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Tax Modernization Constitutional Amendment

Posted 08/16/22

Photo for Tax Modernization Constitutional Amendment

The Monroe County Commission will meet in special session on August 18, 2022
at 6:00 pm at James Monroe High School. The purpose of this meeting is for the
Commission to meet with local legislative representatives to discuss the Tax
Modernization Constitutional Amendment that will appear on the November 2008
General Election ballot.
To amendment will ask voters if they wish for the State Constitution to be
amended by providing the Legislature with authority to exempt tangible machinery and
equipment personal property directly used in business activity and tangible inventory
personal property directly used in business activity and personal property tax on motor
vehicles from ad valorem property taxation by general law. If this amendment passes
and authorizes the Legislature to exempt these taxes, and the Legislature votes to
exempt such taxes, the county will lose approximately $420,000 annually in revenue
and the Board of Education will lose approximately $1.1 million. The Legislature has
assured counties they will “make them whole” (make up the difference in the amount of
revenue counties will loose from these exemptions) but no funding source has been
identified at this time.