Here’s what to know about Florida’s other new property tax law

On Tuesday, Florida voters approved a new property tax amendment that will massively expand the homestead exemption for residents across the state.But earlier this year, Florida Gov. Ron DeSantis signed another new bill into law that may have a major impact on local governments trying to raise property taxes.That law — SB 4-F — was approved by lawmakers during the recent property tax special session, which also yielded Amendment 3.But unlike that amendment, SB 4-F doesn’t alter the state’s constitution.LOCAL PROPERTY TAX CHANGESInstead, SB 4-F revises how local governments calculate the maximum property tax rate that may be adopted with a simple majority vote.Under current law, local governments may raise the rolled-back rate — the rate necessary to bring in just as much revenue as the prior year — based on growth in Florida’s per-capita income, state officials explain. SB 4-F removes that adjustment.In short: this means that local governments can’t rely on the automatic “income-growth