[Avista]

With the superhomestead exemption, we who are buying or have recently bought a home will have an enormous savings. Those who have lived in their homes for years will not. We bought our last house in Tampa in 1993. Since property taxes could only be raised 3%/year, it was quite a decision to sell this house. Also, the economy/ housing market slows if people do not want to sell or can't sell their home. If I understand this amendment, it says people get a one time choice that can't be changed whether they want the old system or the new superhomestead exemption. I see the superhomestead exception being very good for the housing market. This would, of course, bring in revenue.

That is IF the amendment passes.

Perhaps someone out there understands this better than I do.