Tiger Bay Club of Central Florida. Rep. Berny Jacques urged a “yes” vote, while David Smith of Winter Springs raised objections. According to a St. Pete Polls survey for Florida Politics, the amendment has 44% support and needs 60%.
Source: Florida Politics
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