How much will taxpayers save under Floridas Amendment 5? NBC 6 South Florida [Video]

A bit of a tax break is on the way for homeowners across Florida.

The newly approved Amendment 5 will adjust part of your homestead exemption according to inflation. 

It’s not a whole lot of money, but it’s something, says Broward County Property Appraiser Marty Kiar.

“I think it’ll save people $10-15 in property taxes, but every single year maybe it will go up as well based on inflation. I think it’s a pretty good thing that puts a little more money in people’s pocket,” Kiar said.

The win for homeowners is a loss for cities and counties across South Florida that rely on property taxes to fund services like police and fire departments.

The state estimates the financial impact for all of Florida in the first year is $22 million. 

Independent research institute Florida Police Project estimates counties statewide could lose more than $400 million in tax revenue over …