florida votes yes on 1: portability

[lazygood4nothinbum]

i'm no longer trapped in my house.

with over 90% of polls counted, amendment 1 has 63% approval with only 60% required while polls had shown a loss for amendment 1 which doubles the homestead exemption, allows for portability of "save our homes" value (which limits to 3% increases in appraised property value for tax purposes) and limits nonhomesteaded properties to 10%.

this opens up a whole new option for me in my downsizing ability. south florida has become very expensive and my house has gained much value over my 14 years here. happens i bought right when soh came of age. for those upgrading, as much as $500k of homesteaded value becomes portable in the state. for those of us downsizing, we take the percentage of market value to soh value giving me a minimum of $160k. that means i can get a foreclosed house near the beach in daytona or an apartment near the bay in tampa or something in g-ville or jax and pay zero in property tax.

without portability, for me to downsize by half my taxes would have increased by three. thank you florida for your support of my early retirement options.