On Jan. 1, 2025, 12 new Florida laws are set to go into effect.

Amendment 5 will be on the ballots of Florida voters on Nov. 5.

Local 10′s “Amendments 101” series explains each Florida constitutional ballot question on the 2020 ballot, to ultimately help you make an informed decision. Amendment 5 is the first of two on the ballot that has to do with your property taxes — and this one is simply about extending a deadline. First, some background:The taxes on property you actually live in — your home — are capped at 3% a year, with what Florida calls the “homestead” exemption. The downside is for the local governments that rely on property taxes for revenue. A “Yes” vote = Extending moving homeowners' deadline to move their homestead tax exemptions.